PNC Financial Services Group in Pittsburgh has promoted from within to fill the vacant position of chief operating officer.
The $381 billion-asset company appointed William Parsley to the role on Thursday. Parsley was most recently PNC’s chief investment officer and treasurer had previously served as head of consumer lending. He joined PNC in 2003 from JPMorgan Chase, where he was head of global derivative books and co-head of North American interest rate trading.
Parsley held a wide range of responsibilities in his most recent role, including capital and liquidity management, and managing interest rate risk, investments and internal and regulatory stress testing.
“We’ve named Bill our chief operating officer in recognition of the outstanding work he has done managing our balance sheet for many years through numerous acquisitions and significant economic turmoil,” Chairman and CEO William Demchak said in a news release.
Parsley also led PNC’s “home lending transformation and streamlining and strengthening our operations in connection with mortgage and home lending as well as retail and consumer lending,” Demchak said.
PNC has been trying to beef up its consumer lending capabilities in an effort to boost loan yields. In December it announced it would launch a national consumer lending platform to be marketed through its mobile wallet and in branches.
PNC named Gagan Singh to succeed Parsley as chief investment officer and appointed Randall King to the job of treasurer. Singh will retain his position as chief investment officer of PNC Bank. King has been head of liability and capital management and he will also retain that role.