09.10.25

The CEO Who Wants To Double the Size of His Bank to $1 Trillion

by: Gina Heeb

Bill Demchak, CEO of PNC Financial Services, is pushing to transform the Pittsburgh-based bank into a trillion-dollar giant through strategic acquisitions and expansion. Last week, PNC announced a $4 billion purchase of Colorado-based FirstBank, boosting its assets to nearly $600 billion and strengthening its Western presence. Demchak has argued that regional banks must scale up to survive against megabanks like JPMorgan and Bank of America. Since taking over in 2013, he has grown PNC into the eighth-largest U.S. bank, positioning it for further industry-shaping consolidation.

Read the full article on The Wall Street Journal