A new chief will take over the home lending business of The PNC Financial Services Group Inc. when the current leader of the unit retires next year.
The Pittsburgh-based financial institution reported that it originated more than $8 billion in residential loans during the first nine months of this year.
PNC serviced $122 billion in residential loans for third parties as of Sept. 30 in addition to the more than $47 billion in residential assets it held as investments.
Up until
next spring, Joseph C. Guyaux is in charge of the mortgage business — at which point he will retire as senior vice chairman of the bank-holding company and president and chief executive officer of PNC Mortgage, according to a news release Thursday.
Guyaux has been with the bank for 43 years.
Among the roles he has served in are president of PNC Financial Services Group, head of retail banking and chief risk officer.
He took on the leadership job at the mortgage unit earlier this year when E. Todd Chamberlain left the company due to “family considerations.”
“During his remarkable 43-year career at PNC, Joe Guyaux has at one time or another led nearly every core business activity within the company,” PNC Financial Services Group Chairman, President and CEO William S. Demchak said in the statement.
Taking over from Guyaux when he retires will be
E. William Parsley III.
Parsley
currently serves as treasurer and chief investment officer of PNC Financial Services Group — positions he will continue to hold after he moves into the mortgage job.
Other roles currently held by Parsley include chairman of PNC Capital Markets Inc., chairman of PNC Investment Corporation Inc., head of PNC’s asset resolution efforts and the economics group and director on the board of directors at PNC Bank, N.A.
Parsley has been with PNC since 2003. Before that he worked at JPMorgan Chase & Co.
The announcement indicated that he
graduated Summa Cum Laude from Boston College School of Management with a degree in finance and computer science.
