PNC Financial Services Group has announced a chief financial officer succession plan that will move Alexander E.C. Overstrom into the role on March 1, 2027, while current CFO Robert Q. Reilly becomes executive vice chairman.
The transition will follow the filing of PNC’s 2026 year-end financial reports. Reilly will remain CFO until that point, then serve as a senior executive advisor to Chairman and CEO William S. Demchak. His new responsibilities will include advising on strategic initiatives and operating priorities and supporting engagement with clients across the firm.
Reilly joined PNC in 1987 and became CFO in 2013. His tenure has included the acquisitions of BBVA USA in June 2021 and FirstBank Holding Company, including its banking subsidiary, in January 2026. He previously led PNC’s Asset Management Group and held leadership positions in corporate banking and credit.
Overstrom has served as executive vice president and head of Retail Banking since 2022. His responsibilities encompass consumer and small business banking, home and consumer lending, payments and digital services, and PNC Wealth Management. He also oversees enterprise customer advocacy and corporate strategy.
Before joining PNC in 2014, Overstrom spent eight years at Goldman Sachs in firmwide strategy and investment banking. At PNC, he has led Merchant Services and Aviation Finance and served as chief operating officer of Corporate & Institutional Banking and Asset Management.
PNC said it will announce permanent succession for its Retail Banking business in the near future. The planned transition retains Reilly in a senior advisory position while moving an executive with operating and strategy experience into the finance leadership role.
KEY QUOTES:
“It’s been an absolute privilege being PNC’s CFO for the past 13 years. I look forward to this new role as Executive Vice Chairman with equal enthusiasm.”
Robert Q. Reilly, Chief Financial Officer Of PNC
“I’m excited to take on the CFO role from Rob, who has been a mentor to me throughout my career at PNC. We’re in a strong position today, and I look forward to continuing that progress and advancing our strategy from this next seat.”
Alexander E.C. Overstrom, Executive Vice President And Head Of Retail Banking At PNC
