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SOURCE PNC Financial Services Group, Inc.
- Saiyid T. Naqvi to Retire -
PITTSBURGH, March 20, 2013 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced that E. Todd Chamberlain will succeed Saiyid T. Naqvi as chief executive officer of PNC Mortgage.
Chamberlain has served as PNC Mortgage president and chief operating officer since joining the company in 2011. He will assume his new position and join PNC's executive committee upon the retirement of Naqvi, who has announced his plan to leave PNC at the end of April.
"Todd has established strong ties between PNC Mortgage and Retail Banking, helping drive customer growth in both segments while simultaneously improving the overall performance of PNC's mortgage origination platform," said PNC President William S. Demchak. "He has the skill and experience to build upon the work of Sy Naqvi, who successfully repositioned PNC's nationwide residential mortgage business after we acquired coast-to-coast origination capability with the National City purchase in late 2008."
Naqvi led PNC's mortgage operation until 2001 when, based partly on his advice, the bank sold the business and subsequently avoided the worst impact of the 2008 financial crisis. Naqvi returned at the request of PNC Chairman and Chief Executive Officer James E. Rohr in 2009 as the bank was integrating National City Mortgage, which later became PNC Mortgage.
Prior to joining PNC, Chamberlain was an executive vice president at Regions Financial and managing executive of Regions' residential mortgage division. He joined Regions in 2003 from AIG United Guaranty Mortgage Insurance Company where he was the GSE Relations Manager. Before that, he was executive vice president of business development for Columbia National, Inc. He holds a bachelor's degree in economics from St. Lawrence University.
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation's largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.