The PNC Financial Services Group announced that E. William Parsley III has been named Chief Operating Officer effective immediately. Gagan Singh will succeed Parsley as Chief Investment Officer and continue with his current duties and Randall C. King will succeed Parsley as treasurer and continue with his current duties. Both will continue to report to Parsley.

"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. His key responsibilities have included capital and liquidity management, interest rate risk, investments, and internal and regulatory stress testing. More recently, he has also been leading our home lending transformation and streamlining and strengthening our operations in connection with mortgage and home lending as well as retail and consumer lending," said William S. Demchak, PNC chairman, president and chief executive officer.