PNC’s board appointed Retail Banking chief Alexander E.C. Overstrom as its next chief financial officer, setting a March 1, 2027, handover under which longtime finance chief Robert Q. Reilly will become executive vice chairman and senior executive adviser to Chairman and CEO William S. Demchak.
The transition will follow PNC’s filing of its 2026 year-end financial reports, the bank said. On March 1, Reilly is to become executive vice chairman, advising Chairman and CEO William S. Demchak on strategic and operating issues and continuing to work with clients. PNC has not named a permanent successor to Overstrom in Retail Banking; it said the appointment would come “in the near future,” without giving a date.
Overstrom, 42 at the time of PNC’s Nov. 5 filing, joined the bank in 2014 and has led Retail Banking since July 2022. His remit includes consumer and small-business banking, home and consumer lending, payments and digital businesses, and PNC Wealth Management. Before joining PNC, Overstrom worked in strategy and investment banking at Goldman Sachs.
Reilly joined PNC in 1987 and became CFO in 2013. During his tenure, the bank completed its acquisition of BBVA USA on June 1, 2021, and bought FirstBank Holding Company on Jan. 5, 2026. PNC’s announcement did not give a reason for the transition or disclose new compensation terms.
Demchak said Overstrom’s experience leading Retail Banking prepared him for the finance role. He called the appointment evidence of PNC’s “deep leadership bench.” PNC announced the succession Nov. 5.
Overstrom is scheduled to take the CFO role on March 1, 2027, after the year-end reports are filed. Reilly will move into the executive vice chairman post the same day, while PNC’s permanent replacement for Overstrom remains to be named.
