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named
Demchak as head of the team at JP Morgan whose financial innovations later played a role in the 2008 crash. Tett described how the team developed new securitization techniques for "turbocharging the market." In particular, the team realised that SPV (special purpose vehicles) would not have to
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According to
Demchak, one key ingredient to becoming a successful leader is to believe you can always be better. He advises potential leaders to: “learn from your failures, surround yourself with people who will challenge you. Ensure your vision is shared ‘clearly and often’ with your team. Remain
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William S. Demchak was elected president in April 2012, then chief executive officer in April 2013 and finally chairman in April 2014. In this capacity he is responsible for all of PNC’s businesses, including
85:. At Allegheny, he was an Alden Scholar, actively participating in student government, the economics club, the Interfraternity Council, intramural sports and Lacrosse. In addition, he was a member of the
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Of this specific work he has done and continues to do at PNC he says: “Unlike every bank in our position in history we’re not going to jump into capital markets.”
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and still lives there today. He says there is "nowhere else I’d want to raise my family." He is married to Debbie, and they have three children together.
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and conceiving the idea of bundling them together and selling them to investors, which is accredited with being one of the main factors in the
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be fully funded. When the concept was taken up by less cautious banks, it would create "consequences that are currently rocking the planet."
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298:"BACKGROUND INFORMATION FOR THE WILLIAM S. DEMCHAK '84 AND DEBBIE DEMCHAK STUDENT INTERNSHIP FUND"
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He formerly sat on the
Regulatory Management Committee of The Financial Services Roundtable, the
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109:. He says JPMorgan Chase “wasn’t a terribly enjoyable place to work.” He was also a director of
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151:. In 2009, Demchak became Senior Vice Chairman and shortly thereafter head of PNC Businesses.
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grounded in your values so that you never forget who you serve or why you come to work.”
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His total calculated compensation for the 2014 fiscal year was $ 11,337,904.
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461:"IN THE LEAD Profiles in Leadership: William Demchak, PNC President and CEO"
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Demchak is often credited with being the first major adopter of the
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Before PNC, Demchak held a variety of key executive positions at
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49:. He is credited with being one of the earliest adopters of the
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345:"How Bill Demchak turned PNC into a US banking powerhouse"
395:"Bill Demchak President The PNC Financial Services Group"
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131:. At that time he worked alongside the then CEO,
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249:"Credit derivatives pioneer to head PNC"
417:"Executive Profile* William S. Demchak"
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511:"One Time Whizz Kid Pauses for Breath"
127:In 2002, Demchak first joined PNC as
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552:21st-century American businesspeople
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438:Lanchester, John (June 1, 2009).
139:and large corporate businesses,
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199:Extra Mile Education Foundation
182:Demchak was born and raised in
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27:American banker and CEO of PNC
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122:Financial crisis of 2007–2008
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33:(born August 24, 1962) is a
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31:William Stanton Demchak
209:of Pittsburgh and the
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77:(with an emphasis in
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67:Bachelor of Science
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321:Rieker, Matthias.
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440:"Outsmarted"
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233:References
221:Philosophy
184:Pittsburgh
79:accounting
61:Early life
157:corporate
520:14 April
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133:Jim Rohr
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301:(PDF)
278:. PNC
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