William S. Demchak is the Chairman, President, and CEO of PNC Financial Services Group, a major player in the U.S. banking industry. He joined PNC in 2002 as CFO and quickly rose through the ranks, becoming CEO in 2013 and...

Number of Employees

56.41K

Year

2023

Total Compensation

$18.01M

Salary

$1.20M

Board Justification

PNC's compensation philosophy emphasizes pay for performance, aligning executive compensation with long-term shareholder value creation, managing talent, and discouraging excessive risk-taking. The compensation program is designed to reward demonstrated performance across the enterprise and to attract, retain, and motivate high-quality executives.

Bonus

$4.41M

Board Justification

The annual cash incentive portion of the CEO's compensation for 2023 was $4,410,000, awarded based on performance metrics and the Human Resources Committee's evaluation of the CEO's performance.

Other

$797.60K

Board Justification

Other compensation includes perquisites and other personal benefits, insurance premiums, and contributions to retirement plans.

Restricted Stock

$11.60M(73.01K RSU)

Board Justification

The vested stock includes performance share units (PSUs) and restricted share units (RSUs) that vested based on performance and time-based criteria for the period ending December 31, 2023.

Performance Metrics

The performance metrics for determining the CEO's compensation in 2023 included financial performance (net income, EPS growth, ROE), risk management, customer experience, talent management, and leadership.

SEC Filing

From March 13, 2024

William S. Demchak

CEO of PNC Financial Services

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Education

Bachelor's degree in Finance from the University of North Carolina at Chapel Hill

Field of Expertise

Finance & Banking - Finance

Born

January 1, 1970 - 55 years ago

Is Founder?

No

Current Tenure

12 years 8 months (Apr 2012 - Present)

Previous Experience

Head of Corporate & Institutional Banking at PNC