The PNC Financial Services Group (PNC) announced on November 5, 2026, that Alexander E. C. Overstrom, currently executive vice president and head of Retail Banking, will become the new chief financial officer (CFO) effective March 1, 2027. He replaces Robert Q. Reilly, who will be elevated to Executive Vice Chairman on the same date.
Reilly will remain CFO until March 1, 2027. Overstrom will officially take over after PNC releases its year-end 2026 financial reports. Reilly joined the bank in 1987 and has been CFO since 2013. In his new role, he will be a senior advisor to the chairman and CEO, William S. Demchak, on strategic initiatives and operational priorities, as well as lead client relationships.
Overstrom, 42, joined PNC in 2014 from Goldman Sachs, where he spent eight years in strategy and investment banking. He has led retail since 2022 and, in that role, oversees retail banking and small business, mortgage and consumer lending, payments and digital, and PNC Wealth Management. The permanent successor for Retail Banking will be announced soon.
Demchak said: "PNC's strategy is working, and Alex is the right leader to help us in the next phase of growth." Regarding Reilly, he said that he guided the bank through challenging periods and pivotal transactions, such as the acquisitions of BBVA USA, in June 2021, and FirstBank Holding Company, in January 2026.
