New York-listed FNB Corporation, the parent firm of First National Bank, has appointed Vincent Delie as its new chief executive, effective 18 January 2012.

Delie, who has been with the firm for seven years, succeeds Stephen Gurgovits, who will serve as chairman of FNB going forwards, and also continue as chairman of First National Bank. Delie has also been elected to the board of directors and will carry on as president of FNB and CEO of First National Bank.

Gurgovits has been with the firm for 50 years and took over the leadership role in 2004. During his time as CEO the firm completed eight bank mergers and grew its assets from $3.8 billion to $12 billion, it said in a statement.

"FNB Corporation has been consistent in building customer and shareholder value, and it was important that the search for the next chief executive officer identify a leader who can continue that successful focus," said Gurgovits.