PNC Financial Services had expanded the role of William Demchak as senior vice president by giving him responsibility for all of the company's businesses, including asset management and retail banking.

In a statement, the financial organization said that Demchak will retain his present duties for corporate and institutional banking and asset and liability management. Joseph Guyaux, the president of PNC, and Robert Reilly, executive vice president, will also keep their current roles as head of retail banking and head of asset management, respectively.

Demchak was hired by PNC from JP Morgan Chase & Co in 2002 and assumed the role of vice chairman and chief financial officer. He had been the global head of structured finance and credit portfolio at JP Morgan.

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