PITTSBURGH — PNC isn’t wasting time lamenting the recent and abrupt departure of its president of 11 months.
Right out of the gate at the UBS Financial Services Conference on Tuesday, PNC CFO Rob Reilly was asked about Michael Lyons leaving for Fiserv. What, financial pros wanted to know, does it mean for how the nation’s sixth-largest bank is run and what are the implications for succession?
PREVIOUS COVERAGE >>> PNC President Michael Lyons to depart bank
“A couple of things there,” Reilly said. “One is, Mike joined us about 12 or 13 years ago from Bank of America and he did a lot of great things at PNC. And he was presented with an opportunity that he decided was best for him and his family and he took it. And we wish him well.”
But, Reilly said, there is good news when “these things happen at companies” because it creates opportunities for others.
“We have a deep bench of talent,” Reilly said, “many of whom you’ll be meeting. That part feels good.”
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