Former BlackRock executive Mark Wiedman will step in as the new president of PNC Financial Services Group, Inc. and its banking subsidiary, the corporation announced Monday. 

Mr. Wiedman, previously senior managing director at BlackRock, was unanimously appointed by the company’s board of directors. PNC’s top business divisions and its team of regional presidents will report to Mr. Wiedman, according to a statement. 

“Banking today is nothing like your father's bank — not even close,” said PNC Chairman and Chief Executive Officer William Demchak. “Mark brings deep experience from a fast-moving, tech-forward, consolidating industry that aligns perfectly with where we are headed, and which is why Mark is the right fit for this role.”

In the new role, Mr. Wiedman will report to Mr. Demchak. The two have worked together for 20 years, according to PNC.

At BlackRock, Mr. Wiedman oversaw the firm’s $11 trillion worth of business relationships and partnerships with banks, investors, and other financial institutions globally, the statement said.

He also served on BlackRock’s board from 2008 through 2019 and led the company’s emergency assistance to governments and financial institutions during the 2008 financial crisis, according to PNC.

Before joining BlackRock, Mr. Wiedman was a senior advisor to the under secretary for domestic finance at the U.S. Treasury. 

"PNC has earned one of the most exciting spots in U.S. finance, and I'm eager to join Bill and his team to help accelerate this company's incredible growth journey," Mr. Wiedman said Monday.