PNC's President Michael Lyons Departs To Joins Fiserv As CEO-elect

(RTTNews) - PNC Financial Services Group, Inc. (PNC), a financial services company announced on Thursday that its President Michael Lyons will be leaving the company to join Fiserv as President and Chief Executive Officer elect.

Payments and financial services technology solutions company Fiserv Inc., in a separate statement, confirmed that Lyons' appointment will be effective January 27.

Lyons had been with PNC since 2011. He was named President last year.

Lyons will report to Frank Bisignano at Fiserv, who will remain Chairman and CEO until June 30 or until confirmed earlier by the U.S. Senate as Commissioner of the Social Security Administration.

Fiserv's Lead Independent Director Doyle Simons will become non-executive chairman of the Board on the same date as Lyons takes over CEO role.

In the pre-market trading, PNC Financial Services is declining 0.24% at $195.82 on the New York Stock Exchange. Currently, Fiserv is down 0.50% at $208.41 on the New York Stock Exchange.