Saiyid Naqvi Retiring, E. Todd Chamberlain to Head PNC Mortgage
The new CEO of PNC Mortgage will be E. Todd Chamberlain, its current president and chief operating officer. Current CEO Saiyid “Sy” Naqvi is retiring at the end of April.
Chamberlain has been with PNC since 2011 in his current position. Before then, he was executive vice president and managing director of Regions Financial’s residential mortgage division. He is also the former GSE relations manager for AIG United Guaranty Mortgage Insurance Co.
Naqvi is leaving the company at around the same time the CEO of PNC Financial Services Group, James Rohr, is retiring. It is Rohr who brought Naqvi back to PNC when the company got back into the mortgage business in 2009.
Naqvi had been in charge of PNC’s mortgage business until 2001 when it was sold. At that point, PNC created a joint venture mortgage origination business with Wells Fargo.
PNC got back into mortgages on a full-time basis with the acquisition of National City Corp. at the end of 2008. Naqvi became the CEO of National City Mortgage in February 2009.
In November 2009, PNC ended the joint venture and brought the two operations together under the name PNC Mortgage with Naqvi in charge.