Kentucky Banker to Take Over at Riggs

After Merger, PNC Expansion Strategy to Include Branches in D.C. Suburbs

By Terence O'Hara
Washington Post Staff Writer
Friday, March 18, 2005; Page E03

PNC Financial Services Group Inc. named longtime Kentucky banker Michael N. Harreld to take over Riggs Bank's operations after Riggs's merger with PNC this spring.

Harreld, a native of Kentucky who has worked at PNC and its predecessor in Kentucky for his entire 36-year career, will be the Washington region president for PNC, responsible for building on Riggs's 51 branches in the area.

PNC officials said the merger is expected to take place on May 13, pending shareholder and final regulatory approval. Officials said PNC will soon release details of an expansion strategy that includes several new suburban branches.

"With his broad expertise and long record of success, Mike Harreld is the right person to lead PNC's growth in Greater Washington," James E. Rohr, chairman and chief executive of PNC, said in a statement. "He will be surrounded by a leadership team that includes experienced executives from both PNC and Riggs."

http://www.washingtonpost.com/wp-dyn/articles/A45622-2005Mar17.html