PNC Financial Services Group (NYSE:PNC) has appointed a new chief executive officer of its PNC Mortgage division. E. Todd Chamberlain is to take up the position, replacing Saiyid Naqvi following the latter's retirement at the end of April. Like Naqvi, he will also join the banking conglomerate's executive committee.

Chamberlain joined PNC in 2011 and has served as the mortgage division's president and chief operating officer. Before that, he occupied executive positions in Regions Financial and insurance giant American International Group.

Naqvi had been the head of PNC's mortgage operations until 2001, when the company divested that business. He returned in 2009 following the bank's acquisition of National City Mortgage, which subsequently became PNC Mortgage.

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