** PNC Financial PNC.N President Michael Lyons is set to depart the U.S. bank to assume the role of CEO-elect at payments firm Fiserv FI.N, the companies say
** Lyons is set to succeed Fiserv CEO Frank Bisignano, who has been picked by President Donald Trump to head the Social Security Administration
** Bisignano will continue in his current role until June 30, or upon an earlier confirmation by the U.S. Senate
** Piper Sandler says it was surprised to read about Lyons' departure, given he has been with PNC for 13 years and led all the lines of business
** Brokerage says that, most importantly, Lyons was considered CEO Bill Demchak’s heir-apparent upon his eventual retirement
** "While this looks like a great opportunity for Lyons, we consider it a loss for PNC" - Piper Sandler
** Brokerage Stephens echoes Piper Sandler's comment, saying that the investment community felt Lyons was the heir apparent to Demchak
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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