Bill Demchak called the “prince of darkness” after he led the development of the credit-default swap market
The CEO Who Wants to Double the Size of His Bank to $1 Trillion
Bill Demchak surprised his friends when he decamped from a high-profile job at JPMorgan Chase for a job at a smaller bank more than two decades ago.
Today, the PNC Financial Services Group CEO is determined to turn his bank into a trillion-dollar giant, reshaping the industry in the process.
The 63-year-old has been proselytizing that smaller banks need to grow or become casualties to the growing dominance of behemoths like JPMorgan and Bank of America.
Pressure from investors, regulatory and technology costs and competition from private markets and cryptocurrency present a growing list of threats.
Early in his career, Demchak spent about a decade and a half on Wall Street at JPMorgan, where he had been called the “prince of darkness” after he led the development of the credit-default swap market that later played a central role in the 2008-09 financial crisis.
Wall Street Journal 10 September 2025
Prince of Darkness is a 1987 American supernatural horror film
Centuries ago, in the Middle East, The Brotherhood of Sleep—a secret order of the Catholic church—discovered a large cylinder of swirling green liquid.
Kept secret from even the Vatican, the cylinder was eventually moved to Los Angeles, where it has since been guarded by the Brotherhood.
https://en.wikipedia.org/wiki/Prince_of_Darkness_(film)
Eurokrisen: När är en händelse som i Wien inte ett event? Ett event som kan utlösa Credit Default Swaps?
https://englundmacro.blogspot.com/2011/06/eurokrisen-nar-ar-en-handelse-som-i.html
Credit Suisse Default Swaps Near 2009 Level
https://englundmacro.blogspot.com/2022/10/credit-suisse-default-swaps-near-2009.html
Roubini Says Credit Suisse Might Be 'Too Big to Be Saved'
https://englundmacro.blogspot.com/2023/03/roubini-says-credit-suisse-might-be-too.html
Denna, kan man kalla det guldtacka, bara 10 g, hittade jag idag mars 22, 2023, i mina gömmor.
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