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Who's Moving Where In Wealth Management? – PNC, B Capital
Editorial Staff
24 January 2025
PNC B Capital Erlich was most recently the chief operating officer and chief revenue officer at Weights & Biases, an AI developer platform and, prior to this, he was general partner at Coatue Management. Erlich also founded and served as the CEO of three other venture-backed startups. He started his career in software engineering and product management roles at Google and Microsoft. The firm, which has more than $7 billion in assets under management across multiple funds, focuses on seed to late-stage venture growth investments, primarily in the technology, healthcare and climate sectors. Founded in 2015, B Capital has team members across the US and Asia.
The president of the PNC Financial Services Group – which provides services including wealth management – is departing the US lender.
The group said that Michael P Lyons will be leaving to take up the role of president and CEO-elect at technology and payments firm Fiserv. Lyons, who joined PNC in 2011 to serve as head of corporate and institutional banking, was named president in 2024.
"He is leaving to go to a great client and partner, and we wish him well,” PNC chairman and CEO William S Demchakk said.
B Capital, an investment firm, has appointed Yan-David Erlich as general partner, based in San Francisco. Erlich is an experienced technology and AI investor and a four-time venture-backed founder and CEO.