Today's announcement completes a management transition plan that was first announced by Royal in April 2012. Robert R. Tabas, who has served as chief executive officer since 2009, will retire from day-to-day management of the bank and holding company, but will remain as chairman of the board of directors.
Mr. Tylus was president of Yardville National Bank from 2004 to 2007, and served on the company's board of directors from 1991 to 2004, continuing as a non-independent director through 2007. During his tenure as president, Yardville expanded its footprint to 35 branches in New Jersey and Bucks County, PA, grew to $3 billion in assets, while market capitalization nearly doubled from its 2002 public stock offering. He also brings extensive capital markets experience, having worked with investment bankers and investors on a range of successful capital raising initiatives. He also was responsible for establishing an enterprise risk management culture, satisfying regulatory requirements and expanding customer-facing and internal technology capabilities. Mr. Tylus chaired several Board committees during his tenure as an independent director including the Strategic Planning Committee.
After the sale of Yardville, Mr. Tylus remained with PNC as regional president of its newly-created Central New Jersey region, which represented 120 branches. Under his leadership, the region grew as a result of cross-selling initiatives and brand expansion. Prior to joining Yardville, Tylus held progressively-responsible leadership positions in the financial services, insurance, and healthcare industries. Early in his career, Mr. Tylus was a management consultant with Touche Ross (now Deloitte Consulting) where he became a Partner. He received his bachelor's degree from Gettysburg College in Gettysburg, Pa., where he serves as a Trustee and earned an MBA in finance from La Salle College in Philadelphia, Pa. He is a past member of the Franklin & Marshall College Leadership Council, the Chair of The Hun School of Princeton Board of Trustees and a leader for various community organizations.
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