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Victory Capital Management did not fit with KeyCorp's retail strategy so the Cleveland company decided to sell it and has since asked regulators to let it use capital from the deal to buy back shares, CEO Beth Mooney said.
April 19 -
KeyCorp (KEY) posted double-digit growth in its commercial and industrial loan portfolio and its earnings rose in the first quarter.
April 18 -
KeyCorp (KEY) in Cleveland has agreed to sell its investment management and broker-dealer units.
February 21
KeyCorp (KEY) Chief Financial Officer Jeffrey Weeden plans to step down after 11 years in the role.
Weedon, 56, will leave the $89 billion-asset lender effective June 30, it announced Friday. The company did not name a replacement and a company spokesman could not immediately provide further details. Weeden will work with KeyCorp's management to ensure a smooth transition of his duties, it said.
"For more than a decade, [Weeden] has played an important role in helping Key navigate the financial crisis and a changing regulatory environment," KeyCorp Chairman and Chief Executive Beth Mooney said in a news release. "Key has emerged stronger and in a much better financial position thanks to his efforts."
