About the Company
KeyCorp is a Cleveland-based company that functions through KeyBank, its primary subsidiary. KeyBank is one of the largest banks in the USA and the only major bank based in Cleveland. The company operates in more than 15 states and has over 40,000 ATMs and more than 1,000 full-service branches. It has its operations in New Jersey, Rhode Island, Vermont, Maine, Florida, Delaware, Utah, Washington, Ohio, New York, etc. As of 2021, it has a workforce of over 17,000 full-time employees, helping it manage assets worth more than $170.5 billion.
Along with the standard banking facilities, it also offers risk management solutions and services under five categories, namely small business banking, corporate bank, wealth management, personal banking and commercial banking. It serves 14 different industries that include energy, technology, education, auto dealer, healthcare, public sector, etc. Under personal banking, it offers credit cards, savings & CDs, personal loans, debt consolidation etc. It provides similar products to small businesses, along with services like cash management and Key4Women that helps women with their financial goals.
KeyBank’s origin dates back to 1825 with the incorporation of one of its predecessor companies named Commercial Bank of Albany. The bank itself will not be formed until 1994 when the Commercial Bank of Albany merged with Cleveland-based Society Corporation. The merger also helped KeyBank enter the list of the top 10 banks in the US for a short period in 1994. From 1995 to 2001, the company acquired nine significant enterprises, one of which was McDonald & Co. After that, its next substantial acquisition took place in 2016 when it bought First Niagara Bank for $4.1 billion.
KeyCorp is a component in the S&P 500 index, and KeyCorp shares trade under the ticker symbol of KEY in the New York Stock Exchange (NYSE). In 2013, KeyCorp dropped out of the Fortune 500 list, but it reclaimed a position in 2017 and held the 411th spot in 2020. Forbes has also recognized KeyCorp in its 2020 Global 2000 and America’s Best Banks lists.
In 2020, KEY also became a part of prestigious lists, like the Top 50 Companies for Diversity by DiversityInc, Civic 50 for Community-Minded Companies by Points of Light, Bloomberg Gender-Equality Index (GEI), Best Places to Work for LGBTQ Equality by Human Rights Campaign, etc.;