KeyBank, a major player in the Central New York banking market, recently initiated a management reorganization that cut 24 jobs companywide, including two in Syracuse, and shifted the bank’s regional lineup. Locally, the effort shifted additional responsibility to Stephen Fournier, who now serves as market president for Central New York. Cleveland, Ohio–based KeyBank has undertaken […]
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KeyBank, a major player in the Central New York banking market, recently initiated a management reorganization that cut 24 jobs companywide, including two in Syracuse, and shifted the bank’s regional lineup.
Locally, the effort shifted additional responsibility to Stephen Fournier, who now serves as market president for Central New York.
Cleveland, Ohio–based KeyBank has undertaken “an internal” reorganization, which doesn’t affect its clients, says Therese Myers, a company spokesperson.
“They’re [clients] still going to be interacting with the same relationship managers they’ve had in the past, the same branch managers, the same tellers,” she adds.
Of the two jobs that were eliminated in the Syracuse market, one was “a retirement,” another was “a consolidation” and that individual is no longer working for the company, says Stephen Fournier, president of the Central New York market.
The local Key employee who retired had worked in a retail-leadership role, and the other employee served in a marketing-support function, according to Fournier.
Myers declined to name the local employees.
Myers and Fournier spoke with The Central New York Business Journal in a phone conversation on June 10.
Regional restructuring
KeyBank’s restructuring changed the banking company’s regional breakdown from 18 districts operating in three large regions to nine regions, Fournier says.
For example, the Central New York, Capital Region, and Hudson Valley markets are now part of the larger Eastern New York region, one of the nine new regions in its managerial structure.
“It better realigns us to our strengths with a three-market region,” Fournier says.
Fournier remains the president of the Central New York market. The Capital Region market and the Hudson Valley market each have their own presidents, he adds.
“We’re continually reviewing our structure, [and] the organization to meet the needs of clients, maintain our strength, position our marketplace, and meet our business needs,” Fournier says.
Even with the management restructuring, Fournier notes KeyBank continues operating in 23 East Coast markets, with presidents in each of those markets, including Syracuse.
“The only difference is we’ve gone from three regions to nine regions, with a regional sales exec[utive] in each of those regions,” Fournier says.
Fournier previously held the title of district president in Syracuse. Now, besides serving as the Central New York market president within the Eastern New York region, he’s also responsible for all retail operations in the bank’s branches in that region’s three markets.
“Basically, my responsibilities have broadened to be retail-sales leader to include the Capital [region] market and the Hudson Valley market,” he adds.
His responsibilities in advocating for the bank’s clients and integration for all of Key’s lines business “really hasn’t changed,” Fournier says.
Fournier, who has worked for KeyBank for 28 years, remains based at the KeyBank office at 201 S. Warren St. in Syracuse.
About KeyBank
KeyCorp (NYSE: KEY), the parent company of KeyBank, on April 18 announced it earned net income from continuing operations of $196 million, or 21 cents per share, in the first quarter.
That’s up slightly from $195 million, or 20 cents a share, in the year-ago period. Key’s earnings per share also beat analysts’ expectations of 20 cents.
Key incurred $15 million, or one cent per share, of costs associated with a previously announced cost-cutting initiative, the company said.
KeyCorp will report its second-quarter earnings on July 15.
KeyBank operates more than 1,000 branches in 14 states.
In Central New York, Key has 400 employees, 56 branches, 100 ATMs in a 12-county area from Plattsburgh south to Cooperstown, according to Myers.
KeyBank is the number two bank in the Syracuse–metro area deposit market with 27 branches, more than $1.8 billion in deposits, and a market share of 16.8 percent, according to the latest (June 2012) statistics from the Federal Deposit Insurance Corp.
The bank also has two offices, more than $58 million in deposits, and a market share of 1.6 percent in the Utica–Rome area.
Contact Reinhardt at ereinhardt@cnybj.com