KeyCorp CEO Mooney to retire in 2020; successor chosen

Gorman will succeed Mooney as chairman and CEO on May 1, 2020. Mooney has served in the role of chairman and CEO since May 1, 2011 after joining the bank in 2006. 

Mooney led the banking company’s expansion effort in New York and neighboring states as it closed on its $4.1 billion acquisition of Buffalo–based First Niagara Financial Group, Inc. (NASDAQ: FNFG) in late July 2016.

KeyCorp had first announced the acquisition on Oct. 30, 2015.

Gorman was responsible for leading the integration of First Niagara Financial Group, KeyCorp said.

“On behalf of the entire board, I’d like to congratulate Chris on his appointment. We have had the opportunity to work closely with him and know that he will continue to lead Key with a focus on growth while maintaining Key’s values,” Sandy Cutler, lead independent director of KeyCorp’s board of directors, said in the firm’s news release. 

“We’d also like to thank Beth for her transformational leadership – from building a strong culture that attracts and retains talent, to delivering value for our shareholders while maintaining a client focus, to creating the blueprint in how to effectively invest in our communities.”

“My time at Key has represented some of the most rewarding years in my 40 years in banking,” Mooney added in the news release. “I am proud of what we’ve accomplished together, and I look forward to continued success under the leadership of Chris and the diverse and talented team at KeyBank.”

Gorman joined the bank in 1998 as part of Key’s acquisition of McDonald Investments, a registered broker-dealer where he held several leadership roles. During his time at Key, Gorman has led KeyBanc Capital Markets and served as president of Key Corporate Bank. 

In his current role as president of banking, Gorman is accountable for the revenue generating businesses across Key, including consumer, commercial, and institutional banking.

Contact Reinhardt at ereinhardt@cnybj.com