KeyCorp expands real-estate unit with more than 50 First Niagara hires

KeyBank Real Estate Capital, the commercial real-estate business unit of KeyCorp (NYSE: KEY), announced Thursday that it has hired more than 50 new bankers, portfolio managers, and servicing officers from First Niagara Financial Group across the country.

The move follows the recent closing of KeyCorp’s $3.7 billion acquisition of First Niagara. 

The employees will work in KeyBank Real Estate Capital’s income property, community development lending, health care, and servicing groups. Key said the First Niagara team brings it more than $6 billion in commercial real-estate loan commitments.

The former First Niagara employees joining Key’s leadership include the following:

• Greg Gilroy, income property regional executive, Upstate New York and Western Pennsylvania
• Russ Gentner, income property team leader, Western New York and Western Pennsylvania
• Doug MacLean, income property team leader, Boston/New Haven
• Chris Terlizzi, income property team leader, Eastern Pennsylvania
• Craig Burton, community development lending team leader, Northeast

KeyCorp — headquartered in Cleveland, Ohio — had assets of more than $101 billion at the end of June. Before their merger, KeyBank and First Niagara each ranked in the top 5 in deposit market share in the Syracuse metro area, according to the latest FDIC stats available, as of June 30, 2015.

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