KeyCorp (NYSE: KEY), parent of KeyBank, announced Tuesday that it has created a new leadership structure for its community bank division and named E.J. Burke and Dennis Devine as co-presidents.
Burke, 58, will be Key’s community bank co-president of commercial and private banking. Devine, 42 will serve as community bank co-president, consumer and small business. Devine and Burke will join Key’s executive leadership team and report directly to Beth Mooney, chairman and CEO of the Cleveland, Ohio–based banking company, Key said in a news release.
KeyBank is a major player in the Central New York banking market, ranking second in CNY deposit market share with $2.6 billion in deposits and a 10.2 percent share of total market deposits in the 16-county area, according to the 2014 Business Journal News Network’s Book of Lists. Stephen Fournier is KeyBank’s CNY district president.
KeyCorp says that under the new structure, the community bank co-presidents will work together to deliver Key’s products and services to consumer, commercial, and high-net worth clients across 12 states and 23 markets. Burke will be responsible for Key’s commercial banking and business-banking segments as well as Key Private Bank. Devine will focus on Key’s retail-banking operations, working with consumer and small-business clients.
As a result of this new leadership structure, Bill Koehler, current president of Key’s community bank, has decided to leave the banking company, effective June 30, Key said in the release.
“E.J. and Dennis will work closely with Bill Koehler over the next several months to ensure a smooth and successful transition of his responsibilities,” Mooney said. “I want to thank Bill who has served as President of Key’s Community Bank since 2010. He leaves a strong legacy at Key and has played an important role in helping shape our relationship-based business strategy.”
Devine joined Key in 2012 and currently leads its consumer and small-business segment. He has been responsible for business performance and strategic direction of Key’s retail businesses across 12 states and nearly 2 million clients, the company said. Prior to joining Key, Devine served as group executive vice president and director of U.S. distribution at Citizens Financial Group and in leadership positions at PNC Bank.
Burke joined Key in 2000 and currently leads KeyBank Real Estate Capital and Key Community Development Lending. During his career at Key, Burke has also been responsible for Key’s treasury management, foreign exchange, derivatives, public sector, and institutional asset-services groups. Prior to joining KeyBank, Burke was president and a founding member of Kansas City–based National Realty Funding, LC, a mortgage business that was acquired by KeyCorp in 2000.
KeyCorp has about $93 billion in total assets.
Contact Rombel at arombel@cnybj.com
CAPTIONS: Top photo is E.J. Burke. The other one is Dennis Devine (photos courtesy of KeyCorp