KEYCORP /NEW/ (KEY)

KeyCorp, an Ohio-chartered bank holding company headquartered in Cleveland, is one of the nation's largest bank-based financial services companies with approximately $187.2 billion in consolidated total assets as of December 31, 2024. Operating primarily through its principal subsidiary KeyBank National Association, KeyCorp delivers a broad array of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing/special servicing, and investment banking products through two major segments: Consumer Bank and Commercial Bank. As of year-end 2024, the company served customers through 944 full-service retail branches and 1,182 ATMs across 15 states, supplemented by online and mobile banking, including its national digital brand Laurel Road, and a telephone banking call center.

The Consumer Bank segment serves individuals and small businesses with deposit and investment products, lending, mortgages, credit cards, and wealth management services, while the Commercial Bank segment—comprising Commercial and Institutional operating segments—serves middle-market clients within Key's footprint and large corporate/institutional clients nationally, with expertise in sectors including Consumer, Energy, Healthcare, Industrial, Public Sector, Real Estate, and Technology; it is also a significant national commercial real estate lender and third-party loan servicer, and includes the KeyBanc Capital Markets (KBCM) platform offering capital markets products such as underwriting, trading, derivatives, and advisory services. Additional nonbank subsidiaries provide community development financing, securities underwriting, brokerage, and merchant services. As a Financial Holding Company under the Bank Holding Company Act, KeyCorp is regulated primarily by the Federal Reserve, with KeyBank subject to OCC oversight, and is classified as a Category IV banking organization under the Tailoring Rules, subject to standardized-approach regulatory capital requirements; at December 31, 2024, the company exceeded all "well capitalized" thresholds, reporting a Common Equity Tier 1 ratio of 11.92%, Tier 1 Capital ratio of 13.69%, Total Capital ratio of 16.15%, and Leverage ratio of 10.03%.

The company had an average of 16,753 full-time equivalent employees in 2024 and 17,406 total employees as of year-end, with a voluntary turnover rate of 13.2%, and maintains competitive compensation and benefits programs, including a 401(k) match, parental leave, and wellness programs, while competing against a broad range of banks, credit unions, fintech firms, and other financial institutions in an increasingly competitive and technology-driven industry landscape.