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KeyCorp, the nation's 10th-largest banking company, Thursday said it has formed a new brokerage unit called Key Investments Inc. that will allow customers to make investment decisions through KeyCorp's 1,300 branches.

The company said the move foreshadows the creation of a new breed of financial services center, which will compete with the largest brokerage firms in the country.

"We will pioneer ways to develop systems that enable our customers to choose when, where and how they want to invest with Key Investments Inc.," said Jack Kopnisky, who was named president of the new unit.

KeyCorp said that the new brokerage unit will combine its brokerage subsidiaries, Key Brokerage Co. Inc. and Society Investments Inc.

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