Gary Crosby, the top executive at First Niagara Financial Group, and two other members of the Buffalo-based bank’s board of directors will be joining the KeyCorp board after the $3.5 billion merger between the two banks closes.
Crosby, who is First Niagara’s president and CEO, will be joined on the KeyCorp board by fellow First Niagara board members Carlton Highsmith, a former packaging industry executive; and Austin Adams, a retired JPMorgan Chase chief information officer.
Under the terms of the deal, three First Niagara directors were required to be named to Key’s board. The appointments will increase the size of Key’s board of directors to 17 members from the current 14.
The merger, awaiting regulatory approval, is expected to be completed during the third quarter.