Share this article

print logo

KeyCorp CEO: Bank focused on First Niagara buy, not new deals

KeyCorp chairman and CEO Beth Mooney downplayed prospects of Key making more deals to acquire banks, now that it has integrated First Niagara's operations.

"We are not strategically prioritizing bank acquisition," Mooney said Tuesday at the Barclays Global Financial Services Conference in New York City. "That is not our view of how to grow and return and improve the performance of our company."

Mooney also said she did not feel Cleveland-based Key was "fully complete in realizing the economics of the First Niagara acquisition for our shareholders, and first and foremost, it is our commitment to do that."

Key has taken steps to "enhance our platform" through deals like acquiring HelloWallet, a financial software product, and investing in its operations, she said.

But Mooney said Key was "not a strategic acquirer of banks."

"First Niagara, as we said at the time, was an exceptional and unique opportunity that we believe uniquely fit Key, and we believed we were the right owner of the asset," she said.

There are no comments - be the first to comment