NYSE:KEYBanks
KeyCorp Refocuses On Buybacks And Governance After HoldCo Agreement
KeyCorp (NYSE:KEY) and HoldCo Asset Management agreed to halt acquisitions, initiate a US$300 million stock buyback, and add a new independent director.
The agreement heads off a potential proxy fight and reflects active engagement between the bank and one of its shareholders.
KeyCorp is a regional banking group focused on lending, deposit gathering, and related financial services, an area that has been under close investor scrutiny after industry stresses and tighter regulation...