The FINANCIAL -- KeyCorp (NYSE: KEY) on February 8 announced that Peter D. Hancock, vice chair responsible for Key's national banking business groups, has resigned from the company effective immediately.
Hancock, who joined Key in December 2008, will be joining American International Group, Inc. (NYSE: AIG ) as Executive Vice President, Finance, Risk, and Investments.
"Peter's leadership, experience and strategic insights have made a significant impact on our company," said KeyCorp CEO Henry L. Meyer III. "In the midst of one of the most tumultuous periods of financial disruption, he led significant efforts to rebalance our business mix, tighten our focus on market opportunities with the best intrinsic value and further our capabilities to provide integrated solutions to meet our clients' needs. We thank him for his many contributions over the past year."
"This opportunity for Peter is one of tremendous importance to AIG and to our country's financial system as a whole. We will miss him, and we sincerely wish him well in this new endeavor," concluded Meyer. Interim management arrangements will be announced shortly.
"My experience at Key has been terrific," said Hancock. "I strongly believe in their relationship strategy, and I am confident that they are well positioned as the economy recovers."
Key's national banking business groups provide corporate finance, cash management, investment banking, capital markets, commercial real estate, asset management, equipment finance, syndications and financial risk management advice and products to companies across the U.S. and internationally.
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