CLEVELAND, May 23, 2019 /PRNewswire/ -- KeyCorp (NYSE:
KEY) held its annual meeting today in Cleveland, OH, where it highlighted 2018 as a
strong year for the nearly 200-year-old institution. Shareholders
heard about how Key's distinctive relationship-based business model
helps clients and communities thrive and delivers on commitments to
create shareholder value.
"This past year, Key delivered strong financial results,
including meaningful improvement in both profitability and returns.
We achieved our sixth consecutive year of positive operating
leverage and reached record full-year revenue of $6.4 billion. I am proud of our accomplishments
in 2018, and believe we are well positioned for the future, as we
focus on improving efficiency, managing risk, and increasing
returns for our shareholders," said Beth
Mooney, Chairman and Chief Executive Officer,
KeyCorp.
During the annual meeting, shareholders elected 14 nominees to
KeyCorp's Board of Directors, each with executive leadership
experience across a number of industries. Board elections were one
of six proposals put before shareholders at the company's annual
meeting, held at One Cleveland Center in Cleveland, OH.
Other proposals presented and approved by shareholders included
the appointment of Ernst & Young LLP as the company's
independent auditor for the 2019 fiscal year; an advisory proposal
on the compensation of KeyCorp's named executive officers; approval
of KeyCorp's 2019 Equity Compensation Plan; approval of an increase
in the number of authorized common shares; and approval of an
amendment to KeyCorp's Regulations.
About KeyCorp
KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in
Cleveland, Ohio, Key is one of the
nation's largest bank-based financial services companies, with
assets of approximately $141.5
billion in assets as of March 31,
2019. Key provides deposit, lending, cash management, and
investment services to individuals and businesses in 15 states
under the name KeyBank National Association through a network of
over 1,100 branches and more than 1,500 ATMs. Key also provides a
broad range of sophisticated corporate and investment banking
products, such as merger and acquisition advice, public and private
debt and equity, syndications and derivatives to middle market
companies in selected industries throughout the United States under the KeyBanc Capital
Markets trade name. For more information, visit
https://www.key.com/. KeyBank is Member FDIC, Equal Housing
Lender.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements can be identified by words
such as "outlook," "goal," "objective," "plan," "expect,"
"anticipate," "intend," "project," "believe," "estimate" and other
words of similar meaning. Forward-looking statements represent
management's current expectations and forecasts regarding future
events. If underlying assumptions prove to be inaccurate or unknown
risks or uncertainties arise, actual results could vary materially
from these projections or expectations. Factors that could cause
Key's actual results to differ from those described in the
forward-looking statements can be found in KeyCorp's Form 10-K for
the year ended December 31, 2018, as
well as in KeyCorp's subsequent SEC filings, all of which have been
filed with the Securities and Exchange Commission and are available
on Key's website (www.key.com/ir) and on the Securities and
Exchange Commission's website (www.sec.gov). Forward looking
statements speak only as of the date they are made and Key does not
undertake any obligation to update the forward-looking statements
to reflect new information or future events.
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SOURCE KeyCorp