67 WALL STREET, New York - April 24, 2013 - The Wall Street Transcript has just published its Money Center Banks Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Investing in Regional Banks - Increase In Investor Risk Tolerance - Regulatory Obstacles and Fee Income Replacement - Fiscal Cliff Effects on Banking - Interest Rates and Loan-Growth Strategies - Regulatory Outlook Gains Clarity
Companies include: KeyCorp (KEY) and many more.
In the following excerpt from the Money Center Banks Report, the President of Key Corporate Bank and Chairman and CEO of KeyBank, NA discusses company strategy and the outlook for this vital industry:
TWST: Please start with an overview of the company today, your various business lines and geographic reach.
Mr. Gorman: Today, KeyCorp is a business with $4.2 billion in revenue. We ended the year at $89.2 billion in assets. Key has 1,088 branches in 14 states, principally across the top third of the United States. With approximately 15,000 employees, Key serves about 2 million clients across our franchise. We are set up in two principal businesses, particularly after our announced sale of Victory. The first business is our community bank.
The community bank serves individuals and small- to medium-sized businesses throughout the 14-state branch footprint that I just described. The community bank offers a variety of deposit, investment, lending, credit card and personal wealth management products and services. To give you a feeling for scale, the community bank represents about $49 billion in deposits, $28 billion in loans and $2.2 billion in revenue.
The other business that I am associated with is our corporate bank. Key Corporate Bank is a national industry-focused model dedicated to providing a full suite of corporate and investment banking services to targeted middle-market companies. Those targeted companies reside in six industry verticals: consumer, energy, health care, industrial, public sector and real estate.
In the corporate bank, we've really carved out an interesting niche. While there are probably 7,400 banks in the United States, only 18 or so have integrated corporate and investment banks similar to Key; however, our focus on middle-market companies is smaller than the principal focus of the 18 integrated corporate and investment banks. Conversely, of the 7,400 community banks, our industry focus, product depth and transaction knowledge sets us apart from that group as well...
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.