CLEVELAND, April 20, 2015 /PRNewswire/ -- Key (NYSE: KEY) today announced that it has completed the merger of its Pacific Crest Securities broker dealer subsidiary into KeyBanc Capital Markets Inc. Pacific Crest Securities will be designated as the technology specialists for the combined entity, which will continue to operate under the KeyBanc Capital Markets brand.
"We are pleased to complete the combination of the Pacific Crest Securities and KeyBanc Capital Markets entities," said KeyBanc Capital Markets President Randy Paine. "Our combined organization will deliver enhanced capabilities and solutions to clients, and positions KeyBanc Capital Markets to capitalize on its vision to be the leading corporate and investment bank serving emerging and middle market companies in the U.S."
KeyCorp previously announced the acquisition of Pacific Crest Securities LLC on July 17, 2014.
About KeyBanc Capital Markets
KeyBanc Capital Markets provides deep industry expertise and capital markets and advisory solutions to companies in targeted verticals which include Consumer & Retail, Healthcare, Industrial, Oil & Gas, Real Estate, Utilities, Power & Renewables, Diversified Industries, and Technology, through Pacific Crest Securities. With nearly 750 professionals across a national platform, the firm has more than $25 billion of capital committed to clients. Our award winning Equity Research team provides coverage on more than 775 companies. KeyBanc Capital Markets and Pacific Crest Securities are trade names under which corporate and investment banking products and services of KeyCorp and its subsidiaries, KeyBanc Capital Markets Inc., Member NYSE/FINRA/SIPC, and KeyBank National Association ("KeyBank N.A.") are marketed. Securities products and services are offered by KeyBanc Capital Markets Inc. and its licensed securities representatives, who may also be employees of KeyBank N.A. Banking products and services, are offered by KeyBank N.A.
KeyCorp was organized more than 160 years ago and is headquartered in Cleveland, Ohio. One of the nation's largest bank-based financial services companies, Key had assets of approximately $94.2 billion at March 31, 2014.
Key provides deposit, lending, cash management and investment services to individuals and small and mid-sized businesses in 12 states under the name KeyBank National Association. 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.
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, 2014, which has been filed with the Securities and Exchange Commission and is 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.