CLEVELAND, Feb. 7, 2020 /PRNewswire/ -- Key Private Bank, the wealth management division of KeyCorp (NYSE: KEY), was awarded for the best "Private Banking Client Service" and Key Family Wealth, the multi-family office division of Key Private Bank, was named "Best Outsourced CIO" at the Private Asset Management (PAM) Awards in New York City.
For more than two decades, the PAM Awards have recognized high performing firms and wealth advisors operating within the private asset management industry. An independent panel of industry experts evaluates both qualitative and quantitative performance indicators to select the winners.
Key Private Bank was selected for the best "Private Banking Client Service" from a shortlist of five distinguished private banking firms. The award recognizes industry-leading firms providing best-in-class services and innovative wealth management solutions to clients. This is the third time Key Private Bank has received an award for its client service.
Key Family Wealth was selected as "Best Outsourced CIO" from a shortlist of five talented OCIO providers. The award recognizes industry-leading firms providing best-in-class outsourced CIO capabilities and services to clients. An OCIO is an arrangement in which leading families or institutions engage a third party to manage all or a portion of their investment portfolio.
These distinct awards highlight Key Private Bank's commitment to delivering highly customized, best-in-class wealth management and financial planning solutions through exceptional client service in the high-net-worth and ultra-high-net-worth market. This is the fifth consecutive year Key Private Bank has been honored with a PAM Award.
"We are thrilled to be recognized by Private Asset Management for our commitment to delivering exceptional client service and investment management," said Terry Jenkins, president of Key Private Bank. "The client experience is paramount to all that we do, and this distinct honor highlights our commitment to delivering highly customized, best-in-class wealth management and financial planning solutions through exceptional service to the high-net-worth market."
"Being recognized for the quality of our OCIO initiatives showcases our commitment to providing industry-leading investment management capabilities to families," said Gary Poth, head of Key Family Wealth. "Our strategies are developed through a multi-generational lens that reinforces family values and focuses on the long-term protection and preservation of wealth."
About Key Private Bank
Key Private Bank is a leading provider of wealth management solutions and advice for high-net worth and ultra-high-net worth clients, including wealth advisory, investment management, trust administration, customized credit, family office and private banking services. Key's wealth management platform combines the market insights of local advisors with a national team of wealth and investment strategists to deliver proactive and personalized advice and expertise to clients. Advisors also leverage partnerships with Key's business banking and capital markets teams to build wealth plans tailored to meet each client's specific need. Key Private Bank's wealth management platform is delivered across 15 of the United States. Key Private Bank has $40.8 billion in AUM and $43.0 billion in AUA at December 31, 2019.
About Key Family Wealth
Key Family Wealth, the multi-family office division of Key Private Bank, is one of the largest multi-family offices in the country managing over $13 billion in AUM. Key Family Wealth develops sophisticated strategies that help ultra-high net worth families nationally grow, retain and protect significant wealth across generations. Backed by the highest service levels, clients receive a dedicated team of regional advisors in investments, tax, philanthropic, credit and estate planning providing services including enterprise consulting, legacy planning, education services, private foundation and accounting services.
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 $145.0 billion at December 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 approximately 1,100 branches and more than 1,400 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.