CLEVELAND, Feb. 3, 2011 /PRNewswire/ -- KeyCorp (NYSE: KEY) today announced three significant executive promotions that build on the recent success and support the continued growth of its Community Bank. Tim Lathe has been promoted to the newly-created position of Executive Vice President and Sales Executive, Key Community Bank. Tim Swanson has been promoted to lead Key Private Bank, filling Lathe's position. Finally, Tom Tulodzieski has been promoted to Great Lakes Regional President, filling the position recently vacated by Bill Koehler, who was recently named President of Key Community Bank. Lathe and Swanson report to Koehler.
The executive moves are part of the senior leadership evolution currently underway at KeyCorp. On November 18, 2010, the bank announced that Beth E. Mooney will succeed Henry Meyer as Chairman and CEO of the bank in May 2011.
"These executives have played critical roles over the past two years helping Key emerge as a profitable institution focused on future growth," said Koehler. "As a bank, we are committed to our strategy of putting clients first and building enduring relationships with them. The management structure supports our most critical objectives, including client acquisition, strengthening risk management, and continually improving our culture of uncompromising execution and customer service. Our strong local management teams will benefit directly from these appointments, as will our customers and shareholders."
Tim Lathe Promotion
Formerly the head of Key Private Bank, Lathe will partner with Key's business segments, Corporate Bank and field leaders to grow revenue and contribution margin. He is responsible for ensuring the continued success of the Community Bank model by leveraging synergies and partnerships in all business segments, the Corporate Bank, and Key's centralized partners. In this new role, the bank's three Regional Presidents, Tulodzieski; Wes Lawrence (West Region) and Hugh Donlon (Northeast Region), will report to Lathe. During his career, Lathe has held a variety of leadership positions including Executive Vice President and head of National City Corporation's (now PNC) Private Client Group. He previously managed the Multinational Department of Corporate Banking, and in 2000 was elected President and Chief Executive Officer of National City Bank of the Midwest, which comprised National City's state banking organizations in Michigan, Illinois and Missouri.
Tim Swanson Promotion
Previously the chief investment officer of Key Private Bank, Swanson will continue to implement the strategies he helped to develop, and will execute growth plans for Key Private Bank's investment, trust, banking and wealth planning businesses. Prior to joining Key, Swanson served as Executive Vice President and Chief Investment Officer for the Private Client Group at National City Corporation. From 2006-2008, he also served as President, Chief Executive Officer and Trustee of Allegiant Funds, National City's mutual fund family. Swanson previously served in a variety of asset management roles at Wachovia, including head of equities for Wachovia Asset Management and co-creator/co-manager of the Wachovia Emerging Markets Fund.
Tom Tulodzieski Promotion
In his new role, Tulodzieski will lead KeyBank's seven districts throughout Ohio, Michigan and Indiana, and will focus on delivering Key's products and services to the bank's Retail, Business Banking, Commercial Banking and Key Private Bank clients throughout the region. During his 25-year tenure at Key, Tulodzieski has held a number of sales and leadership roles, and for the last 10 years, he has served as president of KeyBank's Eastern Ohio District.
Cleveland-based KeyCorp (NYSE: KEY) is one of the nation's largest bank-based financial services companies, with assets of approximately $92 billion. Key companies provide investment management, retail and commercial banking, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. For more information about Key, visit https://www.key.com/.