News by sections
ESG

News by region
Issue archives
Archive section
Multimedia
Videos
Podcasts
Search site
Features
Interviews
Country profiles
Generic business image for news article Image: NYgraphic/stock.adobe.com

01 October 2021
US
Reporter Carmella Haswell

Share this article





EXCLUSIVE: KeyBank closes its securities lending programme for private bank clients

KeyBank, a subsidiary of KeyCorp and Cleveland-based bank, will close its private banking securities lending programme.

The announcement applies only to Key Private Bank’s securities lending business and all other trading relationships with KeyBank National Association (KBNA) and KeyBanc Capital Markets (KBCM) will remain open.

In a letter addressed to borrowers and friends, the firm announced it will not initiate any new securities lending activity going forward.

The letter, which was signed by Dennis Walsh, head of securities lending and senior vice president, reads: “We currently do not have a date for our final day, but you will be receiving recalls on the open loans we have with you tomorrow morning.

“All of us have spent the majority, if not all, of our careers here at KeyBank. Securities lending has encompassed most of those years.

“Dennis [Walsh] has decided to take an early retirement and spend time travelling with his wife and golfing. Sherri will return to her personal businesses and enjoy her kids as they grow up.

“Cindy and Donna [Jacobs] are still trying to decide where this new path will take them but are planning to enjoy some well-deserved time off first.”

Subscribe advert
Advertisement
Video image
Video:
Securities Finance Technology Symposium

A heartfelt thank you to everyone who made the 6th Securities Finance Technology Symposium in London a resounding success! It was a fantastic day filled with insightful panel sessions covering crucial topics such as repo, regulation, collateral and future tech. Here are some of the highlights

Watch online
View all Videos
Get in touch
News
More sections
Black Knight Media