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Was the Blessing of Excess Capital a Curse for KeyCorp?

While executives are eager to put excess capital to work, the sell-off of KeyCorp stock following the announcement of the First Niagara deal shows investors will react swiftly — and severely — when it appears a buyer has overpaid.

Citigroup has launched a unit in its global consumer bank dedicated to the development of its mobile banking services and promoted Heather Cox to be its CEO. »
JPMorgan Chase entered the digital wallet wars in announcing Chase Pay, a product that will launch next year. Although mobile payments have been more bark than bite so far, the company says that its product plans to use loyalty programs to lure reluctant consumers. »
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One look at the industry's C-suite makes it obvious that banks need to mirror demographic shifts far better and faster. »

SunTrust Banks has promoted its Atlanta market leader to a new position in wholesale banking and has named its first woman executive to lead the Atlanta market.

Opus Bank in Irvine, Calif., has promoted Jennifer Simmons to chief operating officer and appointed her to the executive committee.

CIT also plans to sell peripheral businesses to simplify its structure, less than three months after the close of its $3.4 billion deal for OneWest Bank.

TCF Financial in Wayzata, Minn., has hired R. Patricia Kelly as its managing director of commercial banking. Kelly joins the $20 billion-asset company from Chicago Corp., where she oversaw the investment bank's financial institutions and real estate units.

It was a celebration more than anything else, but the honorees at American Banker's annual Most Powerful Women in Banking and Finance dinner Thursday had plenty to say on themes that are sure to resonate.

Pat Callahan received high marks for her handling of the Wachovia acquisition — the largest in banking history — but it was her influence on Wells Fargo's diversity policies and sustainability practices that stand as perhaps the greatest achievement of her 38-year career.

Empowering women to become more financially independent has been a hallmark of Lori Chillingworth's career as a small-business banker. Now she's on an even bigger mission: to help more women in Utah gain seats on corporate boards and compete for political office.

With Beth Mooney in charge, KeyCorp has emerged as one of the industry's top regional banking companies while becoming a model for workplace diversity.

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