As part of a plan to boost revenue and operate more efficiently, KeyCorp has split responsibilities for its retail and commercial banking units between two top executives.

James E. Bennett, a former McKinsey & Co. consultant who joined KeyCorp last year as a strategic planner, now oversees the retail banking business.

James S. Bingay, who had supervised KeyCorp's investment banking arm, has taken over commercial banking duties.

Mr. Bennett and Mr. Bingay, both senior executive vice presidents, share responsibilities formerly held by Gary R. Allen, the top community banking executive, who announced last month that he would retire at yearend.

They report to Henry L. Meyer, the Cleveland-based holding company's president and chief operating officer.

KeyCorp has been on a mission this year to increase retail profits by $83 million by cutting costs and boosting product sales. As of June 30, retail operations had added $36 million to earnings and helped boost second-quarter net income by 12%, to $280 million.

"KeyCorp has made it a major strategy goal to improve performance at the retail bank," said Michael Mayo, a bank analyst at Credit Suisse First Boston in New York.

Some analysts, however, have speculated that the consumer strategy is not going as well as the company had hoped-a theory that sprouted when Mr. Allen announced his departure. But KeyCorp executives said last month that the restructuring is ahead of schedule, thanks to additional cost savings.

"It's still early in the process," said Joseph C. Duwan, an analyst at Keefe, Bruyette & Woods in New York. "There needs to be further evidence of improvement."

Of the management moves, Mr. Duwan said, "It's quite logical to separate retail and commercial. Most large banking organizations have gone to a line-of-business focus."

Mr. Duwan said Mr. Bennett's consulting background gives him a unique perspective on the retail businesses.

"He has broad-based experience in the financial services industry," Mr. Duwan said. "I think that's good for retail."

Mr. Bennett retains his responsibilities for client services, an area that supports the retail bank and other Key units, as well as corporate marketing and corporate relations.

Mr. Duwan said Mr. Bingay's experience as a commercial banker makes him a logical choice for what Key calls corporate and specialty finance. Mr. Bingay was head of Key Corporate Capital, one of the areas now reporting to him, since 1990, after a 20-year stint at Citibank.

Mr. Bingay will also oversee commercial and small-business banking and Key Consumer Finance, which includes home, auto, marine, student, and credit card lending.

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