Dismissing talk that KeyCorp might be contemplating a merger, chairman and chief executive Robert W. Gillespie told shareholders Thursday that the company plans to be busy cutting costs for the next two years.

Mr. Gillespie said that within the next two quarters the company would announce a program designed to reduce its ratio of expenses to revenues to 53% by yearend 2001, from 60%.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.