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KeyCorp (KEY) Chairman and Chief Executive Beth Mooney is not swearing off acquisitions, but she made clear Tuesday that they remain low on her list of priorities.
June 12
Tim Lathe is leaving KeyCorp (KEY) because his position within its community bank is being eliminated roughly 17 months after it was created.
A KeyCorp spokesman confirmed Lathe's departure Friday but declined to comment on whether the elimination of his position was part of a broader restructuring at the $85 billion-asset company.
Lathe had been head of Key Private Bank when he was named to the newly-created post of executive vice president and sales executive of Key Community Bank in February 2011. In the role, Lathe oversaw the bank's three regional presidents and reported to Key Community Bank president Bill Koehler.
The announcement of Lathe's promotion came not long after the company said that Beth Mooney would become chairman and chief executive in May 2011 and shortly after Koehler assumed his new post. In a news release at the time, KeyCorp said that the promotions of Mooney, Koehler and Lathe was "part of the senior leadership evolution" that was ongoing at the company.
Before joining Key, Lathe served as president and chief executive for National City Bank of the Midwest, which included National City's banking operations in Michigan, Illinois and Missouri. National City was acquired by PNC Financial Services Group (PNC) in 2008.
