KeyCorp has named an executive to spearhead development of a 401(k) product for small businesses.

The Cleveland-based banking company promoted Ann Leuth to senior vice president of institutional asset services. She will be in charge of developing investment products to market to corporate customers. The company announced the move on Feb. 16.

Right now, Ms. Leuth is adapting KeyCorp's Prism 401(k) product for use by small businesses - the fastest-growing portion of the retirement plan market. KeyCorp manages more than $4 billion in the 401(k) plans it administers for large and midsize companies.

She will report to Linda Grandstaff, the executive vice president responsible for corporate and international services.

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