KeyCorp in Cleveland has a new leader for its wealth management segment.

The $94 billion-asset company said in a press release Monday that it had hired Terry Jenkins as president of Key Private Bank. He is succeeding Tim Swanson, who will remain KeyCorp's chief investment officer.

Jenkins will be responsible for the development and execution of strategy for KeyCorp's wealth management division, which includes the company's trust, investment, banking and wealth planning businesses. Prior to joining KeyCorp, Jenkins worked at BMO Harris.

Jenkins will report to E.J. Burke, co-president of Key Community Bank. Burke said in the release that Jenkins' banking and wealth management experience makes him an "ideal" president due to his "strong track record in developing high-performing teams and driving revenue growth."

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