KeyCorp plans to add three First Niagara Financial Group officials to its board this year after the two banks merge.
Gary Crosby, Austin Adams and Carlton Highsmith – directors of the $39.9 billion-asset First Niagara in Buffalo, N.Y. – would join the KeyCorp board once the $93 billion-asset bank completes its acquisition of First Niagara sometime in the third quarter, the companies said Friday.
Their $4.1 billion agreement, first announced in October, requires three members of First Niagara's board to become directors of the Cleveland-based KeyCorp, bringing the board's total number of seats to 17.
Crosby has been president, chief executive and a director of First Niagara since 2013. Adams has been a director since 2014 and was previously chief information officer at JPMorgan Chase, which he retired from in 2006. Highsmith has been a director of First Niagara since 2011, when it acquired New Alliance Bancshares, on whose board he also sat.
