KeyCorp has tapped an executive to oversee the integration of its acquisition of First Niagara Financial Group.
The Cleveland company appointed Christopher Gorman as merger integration executive, according to a news release. Gorman previously was president of KeyCorp's corporate bank.
In 2010, Gorman was rumored to be a front-runner to be chief executive of KeyCorp, to succeed Henry Meyer 3rd. KeyCorp ultimately chose Beth Mooney, who had been head of community banking and vice chair.
KeyCorp did not disclose its plans to replace Gorman as head of the corporate bank. KeyCorp could not be reached for comment.
The $93 billion-asset KeyCorp agreed to buy the $40 billion-asset First Niagara, in Buffalo, N.Y., for $4.1 billion. The deal is expected to close in the third quarter.