Keycorp and Society Corp., which plan to complete a merger of equals early next year, unveiled on Monday a seven-member management team that will lead the combined institution.

Analysts said the appointments were widely expected, as they fairly represent the senior ranks of both institutions.

"It's a pretty obvious list," said Livia Asher, an analyst at Merrill Lynch & Co. in New York.

The companies reiterated that Keycorp chairman Victor J. Riley Jr. will become chairman and chief executive officer of the new Keycorp, while Society chairman Robert W. Gillespie will become its president and chief operating officer.

As for the rest of the management committee, Gary R. Allen will become group executive for banking at the combined entity. Mr. Allen, 45, is currently executive vice president and chief banking officer for Albany, N.Y. based Keycorp.

Another Keycorp contribution to the management team is Carter B. Chase, the Albany company's general counsel. Mr. Chase, 58, will be responsible for legal affairs at the new corporation.

From Society comes Henry L. Meyer 3d, who, like Mr. Allen, will become a group executive for banking at the combined entity. Mr. Meyer, 43, is currently vice chairman and chief banking officer of Cleveland-based Society.

6 More Appointments Due

Two other Society vice chairman, Roger Noall, 58, and James Wert, 47, will oversee administration and finance, respectively, at the new Keycorp.

The two companies, which announced their merger agreement in October, plan to elaborate on the management committee's responsibilities over the next several weeks, a Society spokesman said.

Plans also call for the naming of six other top officers, completing a planned 13-member top-management tier, the spokesman added.

The new Keycorp will be based in Cleveland and have $58 billion of assets.

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