M&T names former Humana, Target exec to lead retail bank
M&T Bank has named a veteran of the health care and retail industries to lead consumer and small-business banking.
Christopher Kay — who has worked for Humana, Target and Citigroup — will be responsible for managing more than 8,000 employees, 750 branches and 1,800 ATMs in his new role, the Buffalo, N.Y., bank said this week.
“People ... want more information, more holistic solutions and more timely, relevant and actionable advice,” M&T Chairman and CEO René F. Jones said in a news release. “Chris Kay will help lead our efforts to develop innovative products, services, solutions and experiences."
As consumer preferences continue to shift away from conducting daily transactions in branches, banks are increasingly looking to other sectors for inspiration. Kay’s hiring is a reflection of the rise of a more service-oriented model for bank branches.
Before joining M&T, Kay was the chief innovation officer at Humana, which is a health insurance company. He was also a managing director for several years at Citi Ventures, where he headed consumer and private banking business initiatives, including payments and digital commerce.
Before Citi, Kay worked at Target for 12 years in a number of roles. Among other things, he worked on merchandising strategy and also led the company’s health care department.
“I’m looking forward to delivering simple, convenient and secure new services that make our customers’ lives easier and help them do more with their money," Kay said in the release.