EVP, Branch Network, KeyCorp
Maria Coyne has spent the better part of the last two years reorganizing KeyBank's sprawling branch network and various aspects of its retail and small-business lines. The results speak for themselves.
Loans were up 6%, and checking account production increased by 25% in the first quarter this year compared to the same period last year. Business loans jumped 52%.
Simplifying the company's hierarchy was the first step. Coyne removed a layer of middle management and consolidated 23 districts into nine regions. Branch staff was optimized around busy hours. In all, 100 branches were closed and headcount was cut by 900.
To boost productivity, Coyne created a "branch playbook" with mandatory daily activities, such as "morning huddles" and "daily cool-downs." Staff incentives were honed to center around five core metrics as opposed to 16 before with an emphasis on deepening customer relationships.
In an effort to improve service and provide a clearer career path for top talent, Coyne created two specialist roles, one for small business and another that offers investment advice for retail clients. With the bank's new emphasis on coaching and helping branch teams flourish, employees who aspire to advance can now look forward to pursuing bigger jobs in business or private banking.