Capping off a reorganization of its asset management group, KeyCorp appointed an investment analyst to provide market commentary to its clients.
Charles G. Crane, who has directed research for a New York money management firm KeyCorp acquired, has been named chief market strategist of Key Asset Management Inc. He will report to chairman William G. Spears.
Key's investment units-Society Asset Management Inc., Spears, Benzak, Salomon & Farrell Inc., Key Mutual Fund Advisors Inc., Key Asset Advisers Inc., and Applied Technology Investments Inc.-were consolidated into one division, with $44 billion under management.
"Charlie has been a respected voice in the investment community for his ideas relating to the markets," Mr. Spears said. "Whatever we can do to make his ideas available is an important glue to hold the client base together."
Mr. Crane's biweekly reports will be shared with clients throughout Key's investment subsidiaries.
"I've made it clear in accepting this role I'll be the same old Charlie, which means occasionally being provocative and irreverent," Mr. Crane said. "I maintain the right to keep my opinions even if different than other voices in KeyCorp."