KeyCorp in Hiring Mode to Expand Investment-Banking Operation

KeyCorp plans to increase the number of managing directors and directors in its investment-banking unit by 10% this year, not counting junior hires, its highest target since 2020.

The strategy is part of an effort to reinforce ties with corporate clients and pursue fee income to help offset revenue headwinds created by tepid loan demand, according to Randy Paine, president of the bank’s KeyBanc Capital Markets Inc. subsidiary.

The investment-banking unit has more than 800 professionals, but doesn’t disclose publicly how many are managing directors or directors. Since last June, the company has added nine managing directors across technology, ...