KeyBank 2014 Annual Report Download - page 18

Acquisitions and Divestitures
The information presented in Note 13 (“Acquisitions and Discontinued Operations”) is incorporated herein by
reference.
Competition
The market for banking and related financial services is highly competitive. Key competes with other providers
of financial services, such as bank holding companies, commercial banks, savings associations, credit unions,
mortgage banking companies, finance companies, mutual funds, insurance companies, investment management
firms, investment banking firms, broker-dealers, and other local, regional, national, and global institutions that
offer financial services. Some of our competitors are larger and may have more financial resources, while some
of our competitors enjoy fewer regulatory constraints and may have lower cost structures. The financial services
industry is likely to become more competitive as further technology advances enable more companies, including
nonbank companies, to provide financial services. Technological advances may diminish the importance of
depository institutions and other financial institutions. We compete by offering quality products and innovative
services at competitive prices, and by maintaining our products and services offerings to keep pace with
customer preferences and industry standards.
Mergers and acquisitions have led to increased concentration in the banking industry, placing added competitive
pressure on Key’s core banking products and services.
Executive Officers of KeyCorp
KeyCorp’s executive officers are principally responsible for making policy for KeyCorp, subject to the
supervision and direction of the Board of Directors. All executive officers are subject to annual election at the
annual organizational meeting of the Board of Directors held each May.
Set forth below are the names and ages of the executive officers of KeyCorp as of December 31, 2014, the
positions held by each at KeyCorp during the past five years, and the year each first became an executive officer
of KeyCorp. Because Messrs. Buffie, Devine, Hartmann, and Kimble and Ms. Brady have been employed at
KeyCorp for less than five years, information is being provided concerning their prior business experience. There
are no family relationships among the directors or the executive officers.
Amy G. Brady (48) — Ms. Brady is KeyCorp’s Chief Information Officer, serving in that role since May 2012.
Prior to joining KeyCorp, Ms. Brady spent 25 years with Bank of America (a financial services institution),
where she most recently served as Senior Vice President and Chief Information Officer, Enterprise Technology
and Operations, supporting technology delivery and operations for crucial enterprise functions. Ms. Brady has
been an executive officer of KeyCorp since she joined in 2012.
Craig A. Buffie (54) — Mr. Buffie has been KeyCorp’s Chief Human Resources Officer since February 2013.
Prior to joining KeyCorp, Mr. Buffie was employed for 27 years with Bank of America (a financial services
institution), where he served in numerous human resources positions, including as a human resources executive
for technology and operations for consumer and small business, as well as for its corporate and investment bank.
Most recently, he was Head of Home Loan Originations for Bank of America. Mr. Buffie has been an executive
officer of KeyCorp since joining in 2013.
Edward J. Burke (58) — Mr. Burke has been the Co-President, Commercial and Private Banking of Key
Community Bank since April 2014 and an Executive Officer of KeyCorp since May 2014. From 2005 until his
election as Co-President, Mr. Burke was an Executive Vice President and head of KeyBank Real Estate Capital
and Key Community Development Lending.
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