KeyBank 2005 Annual Report Download - page 6

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2002 2003 2004 200520012000
4 ᔤKey 2005
WHAT’S CHANGED?
Stronger management team: Six of Key’s 12 senior managers
have joined the company since 2002.
More profitable business mix: Divestitures of low-return,
transaction-only businesses, such as auto leasing and lending,
have made more capital available to build industry-leading
positions in such businesses as commercial real estate and
equipment financing.
Emerging sales culture: Desktop technology, better aligned
incentive compensation plans and new cross-selling programs
are energizing the ways Key bankers deliver their ideas.
Credit-quality discipline: Key has restored its long tradition
of strong credit quality.
Accelerated Progress
Key’s Strategic Moves Paid Off In 2005
Key’s progress toward becoming a high-performing, relationship-based
company accelerated in 2005 because of the company’s ongoing strategic
actions. The result: Total return on Key’s shares since the beginning of 2001
has significantly outperformed the broad S&P 500 Index and finished
2005 about five percentage points above the S&P 500 Bank Index.
2001
Exit
Auto Leasing
Nonperforming
Assets: $947 Million
2002
Acquisitions:
Conning Asset Management, Union Bancshares
Senior Management Additions:
Tom Bunn, Vice Chairman;
Jeff Weeden, Chief Financial Officer
Nonperforming Assets: $993 Million
2005
Exit Indirect Auto Lending
Acquisitions:
Malone Mortgage Company,
ORIX Capital Markets servicing unit
Nonperforming Assets:
$307 Million
2004
Acquisitions:
American Capital Resource, Inc., American Express
Business Finance, EverTrust Financial Group,
Sterling Bank & Trust branches
Senior Management Additions:
Chuck Hyle, Chief Risk Officer;
Tim King, President, Retail Group;
Steve Yates, Chief Information Officer
Nonperforming Assets: $379 Million
2003
Acquisitions:
Toronto Dominion Leasing Portfolio,
NewBridge Partners
Senior Management Addition:
Paul Harris, General Counsel
Nonperforming Assets: $753 Million
KEY
46.14%
S&P 500
Banks
41.38%
S&P 500
2.74%
(Year Ended December 31)
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