KeyBank 2011 Annual Report Download - page 11

di
sc
ipli
ne
9
Board of Directors
We welcomed two new
directors to our Board
in November 2011.
Charles P. Cooley and
William G. Gisel, Jr. bring
extensive experience in
finance, strategic planning
and consumer products,
and we look forward to their
contributions. I also want to
thank Dr. Carol Cartwright
who is retiring from the
Board at our 2012 Annual
Shareholders Meeting. Her
keen insight, counsel and
commitment have been
much appreciated as she
helped us navigate the
incredible turbulence and
changes faced by Key and
the banking industry.
Outlook
Looking ahead, we remain
confident that we will
continue to make progress
in 2012 toward achieving
our long-term goals,
despite the challenging
operating environment. As
we continue to execute our
relationship strategy, we
are exhibiting consistent
positive momentum with
a business model that
positions us to compete
and win in the marketplace.
We believe the focused
execution of our strategy
will improve returns and
deliver shareholder value.
We are seeing indications
from our clients that they
are cautiously optimistic
about the economy. Many
of them are beginning to
make capital investments
in their operations once
again, especially to take
advantage of the historically
low current interest rates
and available liquidity.
We remain disciplined in
the way we manage our
strong capital position. This
will allow us to continue to
support our businesses
and the needs of our
clients, as well as evaluate
other appropriate capital
deployment opportunities,
such as potential dividend
increases and future
share repurchases.
As a personal note, I want to
thank you, our shareholders,
for your continuing support.
I have had the great
pleasure to meet and talk
with many of you during my
first year as CEO, and I look
forward to meeting more
of you and continuing to
communicate our progress
in the year ahead.
I also want to thank our
employees, because it is
their hard work, dedication
and commitment to
executing our strategy
and living our values that
sets Key apart.
And, on behalf of our entire
Company, I thank our
customers for making Key
their relationship bank.
Sincerely,
Beth E. Mooney
Chairman and
Chief Executive Officer
March 2012
We believe the focused execution of our
strategy will improve returns and deliver
shareholder value.