The investment, trust and wealth management arm of KeyCorp, Key Private Bank, has expanded into the trust and asset protection business with the establishment of Key National Trust Company of Delaware. The new company will provide trust services for wealthy clients and prospects seeking asset protection, tax savings and flexibility using Delaware's favorable laws.
The Cleveland-based private bank announced today that it has appointed two industry veterans to launch the new unit. Former PNC trust specialist Anne Marie Levin will be senior vice president and national Delaware trust specialist. She'll be responsible for working with attorneys and accountants nationally to assist in managing sophisticated estate and tax planning considerations for high net worth clients. Isabel Pryor joins Key Private Bank from Wells Fargo as senior vice president and regional trust manager and she'll focus on the administration of the Delaware Trusts, including exercising sound fiduciary judgment, mitigating risk and maintaining compliance.
Catherine O'Malley Kearney, director of trust administration with Key Private Bank, said this expansion into trust services has been a strategic objective for the firm. KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $89 billion. It provides deposit, lending, cash management and investment services to individuals and small businesses in 14 states under the name of KeyBank N.A. and provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries under KeyBanc Capital Markets.