KeyBank uses chief strategy officer as next CFO | Techy Kings

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Dive Brief:

  • KeyBank named Clark HI Khayat will be the next CFO, replacing Don Kimble, who will retire on May 1, 2023, according to a press release Thursday.
  • Khayat joined the Cleveland-based bank in 2012 as executive vice president for corporate strategy, and later served as head of the commercial payments group before becoming chief strategy officer in 2018, according to his LinkedIn profile.
  • Kimble joined the $190 billion-asset KeyBank in 2013 after serving as CFO at Huntington Bank and Bank One, according to his LinkedIn profile.

Dive Insights:

In Khayat, KeyBank put its finances into someone who helped the bank build scale through niche acquisitions such as Laurel Road, Cain Brothers and Pacific Crest.

“Clark is a strategic and purpose-driven leader who has been instrumental in both developing and executing our strategy,” KeyBank CEO Chris Gorman said in a statement Thursday. “He has a deep understanding of the operating environment, our industry and our organization.”

KeyBank plans to find a new chief strategy officer to replace Khayat, but has not said whether it will hire a chief administrative officer — a role Kimble fills in addition to CFO, American Banker reported.

In his statement, Gorman thanked Kimble for his “tireless commitment, sound judgment and steadfast leadership,” which he said positioned the bank “for strong and profitable growth.”

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