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65-682: Rochester Fringe is a member of the United States Association of Fringe Festivals. The festival's title sponsor is currently KeyBank . In its first year -- held September 19–23 -- the First Niagara Rochester Fringe Festival featured more than 180 performances, and attracted more than 33,000 attendees during the course of its five-day run. Headliners included comedian Patton Oswalt , the Harlem Gospel Choir , and aerial dance troupe Bandaloop , which danced on

130-541: A mutual savings bank , founded by Samuel H. Mather. In 1867, the modest but growing bank built Cleveland 's first skyscraper , the 10-story Society for Savings Building on Public Square . Despite erecting the tallest structure between New York and Chicago at the time, the bank largely eschewed expansion. That aspect is highlighted by the fact that when it celebrated its 100th anniversary in 1949, it still only had one office although it had over $ 200 million (~$ 2.03 billion in 2023) in deposits. This conservatism helped

195-525: A $ 16.5 billion promise. KeyBank owns corporate naming rights to the following: KeyBank is a sponsor of: Mike Birbiglia Mike Birbiglia ( / b ɜːr ˈ b ɪ ɡ l i ə / ; born June 20, 1978) is an American stand-up comedian, actor, director, producer and writer. He is a frequent contributor to This American Life and The Moth , and has released several comedy albums and television specials. His feature-length directorial debut Sleepwalk with Me (2012), based on his one-man show of

260-512: A 947-foot skyscraper that was more commensurate with a major bank headquarters than the modest buildings used in Albany. These issues made Cleveland the preferable location for the merged bank's headquarters. Conversely, Key's brand was more recognizable. The deal was structured as a merger of equals. The merged bank took the KeyCorp name, and operates under the charter of the old KeyCorp. However, Society

325-644: A bill chartering the Commercial Bank of Albany. In 1865, Commercial Bank was reorganized under the National Banking Act of 1864, and changed its name to National Commercial Bank of Albany. Over a hundred years passed before National Commercial merged with First Trust and Deposit of Syracuse to become First Commercial Banks in 1971, still a modest New York State bank with 89 offices. Victor J. Riley Jr. became president and CEO in 1973, and changed First Commercial's name to Key Bank Inc. in 1979. Riley embarked on

390-526: A community bank. By 1993, the rural strategy with local management and minimal technology made Key a very profitable bank. However, it was getting tougher for Riley and CFO William Dougherty to maintain their 15% return on equity target and investors were cooling on Key stock after many high growth years. Key began testing a Vision 2001 computer system, which sped up and enhanced the loan process through faster credit scoring, loan servicing, and collection capabilities. Although Gillespie had built Society into

455-448: A fictional Manhattan improv troupe. Birbligia also stars among an ensemble cast including Keegan-Michael Key , Gillian Jacobs , Kate Micucci , Tami Sagher , and Chris Gethard . The film was nominated for several awards, including the Critics' Choice Award for Best Comedy and St. Louis Film Critics Association award for Best Comedy. Birbiglia's Thank God for Jokes comedy special

520-558: A member of the Georgetown Players Improv Troupe with John Mulaney and Nick Kroll , worked as a server in a comedy club, and began performing at DC Improv ( The Improv ) in Washington, D.C. Birbiglia began doing improv in 1997. His sister was able to get him an interview on Conan O'Brien's show as an intern, where he worked for associate producer Jordan Schlansky . Birbiglia moved to New York in 2000, and appeared on

585-469: A motel room in Walla Walla, Washington , he ran through a second-story window. As a result of the accident, Birbiglia received 33 stitches in his leg. His show, a story on This American Life , and subsequent film Sleepwalk with Me largely centers around this event. He also had a tumor on his bladder at the age of 19. Birbiglia is married to Jen Stein, whose pen name is J. Hope Stein, and whose work

650-751: A newly created circus show ("Mardi Gras! Cirque du Fringe"), and the return of the popular "Silent Disco." The annual outdoor "Friday on the Fringe" event was held at the newly-renamed Martin Luther King, Jr. Park, and featured a performance by Canada's Circus Orange entitled "Tricycle," specifically designed for the Rochester park's layout and architecture. The festival also included a free outdoor performance of "Spoon River Rochester," based on Edgar Lee Masters ' Spoon River Anthology poems, which featured nearly 250 actors in costume throughout Gibbs Street (closed to traffic for

715-594: A plan to grow Key through acquisitions. From the mid-1970s to the early 1980s, it made numerous acquisitions throughout upstate New York . Beginning in the 1980s, Riley looked outside New York, expanding Key's footprint with an acquisition in Maine , and eventually adding branches in Massachusetts and Vermont . However, by the mid-1980s, banking regulators in New England began looking askance at New York-based banks controlling

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780-581: A recurring role in Orange Is the New Black , Billions and has guest starred in episodes of Girls , Inside Amy Schumer , and Broad City . He also filled in for Jimmy Kimmel on his talk show for a week, as Kimmel caught COVID-19. Birbiglia was born in Shrewsbury, Massachusetts , the son of Mary Jean (née McKenzie), a nurse, and Vincent Paul Birbiglia, a doctor. He is the youngest of four children. He

845-464: A regional powerhouse in the Midwest , he wanted to vault the bank into the big leagues. He concluded Key, a bank with similar ambitions, was a suitable partner. Society and Key held talks in 1990 at Gillespie's prompting, but Riley decided to stay the course of smaller, more lucrative acquisitions with obvious synergies. Yet, news reports swirled that a possible merger was in the works in the fall of 1993. Key

910-562: A specially commissioned, site-specific piece at Rochester's High Falls. The 2020 KeyBank Rochester Fringe Festival (Sept. 15-26) will be a virtual one due to the COVID-19 pandemic and its health and safety risks. The entire lineup of online shows were announced via livestream on August 25 at 10:30 EDT . Rochester Fringe Festival, a non-profit organization, is run by a board of directors made up of representatives from Rochester arts and cultural institutions, universities and businesses. Its chairman

975-650: Is Rochester attorney Justin Vigdor, and its producer is Erica Fee , a Rochester native who produced, directed, and performed at the Edinburgh Festival Fringe as well as in London’s West End. The bifurcated (divided into two branches) festival is partially curated by the Fringe – several headliners and free outdoor events – but the vast majority of the shows are curated by the venues themselves from submissions made by artists. The submission process takes place via

1040-652: Is a regular contributor to the Public Radio International -distributed program This American Life . Birbiglia temporarily replaced Jimmy Kimmel for a short time in 2022, as Kimmel recovered from COVID-19. In 2022, Birbiglia premiered his show titled The Old Man and the Pool at the Steppenwolf Theatre Company in Chicago, where it ran from April 28 to May 22. He later opened the show on Broadway at

1105-662: Is an American regional bank headquartered in Cleveland, Ohio , and the 25th largest bank in the United States. Organized under the publicly traded KeyCorp , KeyBank was formed from the 1994 merger of the Cleveland-based Society Corporation, which operated Society National Bank, and the Albany-headquartered KeyCorp. The company today operates over 1,000 branches and 40,000 ATMs, mostly concentrated in

1170-456: Is partially of Italian descent and was raised Catholic. Birbiglia attended the all-boys Catholic school St. John's High School for one year, and graduated from St. Mark's School in 1996. He says seeing comedian Steven Wright perform inspired him to begin writing jokes at age 16. He attended Georgetown University , graduating in 2000 with a degree in English. During college he performed as

1235-652: The Late Show with David Letterman in 2002. He told his first story on stage at the U.S. Comedy Arts Festival in Aspen, in 2003, and eventually became a semi-regular contributor to The Moth storytelling series. He released his first album, Dog Years , in 2004, followed by My Secret Public Album, Volume 1a (2005) a compilation of his appearances on The Bob and Tom Show . His next two albums, Two Drink Mike (2006), and My Secret Public Journal Live (2007) were released on Comedy Central Records . My Secret Public Journal Live

1300-480: The 2012 Gotham Awards , Birbiglia roasted I Heart Huckabees director David O. Russell by reading a transcript of Russell's on-set argument with actress Lily Tomlin . The event, specifically the joke and what transpired after it, later formed a large part of Birbiglia's show, Thank God for Jokes . In addition to starring in Sleepwalk with Me , Birbiglia has appeared in films such as Trainwreck , Going

1365-567: The Bleecker Street Theater . The show was presented by Nathan Lane , and The New York Times called it "simply perfect". Time Out New York named it their "Show of the Year" in 2009. Birbiglia adapted his material into the 2010 book Sleepwalk with Me, and Other Painfully True Stories and the 2011 album Sleepwalk With Me Live . The book debuted at #29 on the hardcover nonfiction New York Times Bestseller List and number four on

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1430-547: The CEO position on February 1, 2001, and then as chairman at the annual meeting on May 17 during which he was replaced by Henry Meyer. In October 2008, Key received approximately $ 2.5 billion (~$ 3.47 billion in 2023) in investment from the Troubled Asset Relief Program . In March 2011, Key was one of the last major banks to pay back TARP funds. In May 2011, Key made history by naming Beth E. Mooney, previously

1495-563: The Vivian Beaumont Theater , where it ran from November 13, 2022, to January 15, 2023, and at the Wyndham's Theatre in London's West End between September 12, 2023, and October 7, 2023. The show premiered on Netflix on November 21, 2023, to positive reviews. Birbiglia has rapid eye movement sleep behavior disorder , which causes him to live out his dreams and sleepwalk. While asleep in

1560-486: The regional economy of Cleveland , having 6,400 employees. In 2019, KeyBank announced it will be opening its first tellerless branch on May 13, 2019, in Boulder, Colorado . Instead of teller lines, the branch features private offices where clients can interact with bankers trained as "financial wellness consultants". In September 2019, Christopher Gorman was appointed president. On May 1, 2020, Christopher M. Gorman assumed

1625-857: The 2012 Sundance Film Festival and won the NEXT Audience Award. It was selected in the "Festival Favorites" category at the South by Southwest film festival in Austin, Texas and also appeared in the Nantucket Film Festival where it won the award for best writer/director. The film was produced by Jacob Jaffke and This American Life ' s Ira Glass and stars Birbiglia, Lauren Ambrose , Carol Kane , James Rebhorn , and Cristin Milioti and has cameos by Glass, Kristen Schaal , Wyatt Cenac , David Wain , Jessi Klein , John Lutz and Marc Maron . While hosting

1690-462: The 2016 Screen Actors Guild Award for Outstanding Performance by an Ensemble in a Comedy Series . In 2011, Birbiglia mounted his second one-man show, My Girlfriend's Boyfriend , which ran for four months off-Broadway and won the Lucille Lortel Award for Outstanding Solo Show. He toured My Girlfriend's Boyfriend around the world with tour dates in the United States, Australia, Canada and

1755-603: The Cherry Lane Theatre on July 26 and was scheduled to run through August 2 before a high demand for tickets extended the show's run to and through August 26. The show then received a Broadway transfer, with performances beginning October 25, 2018 and running through January 20, 2019 at the Cort Theatre . In March 2020, Birbiglia created a charity initiative called "Tip Your Waitstaff" with fellow comics to raise money for comedy clubs closed because of COVID-19. Birbiglia

1820-568: The Distance , Cedar Rapids , Your Sister's Sister and The Fault in Our Stars . He has also guest-starred in episodes of Girls , Inside Amy Schumer , and Broad City . He played the role of Oscar Langstraat in the third and fifth seasons of Showtime's hit show Billions and Danny Pearson on the Netflix series Orange Is the New Black in its third and fourth seasons, with which he shared

1885-580: The Fringe website (www.rochesterfringe.com) in March and April, and the venues work with the artists directly to create their Fringe line-ups in May and June. Rochester’s Fringe is an un-juried festival with no selection committee, and therefore any type of performance may participate. Besides "Headliners," most shows usually run an hour or less, technical aspects are kept to a minimum, and ticket prices are low (usually ranging from free to $ 20). KeyBank KeyBank

1950-438: The Fringe" event featured a performance by aerial dance troupe Grounded Aerial. The 2016 Fringe (September 15–25) drew more than 67,000 attendees, and its free "Friday on the Fringe" moved to downtown's empty Parcel 5 and featured Brooklyn's STREB Extreme Action Company. "...The act was a mind-blowing spectacle,” reported Frank DeBlase of CITY Newspaper. "Fringe Street Beat," an all-styles dance competition, made its debut, and

2015-508: The Fringe," drawing over 20,000 audience members to two performances of "Big Bang." Emmy Award-winning writer and comedian John Mulaney headlined at Kodak Hall, and the Spiegeltent featured "Cirque du Fringe: Eclectic Attraction," "The Bicycle Men," Silent Disco," "Disco Kids," and "Fringe Afternoon Tea." The 2018 KeyBank Rochester Fringe Festival (September 12–22) extended from 10 to 11 days, and offered almost 550 events and performances. Now

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2080-729: The Midwest and Northeast United States, though also operates in the Pacific Northwest as well as in Alaska, Colorado, Texas and Utah. KeyBank is the primary subsidiary of KeyCorp, which was formed in 1994 through the merger of Society Corporation of Cleveland, Ohio ("Society Bank") and KeyCorp ("Old KeyCorp") of Albany, New York . The merger briefly made Key the 10th largest US bank. Its roots trace back to Commercial Bank of Albany, New York in 1825 and Cleveland's Society for Savings, founded in 1849. Society For Savings originated in 1849 as

2145-648: The Speigeltent featured the world premiere of "Miracle Cure." "Remote Rochester" returned for its final time with a total sell-out. The Democrat and Chronicle ’s Jeff Spevak called Fringe “the thinking person’s entertainment.” The 2017 festival (September 14–23) was renamed the KeyBank Rochester Fringe Festival, and attracted more than 78,000 attendees. It featured the U.S. premiere tour of France's immersive, inflatable street theatre company, Plasticens Volants at Parcel 5 for both "Friday & Saturday on

2210-497: The U.S. premiere of "Pearl: Secrets of the Sea" for "Friday & Saturday on the Fringe," while the expanded "Fringe Finale Weekend" featured the return of Massaoke and its U.S. premiere of "Night at the Musicals" on closing night. Other headliners included comedian Mike Birbiglia and Peabody-nominated podcaster Nate DiMeo , who performed both his "Memory Palace Live" show as well as creating

2275-647: The United Kingdom. On June 2, 2013, Birbiglia performed it for the last time at Carnegie Hall . My Girlfriend's Boyfriend was featured as the number one stand-up special of 2013 by Vulture , Paste , The Laugh Button and Laughspin. It was also named one of Time Out New York ' s Best Comedy Specials of 2013. Flavorwire listed the special as one of the top 20 funniest stand-up specials of all time. For his second film, Birbiglia drew upon his early experience with improv in Don't Think Twice (2016), which centers on

2340-523: The bank in 1997–1999 (i.e. Wyoming , Florida , and Long Island ), and credit card operations to The Associates in 2000 (which was quickly thereafter acquired by Citigroup ). But Gillespie was attempting to increase fee-income by acquiring high-growth businesses, including McDonald and equipment financing firm Leastec, and decreasing the exposure to the bank's shrinking population base in its primary footprint, so-called rust belt states such as Ohio , Michigan , and Indiana . Gillespie resigned from

2405-510: The bank sidestep many depressions and financial panics. In 1958, Society converted from a mutual to a public company , which enabled it to grow quickly by acquiring 12 community banks between 1958 and 1978 under the banner Society National Bank . It went through another growth spurt from 1979 to 1989, as it acquired dozens of small banks and completed four mergers worth one billion dollars, most notably Cleveland-based Central National Bank in 1986. In 1987, Society CEO Gordon E. Heffern retired and

2470-843: The bank's president, as the first female Chairman and CEO of a top 20 bank. In January 2012, Key acquired 37 former HSBC Bank USA branches in Upstate New York from First Niagara Bank for $ 110 million. In May 2013, the company acquired mortgage servicing rights from Bank of America . In January 2015, KeyBank participated in the construction debt financing syndicate behind the Balko Wind Project purchased from Apex Clean Energy by D.E. Shaw Renewable Investments. On July 29, 2016, KeyCorp acquired First Niagara Bank for $ 4.1 billion (~$ 5.1 billion in 2023) in cash and stock. The deal strengthened Key's position in Upstate New York and New England , as well as entering Pennsylvania for

2535-415: The city of Albany and then-Governor Mario Cuomo openly fretted that the merger would be bad for the state capital since Key and its subsidiaries owned or leased more than 10% of Albany's commercial office space. By 2014, only about 225 non-branch employees were still based in Albany at the former KeyCorp Tower. Society and Key completed the merger on March 1, 1994, after regulatory approval. Although it

2600-413: The computer systems and technology expertise to combine the two banks, along with Chief Information Officer Allen J. Gula. Riley also lamented the modest Albany International Airport , which lost service from several major airlines in the 1980's and complicated air travel for Key executives. Ohio also had lower state taxes than New York. Lastly, Society had recently built Society Center (now Key Tower ),

2665-620: The core of what had been Marine Midland Bank , old KeyCorp's longtime rival. Five years earlier, First Niagara had acquired most of the upstate New York branch network of HSBC Bank USA , which had changed its name from Marine Midland in 1999; as mentioned above, Key had acquired 37 HSBC branches in 2012. As part of the transaction, 18 First Niagara branches in Erie and Niagara Counties in New York were sold to Northwest Savings Bank for antitrust reasons. KeyBank continues to play an important role in

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2730-613: The end of 1995. He decided to accelerate it by four months, however, instead stepping down on September 1, 1995. Gillespie took the helm as CEO and later chairman, allowing his protege Henry Meyer to become COO and later president. While still integrating Society Bank and KeyBank, Gillespie attempted to turn Key into a financial services powerhouse. Between 1995 and 2001, Gillespie initiated nine significant acquisitions and 6 divestitures. In late 1998, Key bought Cleveland-based brokerage firm, McDonald & Co. for $ 653 million (~$ 1.14 billion in 2023) in stock. The McDonald acquisition

2795-541: The festival. "Friday on the Fringe" -- a free, outdoor, public event -- again featured a free performance by Bandaloop and was seen by more than 13,000 people. The festival also added a new pop-up venue -- a Spiegeltent -- and curated shows within it, including "Cirque du Fringe" and a headphone-based nightly dance party called "Silent Disco." The 2014 Fringe -- held September 18–27 -- grew to 60,000 attendees and more than 380 performances. Spiegeltent performances included comedian Jay Pharoah , comedy clowns 20 Penny Circus,

2860-516: The first time with a presence in both Philadelphia and Pittsburgh . The deal made Key one of the largest banks in Pittsburgh, and gave it branches that were once part of the crosstown rival National City Corp. , which Key tried to acquire from PNC Financial Services following the National City acquisition by PNC in 2008 before being outbid by First Niagara. As a result, KeyCorp now held much of

2925-561: The hardcover nonfiction section of the Washington Post Political Bookworm Best Sellers. The book was also a finalist for the 2011 Thurber Prize for American Humor . Sleepwalk With Me Live debuted at #1 on the Billboard Comedy Charts. Birbiglia made his directorial debut with Sleepwalk with Me , based on his one-man show and which he wrote, directed, and starred in. The film premiered at

2990-595: The largest multi-arts festival in New York State, it broke all previous tickets sales and sell-out records. "Friday & Saturday on the Fringe" featured the North American premiere of the U.K.'s Massaoke at Parcel 5, while Kodak Hall hosted comedy headliner, Eddie Izzard . The 2019 KeyBank Rochester Fringe Festival expanded again to 12 days (September 10–21), breaking records with more than 100,000 attendees and highest ticket sales ever. Plasticens Volants returned with

3055-504: The occasion) and an adjoining park. In 2015, the 10-day First Niagara Rochester Fringe Festival (September 17–26) increased attendance to 63,000, ticket sales by 20%, and featured more than 500 performances. Featured acts included comedian Jamie Lissow (of the sitcom Real Rob ), cirque show "Cabinet of Wonders" in the Spiegeltent, and a site-specific, live-art theater experience called "Remote Rochester" created specifically for Rochester by Berlin artists Rimini Protokoll . The free "Friday on

3120-571: The region's capital. That, coupled with increasing competition for acquisition targets, caused Riley to essentially abandon the Northeast. Instead, he began searching for prey in the Pacific Northwest. Riley found a target-rich environment in rural and underserved areas. He snapped up small banks in Wyoming , Idaho , Utah , Washington and Oregon . He even went so far as to buy two banks in Alaska , for which he

3185-494: The role of Chairman, Chief Executive Officer, and President of KeyCorp bringing more than 30 years of financial services experience to his role. In 2021, KeyBank originated 52,366 mortgages worth $ 25 billion (~$ 27.7 billion in 2023). KeyBank provided $ 21 Million in financing options for seniors in a senior housing initiative based in New York in June of 2023. However, in May earlier that year, multiple groups claim that they broke

3250-540: The same name and in which he also starred, won awards at the Sundance and Nantucket film festivals. He also wrote, directed, and starred in the comedy-drama Don't Think Twice (2016). His 2010 book Sleepwalk with Me and Other Painfully True Stories was a New York Times bestseller and a finalist for the 2011 Thurber Prize for American Humor . Birbiglia has appeared in films such as Your Sister's Sister (2011), Cedar Rapids (2011), and Trainwreck (2015), played

3315-423: The side of One HSBC Plaza at Manhattan Square Park . Bandaloop's performance was viewed by more than 10,000 people. The First Niagara Rochester Fringe Festival expanded to 10 days in 2013 -- held September 19–28 -- and drew more than 50,000 attendees to 360 performances at more than 20 venues. Headliners included comedians Marc Maron , Dave Barry , and "Cirque du Fringe," a Cirque du Soleil-type show created for

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3380-473: The so-called rust belt states of Ohio , Michigan , and Indiana . The merger was announced in early October 1993. This time it was Riley who made the first move; he called Gillespie while recuperating at his Albany home after breaking his hip in a horse-riding accident in Wyoming. The two quickly sketched out the deal. The banks were roughly the same size in assets and had very little geographic overlap, so it

3445-684: Was flogged in the media and in banking circles. Unorthodox strategy aside, Riley quintupled Key's assets from $ 3 billion to $ 15 billion in just four years between 1985 and 1990. While the early 1990s recession rocked many banks, Key had ample capital. It bought the assets of two failed thrifts from the government: Empire Federal Savings and Loan and Goldome Savings Bank. In March 1992, it acquired Tacoma-based Puget Sound Bancorp for $ 807.2 million (~$ 1.57 billion in 2023) to bolster its presence in Washington. Also in 1992, Key acquired Home Federal Savings of Fort Collins, its first move into Colorado . Key soon amassed nearly 700 banking offices. The result

3510-428: Was frustrated with the pace of achieving his goal of running a large bank. The head of KeyBank of Washington, Hans Harjo, was pushed out over an apparent dispute to move its headquarters from Seattle to Tacoma . It also became clear that Key had to undertake a technology infrastructure upgrade to connect its far-flung offices. Meanwhile, Society was in search of higher growth and longed to expand its presence outside of

3575-399: Was making all the moves to cover up poor performance, although in hindsight that appears to be far from the truth. The concept was dubbed "burning the furniture", implying that Key would sell an asset to obfuscate earnings. For instance, Key sold its residential mortgage servicing to Countrywide Financial (now Bank of America Home Loans ) in 1995, shareholder services in 1996, various chunks of

3640-449: Was named one of the best comedy albums of the decade by The A.V. Club . In 2008 CBS picked up a sitcom pilot loosely based on Birbiglia's life and featuring him, Bob Odenkirk and Frances Conroy that ultimately never aired. He later called the failure of his pilot "the luckiest thing that ever happened to me." In 2008, Birbiglia opened Sleepwalk with Me , a one-man show that straddled standup comedy and theater, off-Broadway at

3705-592: Was released on Netflix on February 28, 2017. In April 2017, Birbiglia announced a tour of his newest show titled The New One . The tour started with 25 cities and, in December 2017, featured a limited podcast titled The Old Ones . The podcast features Mike Birbiglia analyzing his old stand-up with guests including his brother Joe Birbiglia, comedians Pete Holmes and John Mulaney , film producer and director Judd Apatow , contributor to 'This American Life' Ira Glass and his wife. The New One made its off-Broadway debut at

3770-483: Was succeeded by Robert W. Gillespie, who, although just 42, was a major figure and part of the office of the chairman for more than 5 years. Gillespie was also named chairman. Gillespie started as a teller with Society to earn money while he was finishing his graduate studies. Society Corporation acquired Toledo, Ohio -based Trustcorp in 1990 and holding company AmeriTrust Corporation , in September 1991. Ameritrust

3835-437: Was the 29th largest U.S. bank with $ 26 billion in assets, while Society was the 25th largest with $ 32 billion in assets. Both needed a merger to improve their prospects. For its part, Key needed a succession plan due to the lack of an obvious successor to the 62-year-old Riley. In one week in June 1993, the bench had become barren – Chief Banking Officer James Waterston, hired the year before, quit and publicly stated that he

3900-537: Was the largest non-banking deal in both size and impact on Key. McDonald was sold to the U.S. investment arm of UBS AG in 2007 for roughly $ 280 million (~$ 396 million in 2023). As a result, Key began processing all subsequent securities transactions under its new broker-dealer name, "KeyBanc Capital Markets Inc", in April 2007. However, investors became wary of all the Gillespie-era deals. Some believed that Gillespie

3965-556: Was the nominal survivor; the merged bank was headquartered in Cleveland and retains Society's pre-1994 stock price history. The Society name continued to be used in Society's former footprint for an additional two more years before it was retired in June 1996 and the charters were merged. Riley became chairman and CEO of the "new" KeyCorp, with Gillespie as president and chief operating officer . Despite assurances from both Riley and Gillespie,

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4030-507: Was the successor to Cleveland Trust Company , which was Ohio's largest bank during the 1940s through the late 1970s. The AmeriTrust deal established Society as a large regional bank. However, its footing became unsteady due to bad real estate loans , forcing the resignation of AmeriTrust chairman Jerry V. Jarrett in 1990. Moreover, Gillespie was able to outbid Society's larger rival, National City Corp. , which also bid for Cleveland Trust. In 1825, New York Governor DeWitt Clinton signed

4095-575: Was touted as a merger of equals, Key and Society were an odd couple. As mentioned above, Key was a decentralized community bank combining two banking networks—an eastern network in New England and upstate New York and a western one in the Rockies and Pacific Northwest—within a single corporate structure. Society, in contrast, was a classic big-city commercial bank with a centralized structure largely concentrated in three states. Riley planned to retire as CEO at

4160-414: Was touted as an out-of-market merger in which few branches needed to be sold off. It created a $ 58 billion banking behemoth with a footprint that literally stretched from Portland, Maine to Portland, Oregon . Furthermore, the deal plugged many of the perceived holes for both partners. The soft-spoken Gillespie was just 49 and Society had cultivated a deep bench of lieutenants. More importantly, Society had

4225-457: Was two separate banking networks united under a single corporate umbrella. However, this strategy actually worked well for Key. Not only was it insulated from regional economic downturns, but it avoided bad loans by lending primarily to customers in the areas it served. When Key acquired a bank, it retained most of the bank's personnel. Riley argued that a bank that entered new territory and "start(ed) shuffling people around" could not brand itself as

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