Dive Brief:
- KeyBank has hired Truist’s deputy chief risk officer, Mo Ramani, to serve as its next CRO, effective Jan. 23, the Cleveland-based bank announced Wednesday.
- Ramani replaces Darrin Benhart, who will move into a newly created role as chief regulatory officer for the bank, according to a Key spokesperson.
- Ramani joins KeyBank after presumably being leapfrogged at Truist. The Charlotte, North Carolina-based lender tapped its chief information officer, Brad Bender, to become its next CRO in April when its current CRO, Clarke Starnes, retires after 42 years with the bank.
Dive Insight:
As CRO, Ramani will lead KeyBank’s risk management team. The appointment comes as the Cleveland bank enters a new phase with significant investment from Canadian lender Scotiabank, which now holds a 14.9% stake in Key.
"I am confident that with Mo's leadership, experience and expertise, we will continue to elevate our risk management practices and culture, further enabling strong, profitable growth," KeyBank CEO Chris Gorman said in a statement Wednesday.
Ramani joined Truist’s predecessor SunTrust in 2016 as chief credit officer. He previously worked in credit risk management at Goldman Sachs and Regions Bank, and began his career as an analyst at Bank of America in 1996, according to his LinkedIn profile.
"I am excited for the opportunity to assist Key with this next phase of profitable growth amidst an increasingly complex risk environment," Ramani said in Key’s release. "I look forward to leveraging Key's strong risk culture and progressing the firm further toward 'risk intelligence' by leveraging people, processes and technology."
Benhart, meanwhile, joined KeyBank in 2022 as chief enterprise risk officer before becoming CRO in January 2024. He spent three decades at the Office of the Comptroller of the Currency, ending his tenure as the regulator’s first climate change risk officer. He also served as the OCC’s deputy examiner in charge from 2017 to 2021, according to his LinkedIn profile.
