Dive Brief:
- KeyBank named Clark H.I. Khayat to become its next CFO, succeeding Don Kimble, who is set to retire May 1, 2023, according to a Thursday press release.
- Khayat joined the Cleveland-based bank in 2012 as executive vice president for corporate strategy, and later served as group head of commercial payments before becoming chief strategy officer in 2018, according to his LinkedIn profile.
- Kimble joined $190 billion-asset KeyBank in 2013 after stints as CFO at Huntington Bank and Bank One, according to his LinkedIn profile.
Dive Insight:
In Khayat, KeyBank puts its finances in 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 played a critical role 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 did not say whether it would hire a chief administrative officer — a role Kimble filled 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 sound, profitable growth.”
