KeyBank Appoints Robert Weiss to Lead Family Wealth Business

Rhea-AI Summary

KeyCorp (NYSE: KEY) has appointed Robert Weiss as Head of Key Family Wealth to lead their ultra-high net worth client segment. Based in New York City, Weiss brings over 20 years of senior leadership experience in wealth management and will report to Key Wealth President Joe Skarda.

Weiss joins from First Republic (now part of J.P. Morgan Wealth Management), where he served as Regional Business Leader across NY, NJ, and CT. His previous roles include establishing SunTrust's Northeast Private Wealth Division and serving as Global Head of Advice Lab at J.P. Morgan.

Key Family Wealth, the multi-family office division of Key Private Bank, manages approximately $23 billion in AUM and is one of the largest multi-family offices in the country. KeyCorp, with assets of approximately $190 billion as of September 30, 2024, operates through approximately 1,000 branches and 1,200 ATMs across 15 states.

Positive

• Key Family Wealth manages substantial AUM of $23 billion
• Appointment of experienced executive with over 20 years of senior leadership in wealth management
• Strong institutional presence with $190 billion in assets

Negative

• None.

News Market Reaction

+0.52%

1 alert

+0.52% News Effect

On the day this news was published, KEY gained 0.52%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

CLEVELAND, Jan. 6, 2025 /PRNewswire/ -- KeyCorp (NYSE: KEY) announced that Robert Weiss has joined the company as Head of Key Family Wealth where he will collaborate across the enterprise to grow the ultra-high net worth client segment. He is based in New York City and reports to Key Wealth President Joe Skarda.

"Robert is a proven leader in the wealth management industry," said Skarda. "He brings a high level of expertise, values and client dedication aligned with our approach and overall strategy. I am confident he will deliver value for our business, clients and teams." 

"I am pleased to join Key Wealth at a time of tremendous growth," said Weiss. "The industry-leading capabilities that Joe Skarda and his team have developed are a clear differentiator for Key, and I'm excited to share these impressive offerings with advisors and the families they support."

Weiss brings to his role more than 20 years of senior leadership experience in wealth management. He joins Key from First Republic, now part of J.P. Morgan Wealth Management, where as Regional Business Leader across New York, New Jersey and Connecticut, he was responsible for overall growth, product strategy and business development planning.

Prior to First Republic, Weiss was at SunTrust where he established and led the Northeast Private Wealth Division. He also held leadership positions at Alliance Bernstein and was Global Head of Advice Lab for J.P. Morgan, where he led a team of wealth management subject matter experts to create and deliver intellectual capital to clients. Weiss earned an MBA in Finance from the State University of New York, Buffalo. He holds FINRA licenses Series 7, 9, 10, 24 and 63, an insurance license and is a CFA^® charterholder. 

About Key Family Wealth
Key Family Wealth the multi-family office division of Key Private Bank, is one of the largest and oldest multi-family offices in the country managing approximately $23Bn in AUM. Key Family Wealth develops and implements impactful investment, tax, and estate strategies to help ultra-high net worth families grow, retain, and protect wealth across generations. Clients receive a dedicated team of advisors with expertise in investments, tax, philanthropic, credit and estate planning who are focused on delivering world class client experience. 

About KeyCorp 
KeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $190 billion at September 30, 2024. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also 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 throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

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SOURCE KeyCorp

FAQ

What is the current AUM of Key Family Wealth as of 2024?

Key Family Wealth manages approximately $23 billion in assets under management (AUM).

What is Robert Weiss's previous experience before joining KeyCorp (KEY)?

Robert Weiss previously worked at First Republic (now J.P. Morgan Wealth Management) as Regional Business Leader, established SunTrust's Northeast Private Wealth Division, and served as Global Head of Advice Lab at J.P. Morgan.

What is KeyCorp's (KEY) total asset value as of September 2024?

KeyCorp had assets of approximately $190 billion as of September 30, 2024.

How many branches and ATMs does KeyBank (KEY) operate in 2024?

KeyBank operates approximately 1,000 branches and 1,200 ATMs across 15 states.

Who does the new Head of Key Family Wealth report to at KeyCorp (KEY)?

Robert Weiss reports to Key Wealth President Joe Skarda.