KeyCorp instituted a new asset management executive structure to coordinate investment management across the bank's product lines and subsidiaries.
William G. Spears was appointed group executive for asset management, and Richard Buoncore, W. Christopher Maxwell and Gary Martzolf were named executive vice presidents reporting to Mr. Spears. Mr. Spears will remain chairman of Spears Benzak Salomon & Farrell, the money management unit KeyCorp acquired last year.
Mr. Buoncore, who was a managing director of Spears Benzak, will be responsible for overseeing the bank's investment management subsidiaries; Spears Benzak, Society Asset Management and Applied Technology Investments. Mr. Maxwell, chief executive officer of Key's Mutual Fund Advisers unit, will head the mutual funds division. Mr. Martzolf, formerly director of trust investments, will head investment product delivery, focusing on sales and marketing across KeyCorp's private bank, wealth management and corporate banking divisions.