CLEVELAND, March 2, 2021 /PRNewswire/ -- Key has
entered into a definitive agreement to acquire AQN Strategies LLC
("AQN"), an analytics-driven consultancy with deep expertise in the
financial services industry. At the close of the transaction, AQN
Founder and Managing Partner Ben Sabloff was named Key's Head of
Analytics, responsible for leading customer-focused analytics
strategies across the bank.
Founded in 2016, AQN's highly experienced operators have worked
with banks and fintechs across the industry to deliver value-based
strategies by combining rigorous data and analytics capabilities
with expertise across the credit and payments value
chain.
This acquisition aligns to Key's relationship strategy and
underscores the bank's ongoing commitment to employ data-driven
approaches that enable a simultaneous expansion of customer reach
while maintaining a rigorous focus on risk discipline.
"I am pleased to welcome Ben
Sabloff and the AQN team to Key. Having worked with them
over the past two years as a consultant to Key, I am excited to
combine Key's unique platform and AQN's deep analytics expertise,"
said Head of Payments & Analytics at Key, Ken Gavrity. "The dynamic nature of our industry
and the vast amounts of data available from our increasing digital
environment require a relentless focus on insights and
experimentation to drive customer value and create great customer
experiences. Ben has created a world class team and we look
forward to his influence and leadership as we continue our digital
and analytics transformation."
"We're very excited to join Key," said Sabloff. "We look
forward to bringing our experience and our data-driven approach to
drive strategies that will enable Key's targeted scale strategy
across its vast customer base. I'm confident that our people and
capabilities are a natural complement to the bank's strengths and
strategy."
About KeyCorp
KeyCorp's (NYSE: KEY) roots trace back
190 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 $170.3 billion at December
31, 2020. 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
more than 1,000 branches and approximately 1,400 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.
About AQN
Founded as a partnership between former
banking executive and entrepreneur, Ben
Sabloff and the founder of both Capital One and the leading
fintech venture capital firm QED Investors, Nigel Morris. With an approach that
uniquely combines the experience of leading financial services
industry practitioners and advanced strategy consulting, AQN has
emerged as the leader in advisory services for businesses across
payments, consumer lending and small business. The
consultancy has successfully delivered its consulting services
across nearly 50 institutions since its founding in 2016.
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SOURCE KeyCorp