Christopher M. Gorman
Chairman, CEO, and President at KKeyCorp
Board
Since May 1, 2020
Age
64 years
Tenure
Joined KEY in 1998 and progressed through various roles including President of Key Corporate Bank, Merger Integration Executive, President and Chief Operating Officer, ultimately becoming Chairman, CEO, and President on May 1, 2020.
Also at KeyCorp
AMK
Allyson M. Kidik
Chief Risk Review Officer and General Auditor
AGB
Amy G. Brady
Chief Information Officer
AGM
Angela G. Mago
Chief Human Resources Officer
About
Christopher M. Gorman has over 25 years of financial services leadership experience and has played a pivotal role in transforming the organization into one of the largest financial institutions in the United States.
After joining KEY in 1998 during the acquisition of McDonald Investments, he steadily advanced through numerous leadership roles. His career includes serving as President of Key Corporate Bank, leading the integration of a $40 billion financial institution with 400 branches, and holding positions as President and Chief Operating Officer before assuming his current role.
Since becoming Chairman, CEO, and President on May 1, 2020, he has overseen substantial growth and strategic initiatives at KEY. Alongside his executive responsibilities, he contributes to various organizations by serving on boards such as The Clearing House, Bank Policy Institute, and others, underscoring his broad influence in the financial services industry.
$KEY Performance Under Christopher M. Gorman
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| KeyCorp | Chief Operating Officer | 2019–2020 | N/A |
| KeyCorp | President of Banking and Vice Chairman | 2017–2019 | N/A |
| KeyCorp | Merger Integration Executive | 2016–2017 | Led integration of First Niagara Financial Group, Inc. – a $40 billion institution with 400 branches, the largest acquisition in KeyCorp’s history |
| KeyCorp | President of Key Corporate Bank | 2010–2016 | N/A |
| McDonald Investments | Various Leadership Roles | Pre-1998 | Acquired by KeyCorp in 1998 |
External Roles
| Organization | Role | Date Range [N/A] | Details [N/A] |
|---|---|---|---|
| The Clearing House | Supervisory Board Member | N/A | N/A |
| Bank Policy Institute | Board Member | N/A | N/A |
| Ohio Business Roundtable | Chairman | N/A | N/A |
| Greater Cleveland Partnership | Board Member | N/A | N/A |
| University Hospital Health System | Board Member | N/A | N/A |
| Cleveland Museum of Art | Board Member | N/A | N/A |
Fixed Compensation
Data from FY 2023
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,200,000 | Annual | Fixed annual salary for 2023 |
| Executive Physical | $2,352 | Annual | Compensation for executive physical exam |
| Executive Security | $5,290 | Annual | Security service compensation |
| Transportation | $120,782 | Annual | Transportation expense for 2023 |
| Insurance Policy | $205 | Annual | Insurance policy cost |
| Matching Contribution | $22,500 | Annual | Matching contribution for 2023 |
Performance Compensation
Data from FY 2023
Annual Incentive Award
| Metric | Value | Details |
|---|---|---|
| Threshold (Non-Equity) | $1,350,000 | Minimum performance payout requirement |
| Target (Non-Equity) | $2,700,000 | Target payout level |
| Maximum (Non-Equity) | $5,400,000 | Maximum payout cap |
| Grant Date | February 17, 2023 | Date the award was granted |
| Evaluation Period | Calendar Year ending December 31, 2023 | Performance measurement period |
Equity Incentive Awards
| Metric | Value | Details |
|---|---|---|
| Threshold Shares | 109,660 shares | Minimum share award threshold |
| Target Shares | 219,321 shares | Targeted share award quantity |
| Maximum Shares | 328,981 shares | Maximum number of shares available |
| Grant Date Stock Price | $19.15 | Share price on the grant date |
| Vesting Schedule | Four equal annual installments (Feb 17, 2024 - Feb 17, 2027) | Vesting over four years |
Stock Option Awards
| Metric | Value | Details |
|---|---|---|
| Number of Options | 165,484 options | Options granted |
| Exercise Price | $21.07 | Set at 110% of the grant date stock price |
| Grant Date Fair Value | $699,997 | Fair value at the time of grant |
Maximum Performance Share Award
| Metric | Value | Details |
|---|---|---|
| Grant Date Fair Value | $6,299,996 | Maximum award value based on performance |
| Grant Date | February 17, 2023 | Award grant date |
| Grant Date Stock Price | $19.15 | Share price on the grant date |
| Vesting Schedule | Vests in January 2027 | Vesting contingent on meeting performance conditions |
| Performance Metrics | Regulatory Capital, Cumulative EPS, CET-1 Goals | Specific numerical thresholds not detailed |
| Evaluation Period | January 1, 2025 - December 31, 2026 | Period for evaluating performance |
| Payout Cap | 150% of target, capped at 250% | Maximum payout limitations |
Target Grant Value (Plan-Based Awards)
| Metric | Value | Details |
|---|---|---|
| Total Target Grant Value | $7,570,295 | Combined target grant value for 2023 |
| Composition | 60% Cash Performance Shares, 30% RSUs | Breakdown of long-term incentive components |
| Grant Date | February 17, 2023 | Award grant date |
| Grant Date Stock Price | $19.15 | Share price on the grant date |
| Vesting Schedule | Four equal annual installments (Feb 17, 2024 - Feb 17, 2027) | Vesting over four years |
| Associated Option Details | 165,484 options; Exercise Price: $21.07; Fair Value: $699,997 | Details on related stock option awards |