Charles River Development, a State Street Company (NYSE:STT), today announced that Key Private Bank, the wealth management division of KeyCorp (NYSE:KEY), selected the Charles River Wealth Management Solution to expand its investment product offering. The fully managed solution provides Key Private Bank with portfolio management, trading, and compliance across its equities, options, and fixed income products. Key Private Bank also leverages Charles River’s mobile solution for advisors, Charles River Anywhere.
“Adopting Charles River creates significant opportunities for Key Private Bank to scale our value-added investment solutions to our clients,” said Joe Calabrese, National Head of Investment, Fiduciary and Banking Services at Key Private Bank. “This signals a new chapter in the evolution of our business, and we are excited that we can better serve our clients by trading in all security types while reducing risk and improving efficiency across our investment functions.”
“For firms like Key Private Bank, centralizing portfolio management and trading operations sets the stage for transformational growth,” said Randy Bullard, Global Head of Wealth, Charles River. “An enterprise, scalable platform that supports the needs of wealth managers is essential in today’s competitive marketplace.”
Key Private Bank is a leading provider of wealth management solutions and advice for high-net worth and ultra-high-net worth clients, including wealth advisory, investment management, trust administration, customized credit, family office and private banking services. Key’s wealth management platform combines the market insights of local advisors with a national team of wealth and investment strategists to deliver proactive and personalized advice and expertise to clients. Advisors also leverage partnerships with Key’s business banking and capital markets teams to build wealth plans tailored to meet each client’s specific need. Key Private Bank’s wealth management platform is delivered across 15 of the United States. Key Private Bank has $40.8 billion in AUM and $43.0 billion in AUA at December 31, 2019.
