KeyCorp

Almost $20 trillion in revenue—and a record-breaking $1.87 trillion in profits. Introducing the 2025 Fortune 500, the definitive list of the biggest companies in America.

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The Fortune 500, in its 70th year in 2024, ranks the biggest U.S. companies by revenue.

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The Fortune 500, in its 69th year in 2023, ranks the biggest U.S. companies by revenue.

This year’s Fortune 500 marks the 68th running of the list.

This year’s Fortune 500 marks the 67th running of the list.

F500-2021-396-Keycorp

Owner of KeyBank, the only major bank based in Cleveland, the financial services company has more than 1,000 branches in 15 states, and corporate banking offices in another 10. KeyCorp CEO Beth Mooney, the first woman to be named a CEO of a Top 20 U.S. bank, retired from the post in May 2020, and was succeeded by Chris Gorman.

This year's Fortune 500 marks the 66th running of the list.

F500-2020-411-KeyCorp

This financial services company, headquartered in Cleveland, Ohio, provides banking and other services to individuals and businesses in 15 states.

This year's Fortune 500 marks the 65th running of the list.

This year's Fortune 500 marks the 64th running of the list.

This year's Fortune 500 marks the 63rd running of the list.

This year's Fortune 500 marks the 62nd running of the list.

This year's Fortune 500 marks the 61st running of the list. Wal-Mart claims the top spot again. See who made the list.

Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

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KeyCorp, the holding company for KeyBank National Association, is a leading financial institution with a history dating back to 1849. The company operates across two main divisions: consumer banking and commercial banking. KeyCorp offers a wide range of services including checking and savings accounts, personal and business loans, mortgages, credit cards, and student loan refinancing. It also provides investment management, financial planning, and wealth management services, catering to both individuals and institutions, including nonprofits and high-net-worth clients.

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KeyCorp (KEY): Company Profile, Stock Price, News, Rankings

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KeyCorp | Fortune

KeyCorp (KEY): Company Profile, Stock Price, News, Rankings | Fortune

 Beth, you became the CEO of Keycorp at a difficult time. It was the height of the financial crisis. But now, revenues are growing, your stock has doubled during your tenure, you've made a big acquisition, and, thanks to that, you're now the 13th largest bank in the United States. So what's next? Where do you go from here? I've started talking to our team about what would it look like to be the best regional bank in the United States. Do you think getting there would be helped by doing some more acquisitions? Bigger doesn't necessarily mean that you're the best. So to me, we just did complete an acquisition. And I think it did help make us a better company, but I don't think acquisition is a precursor to being the best. It's only if it fits your strategy, benefits your shareholders, and helps create capabilities in the company. Tell us a little bit about the business environment for your bank. You have branches, now, in 13 states from Maine to Alaska, as you like to say. What are you hearing from your clients? How prepared are they to borrow more, invest more, hire more? There is a degree of optimism slash confidence in our borrowers and our business customers, but I will tell you there's also an overlay of a little bit of caution right now. So I think one of the things everyone needs to understand is the agenda in Washington, how is that going to sort out? And I've talked about it as there is somewhat of a coiled spring that folks are-- companies are holding back till they understand the environment more fully. But they still do remain generally optimistic. And I think the economy, while not growing gangbusters, is very stable, very strong, and keeps on progressing. So what do you think the impact of higher interest rates will have? Will higher rates scare off consumers from buying-- from getting a mortgage, getting a personal loan, a car loan? And the same for businesses. Are they going to hold off for the same reasons? I still see the consumer as relatively healthy. Home purchases are going to be up this year, mortgages are going to be up modestly, in terms of purchase mortgages, credit card, auto. You know, there is some slowing, but there is still this healthy pace of the consumer right now. And when I look at some of our corporate borrowers, they actually are going into the long-term capital markets expecting higher interest rates and trying to lock up, in public debt markets, very favorable rates. So again, there is a little trade there for the banks. You mentioned a moment ago about the Washington agenda. And just recently, Treasury Secretary Mnuchin was talking about some possible banking reforms, believing that this would be true economic growth. As a bank CEO, are you in favor of these moves? I do think it's time to look at a cost benefit analysis of where, if you were going to move the pendulum back without losing the core principles of the financial safety of the US economy. And I think the Treasury Secretary in the paper that was issued by Treasury is a good start to look at what is systemically important, where is the size of a bank or is it the complexity of a bank. What are the cost benefit of some of the regulations, such as stress tests and the frequency. I think all that is important. And I do think there is an opportunity for still a very responsible regulatory environment. But one that perhaps is slightly more constructive to allow the industry more latitude. Well the critics say that by easing up on these bank regulations, it could create another banking crisis, another financial meltdown. Does that worry you? It does not worry me. I think it will be positive for the economy. And I don't think anyone's proposing an environment where the regulations are such that you could repeat some of the sins of the past. So if the White House and President Trump called upon you for your advice, what kinds of regulations, if any, would you be in favor of? Let mainstream banks, other than the very large banks, have more control over their capital, how they invest it, how they lend it, how they return it to their shareholders, and not have as many regulations around how they run their business because I think it's a constraint to our economy. 

Keycorp CEO Believes Industry's Future Hinges On Regulation Reform

Leadership

Beth Mooney says it’s time to loosen regulations.

Beth, you became the CEO of KeyCorp at a difficult time. It was the height of the financial crisis. But now revenues are growing. Your stock has doubled during your tenure. You've made a big acquisition. And thanks to that, you're now the 13th largest bank in the United States. So what's next? Where do you go from here? I started talking to our team about what would it look like to be the best regional bank in the United States? Do you think getting there would be helped by doing more acquisitions? Bigger doesn't necessarily mean that you're the best. So to me, we just did complete an acquisition, and I think it did help make us a better company. But I don't think acquisition is a precursor to being the best. It's on Lee. If it fits your strategy, benefit your shareholders and helps create capabilities on the company, tell us a little bit about the business environment for your bank. You have branches now 13 states from Maine to Alaska. If you like to say, What are you doing for your client? How prepared are they? Borrow more, invest more, higher, more. There is a degree of optimism, flash confidence in our borrowers and our business customers. But I will tell you there's also an overlay of a little bit of caution right now. So I think one of the things everyone needs to understand is the agenda in Washington. How is that going to sort out? And I've talked about. It is there is somewhat of a coiled spring that folks are. Companies are holding back until they understand the environment more fully, but they still do remain generally optimistic. And I think the economy, while not growing gangbusters, is very stable, very strong and keeps on progressing. So what do you think the impact of higher interest rates will have? Will higher rates scare off consumers from buying from getting a mortgage, getting a personal loan, a car loan and and the same for businesses? Are they gonna hold off for the same reason I still see the consumer is relatively healthy? Home purchases are going to be up this year. Mortgages are going to be up modestly in terms of purchase mortgages, credit card, auto there is some slowing, but there is still this healthy pace of the consumer right now, and when I look at some of our corporate powers. They actually are going into the long term capital markets, expecting higher interest rates and trying to lock up in public debt markets. Very favorable rate. So again, there's a little tradeoff there for the bank you mentioned a moment ago about the Washington agenda. And just recently, Treasury Secretary Mnuchin was talking about some possible banking reforms, believing that this would be true economic growth as a bank CEO. Are you in favor of these? I do think it's time to look at a cost benefit analysis of where, where if you were going to move the pendulum back without losing the core principles of the financial safety of the U. S. Economy. And I think the Treasury secretary and the paper that was issued by Treasury is a good start to look at what is systemically important. You know, where is the size of a bank, or is it the complexity of a bank? You know, what are the cost benefit of some of the regulations such a stress test and the frequency? I think all that is important, and I do think there is an opportunity for still a very responsible regulatory environment, but one that perhaps was slightly more constructive to allow the industry more latitude. Well, the critics say that by easing up on these bank regulations, it could create another banking crisis. Another financial meltdown that worries it does not worry me. I think it will be positive for the economy, and I don't think anyone's proposing an environment where the regulations are such that you could repeat some of the sins of the past. So if the White House and President Trump calls upon you for your advice, what kinds of regulations, if any, would you be a favorable let mainstream banks, other than the very large banks, have more control over their capital, how they invest it, how they lend it, how they return it to their shareholders and not have many regulations around how they run their business? Because I think it's a constraint to our economy.

Back when you became CEO of Key Corp, you were the first woman to head up a top 20 bank in America. How do you feel about this special status and the responsibility that comes with it? It was an obligation in the best sense of the word that in the evolution of American business, women were looking to me to do this well. Not just within our bank, but across the cpountry, and so I say every day I get up to do this job with an extra special sense in doing it well because I think it will create the path for others to follow. And I hope my legacy is others will follow and I made it easier for young women to aspire to this kind of job. And others to see women in this kind of role. You've had a fascinating career, you started out a bank as a secretary and then you moved up holding just about any possible job there is in banking, and then becoming in 2011, CEO. I got to ask you, what was the secret to your success? I made lots of moves, I took Lots of dirty jobs. I was in staff roles, I was in line roles, I moved nine times in 16 years. And what I think I learned was the opportunity to have an aspiration or an ambition, but to really marry it with the willingness. To take the chance, take the job, always with the mindset of I'll work hard and earn my keep. Help create a reputation for somebody who was a can- do leader, who could get it done, and always A person who did it by including and bringing people and teams along. In those early days, you really were a trailblazer. What was the hardest part for you. I think we can sit here and remember the day when the preseident of the bank took your client to lunch, but you weren't allowed to come, because the club they were going to didnt' allow women. So I think some of the hardest part was in early days Being accepted, walking in using the term, walked into the room, sit down at the table and act like you belong, was hard. And I think the more we did it and if you just squared your shoulders and acted like you belong, guess what, now we do. Well, things are very different today because we've seen so many more women in senior positions But still what does it take to get more women at the very top levels, even CEO, in banking? Those of us who are leaders in the industry, regardless of gender, need to be very intentional. As anything that's important to us, we need to be very intentional in making sure that diverse leaders are identified, developed Give an opportunity. I don't think good intentions are enough and I think as leaders, we have to make sure that we are purposeful about building our leadership teams multiple levels down and giving people of diverse backgrounds, give them the skillsets to have the chance to continue to advance in their careers. and giving, particularly women, the belief that they can aspire and dream big. Many women who I speak with say that I got this opportunity for promotion but I was scared to take it. I didn't know if I was prepared, if I would do a good job. I didn't want to make a mistake. What is your advice to women who hold back from those kinds of opportunities? Don't hold back. I never said no to a challenge. I never said no to an opportunity. Have enough confidence in your own ability and your ability to work hard and make good decisions and go into the unknown. And I think you will learn more than you'll ever imagine that you can learn and you build confidence by accepting those challenges versus hanging back and saying I'm not ready or I don't want to do that. as you reflect back on your journey both personal and professional what was the best leadership advice that you ever received? The best leadership advice I got was, we all make mistakes and what you do after you make a mistake si the critical determinant in a career. And I had a big one early in my career That landed me in the president of the bank's office. And I'll never forget, he looked at me, and he said, what you do from here, now that this has happened is how we're all going to judge you. So I expect you to go make it right. But more importantly, if you aspire to be a leader and have the talent I think you have, don't let this knock you down. You need to bounce back from this, and that will be one of those signs that you're meant for greater things in this bank. So it's always, don't get knocked down, bounce back. [ BLANK_AUDIO ]

KeyCorp CEO: Never Say "No" to a Challenge

Beth Mooney shares the story of her journey to the top, and gives advice for women in business.

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