Darrin Benhart Named KeyCorp’s New Chief Risk Officer

KeyCorp (NYSE:KEY), one of the US’ largest bank-based financial service companies announced that Darrin Benhart is set to become their new Chief Risk Officer. This announcement comes effective since January 1, 2024, wherein Benhart will succeed the outgoing Mark Midkiff, who had indicated his retirement plans in November 2023. Midkiff stays on board for a transitional period.

“I want to once again thank Mark Midkiff for his significant contribution to our company and our risk management culture and to congratulate Darrin on his appointment as Chief Risk Officer,” stated Chris Gorman, Chairman and CEO of KeyCorp. Gorman highlighted Benhart’s rich experience in the financial sector, citing his work across varied risk disciplines which includes credit and market risk, commercial credit policy, and climate change.

Darrin Benhart had previously joined Key in July 2022, after a 30-year stint with the Comptroller of the Currency (OCC), U.S. Department of the Treasury. His impressive career saw him undertake increasingly senior roles such as the Deputy Comptroller of the Currency. In his new capacity as Chief Risk Officer, Benhart will join the KeyCorp’s executive leadership team, reporting directly to Chris Gorman. He will also supervise all aspects of KeyCorp’s risk management program.

With roots tracing back almost 200 years, KeyCorp, under the brand name KeyBank National Association, has been providing a top-class range of financial services. The company boasts assets of roughly $187.8 billion (as of September 30, 2023), offering deposit, lending, cash management, and investment services. Operating in 15 states, KeyCorp has a solid network of around 1,000 branches and approximately 1,300 ATMs. The company also provides a wide spectrum of corporate and investment banking products under the KeyBanc Capital Markets name.

KeyCorp Press Release

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