The Company operates through its subsidiary, KeyBank National Association Through KeyBank and other subsidiaries, it provides a range of retail and. KeyCorp, is a bank holding company. Through KeyBank and certain other subsidiaries, the Company provides a range of retail and commercial. banking. As one of the nation's largest bank-based financial institutions, KeyBank proudly serves 15 states with over branches and ATMs. Learn more about. Key acquired the naming rights as part of its purchase of First Niagara. Distributions to the directors under the Keycorp and its affiliates Deferred Compensation Plan in respect to the interest bearing account are in the form of cash and under the Common Shares account are in the form of KeyCorp Common Shares. KeyCorp also has other financial services subsidiaries that are subject to regulation, keycorp and its affiliates and examination by the Federal Reserve Board, as well as other applicable state and federal regulatory agencies and self-regulatory organizations. Set forth below is a brief discussion of selected laws, regulations and regulatory agency policies applicable to Key. InKeyCorp elected to become a financial holding company. In line with the current trend in banking toward consolidation of holdings, KeyCorp consolidated several New York State operations into one financial institution.