Cleveland-based KeyCorp has hired Jane Grebenc as executive vice president, to lead its Wealth Management group. In her new role, Ms Grebenc will oversee KeyCorp's two principal Wealth Management business groups – Key PrivateBank and Key Wealth Management. Together they provide investment, banking, insurance, and trust services to affluent individuals and families as part of the broader Key Community Banking organisation. Ms Grebenc joins Key from National City Corporation, where most recently she served as executive vice president, Private Client Group. KeyCorp is one of the US's largest bank-based financial services companies, with assets of approximately $100 billion as at 31 December 2007. Last July it acquired New York’s Union State Bank for $575 million. USB Holding added about $3 billion in assets to KeyCorp's $94 billion asset base. In February, KeyCorp sold the branch network of McDonald Investments, its brokerage subsidiary, to Swiss bank UBS. The sale included 340 financial advisors and support staff that worked in 51 offices in 14 states throughout the Northeast, Midwest, Rocky Mountain and Northwest. KeyCorp, which acquired McDonald Investments in 1998, retained its private banking, trust and wealth-management businesses as well as its institutional businesses.