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KeyBanc Capital Markets Appoints Ben Rechkemmer To Lead Native American Financial Services

CLEVELAND (Oct. 24, 2023) – KeyBanc Capital Markets Inc. (“KBCM”), the corporate and investment banking arm of KeyCorp (NYSE:KEY), announced the appointment of Ben Rechkemmer to head of Native American Financial Services (NASF). Rechkemmer is based in Michigan and will report to Mike Jackson, KeyBanc Capital Markets segment leader.  

Previously, Rechkemmer was a relationship manager with the NAFS team over his 19 years with Key. In his new position, Ben will take a more visible role as the face and voice of Key in Native American circles, providing superb service to Native American tribal clients. Ben’s banking career began with Bank One (later JPMorgan Chase) where he completed commercial banking credit analyst training and served as capital markets associate before working as a senior credit underwriter in commercial banking. He joined Key’s NAFS team in its early days, establishing the underwriting framework before quickly moving into a relationship manager role with his own book of business.

“Ben is a natural fit for this role given his experience in helping NAFS grow to the national business it is today,” said Jackson. “His understanding of this segment and its challenges and opportunities ideally positions him to step into this leadership role.”

Rechkemmer earned a B.B.A. in Finance from the University of Iowa and an MBA from the University of Washington.

Mike Lettig, Head of Native American Financial Services, will retire in early November 2023 after a 47-year career in banking. He established Key’s Native American Financial Services (NAFS) business, going live with one hire and a single client. Under Mike’s leadership, NAFS grew to a national business that has raised over $15 billion in capital, with $2.5 billion in commitments, close to $3 billion in deposits, and $4 billion in investment management and trust business. NAFS works with more than 200 tribes and tribal enterprises across the country and has also made substantial grants to nonprofits including the Native American Finance Officers Association (NAFOA) and the National Center for American Indian Enterprise Development. In October, he was honored with the NAFOA Honorary Leadership Award.

“Mike’s track record of developing and leading NAFS, as well as his expertise, passion and commitment for our tribal clients have been instrumental in the growth of our business,” said Jackson. “I feel privileged to have learned from and partnered with him and we wish him the best in retirement.”

About KeyBanc Capital Markets

KeyBanc Capital Markets is a leading corporate and investment bank providing capital markets and advisory solutions to dynamic companies capitalizing on opportunities in changing industries. Our deep industry expertise, broad capabilities and unique ideas are seamlessly delivered to companies across the Consumer & Retail, Diversified Industries, Healthcare, Industrial, Oil & Gas, Real Estate, Utilities, Power & Renewables, and Technology verticals. With over 800 professionals across a national platform, KeyBanc Capital Markets has more than $50 billion of capital committed to clients and an award-winning Equity Research team that provides coverage on over 600 publicly traded companies. Securities products and services are offered by KeyBanc Capital Markets Inc., member FINRA/SIPC, and its licensed securities representatives, who may also be employees of KeyBank N.A. Banking products and services, are offered by KeyBank N.A.

About KeyCorp

KeyCorp’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $195 billion at June 30, 2023. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.