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Colorado headcount to top 400 by the year 2007
SUPERIOR, Colo. – July 14, 2005 – Key Equipment Finance, the nation’s third-largest bank-held equipment leasing company and an affiliate of KeyCorp (NYSE: KEY), today announced that the company has leased additional 27,000 square feet of office space at its global headquarters, bringing the total amount of space the company occupies at that location to 93,000 square feet.
Key Equipment Finance currently employs more than 255 employees at its corporate headquarters. The company plans to hire an additional 145 Colorado-based employees over the next two years, bringing the headcount to 400 by the year 2007.
Demand from new and existing customers, as well as the recent acquisition of American Express Business Finance, the equipment leasing unit of American Express’ small business division, is driving the expansion.
“We are pleased to report continued growth spurred by new business volume and the recent acquisition of American Express Business Finance,” said Paul A. Larkins, president and chief executive officer of Key Equipment Finance. “We are committed to providing the best possible leasing products and services to new and existing clients, and it’s gratifying to see an increasing number of companies adopting equipment leasing as a viable business solution.”
About Key Equipment Finance
Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides business-to-business equipment financing solutions to businesses of many types and sizes. The company focuses on four distinct markets:
- businesses of all sizes in the U.S. and Canada (from small business to large corporate);
- equipment manufacturers, distributors and value-added resellers worldwide;
- federal, provincial, state and local governments as well as other public sector organizations; and
- lease advisory services for manufacturers’ captive leasing and finance companies.
Headquartered outside Boulder, Colorado, Key Equipment Finance manages a $12.6 billion equipment portfolio with annual originations of approximately $5.7 billion. The company has major management and operations bases in Toronto, Ontario; Albany, New York; Chicago, Illinois; Houston, Texas; London, England; and Sydney, Australia. The company, which operates in 26 countries and employs 1,100 people worldwide, has been in the equipment financing business for more than 30 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at KEFonline.com.
Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $93 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally.
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