Key Private Bank snags Wells Fargo exec to lead 2 regional markets

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Key Private Bank has nabbed another Wells Fargo executive to help build out its wealth management business.

The bank recruited Tom Scaturro, a former Wells Fargo Private Bank regional managing director, to lead its market teams in Florida and the Hudson Valley/Metro New York region as senior market leader, Key announced on Thursday.

He will "drive collaboration within Key's business segments to grow the private bank client base," the bank said.

Scaturro will report to Terry Jenkins, president of Key Private Bank, and Peter Cosgrove, a regional market leader at the private bank.

In his previous role at Wells Fargo Private Bank, Scaturro oversaw all client relationship teams in suburban New York. He also held roles at Wells Fargo as the national sales director and the senior director of sales.
Scaturro is Key's second hire in less than month from Wells Fargo. In March, it hired Virginia Kuper, a former Wells Fargo regional manager, to lead a team of 10 local private bankers in the Hudson Valley and metro New York market.

"We continue to attract top talent with our commitment to clients and communities along with our exceptional wealth management platform," Jenkins said in a statement.

Key Private Bank generated $123 million in revenue from trust and investment services in the fourth quarter of 2016, up 17.1% year-over-year, according to the bank's latest earnings press release. The private bank employs more than 350 wealth advisers and has $35.9 billion in assets under management, it claims.

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Private banks Career moves Terry Jenkins Tom Scaturro KeyCorp Key Private Bank