Scotiabank completed the acquisition of a 14.9% stake in KeyCorp for $2bn.

Scotiabank, a Canadian multinational banking and financial services company, completed the acquisition of a 14.9% stake in KeyCorp, a bank-based financial services company, for $2bn. "Our investment in KeyCorp represents a cost-effective, low-risk approach to deploying capital into the US while boosting returns for our shareholders. We are pleased to have closed this transaction, which is consistent with our commitment to allocate capital from developing markets to developed markets in North America," Scott Thomson, Scotiabank President and CEO.