KeyCorp (NYSE: KEY) — The bank holding company named Randy Paine president of its broker-dealer subsidiary KeyBanc Capital Markets Inc. Paine will oversee the company’s corporate and investment banking platform as well as the public finance and public sector business segments. Paine joined a Key predecessor company in 1993 and went on to become co-head of KeyBanc Capital Markets.
Keynote Systems Inc. — The San Mateo, Calif.-based cloud computing company announced that chief executive Umang Gupta will retire and transition the CEO role to software and technology industry veteran Jennifer Tejada who, most recently, served as executive vice president and chief strategy officer for software company Mincom Pty Ltd. The move comes on the heels of private equity firm Thoma Bravo LLC’s acquiring Keynote for $395 million.
Lincoln International — The Chicago investment bank hired Damon McLaren (pictured) as a director. McLaren, based in the firm’s Los Angeles office, will be a part of Lincoln’s financial sponsors group. McLaren joins Lincoln from Wells Fargo Securities LLC, where he led the firm’s coverage of middle-market financial sponsors on the West Coast. Before that, he worked at Barrington Associates, which was acquired by Wells Fargo Securities in August 2006, for over 13 years.
Microsoft Corp. (Nasdaq: MSFT) — Steve Ballmer has decided to retire as chief executive of the Redmond, Wash.-based software giant. He is slated to step down within 12 months. Ballmer joined Microsoft in 1980 and took over as CEO in 2000 from now-chairman Bill Gates. Under his leadership, Microsoft made several major acquisitions including the 2011 purchase of Skype Technologies SA for more than $8.5 billion and the 2012 takeover of social network Yammer Inc. for $1.2 billion. A search committee that includes Gates will consider both internal and external candidates for the CEO position. "There is never a perfect time for this type of transition, but now is the right time,” said Ballmer regarding his exit, adding that the company needs a CEO that will help steer Microsoft into becoming more of a devices and services company.
Seward & Kissel LLP — Jonathan Brose joined the law firm's New York office as partner in the tax group where he will focus on investment funds, structured finance and capital markets transactions. Previously, he was a partner with Sidley Austin LLP.
For last week's column...
