Portland investment bank purchased by KeyCorp

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Thursday, July 17, 2014

Pacific Crest Securities will join KeyBanc Capital Markets, the corporate and investment banking arm of Cleveland-based KeyCorp.

With this transaction KeyBanc gains Pacific Crest's expertise in the technology industry, with focus areas including semiconductor and clean technology, software and systems, and Internet and digital media.

KeyCorp is also the parent company of KeyBank, the sixth biggest bank operating in Oregon in terms of market share. It has a nearly 6 percent share of the market.

Read more at Portland Business Journal

 

 

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There’s a fascinating article in the December issue of the Harvard Business Review about a profound power shift taking place in business and society. It’s a long read, but the gist revolves around the tension between “old power” and “new power” as a driver of transformation. Here’s an excerpt:

Old power works like a currency. It is held by few. Once gained, it is jealously guarded, and the powerful have a substantial store of it to spend. It is closed, inaccessible, and leader-driven. It downloads, and it captures.

New power operates differently, like a current. It is made by many. It is open, participatory, and peer-driven. It uploads, and it distributes. Like water or electricity, it’s most forceful when it surges. The goal with new power is not to hoard it but to channel it.

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Part of the 2010 Dodd-Frank financial reform law, the rule will compel public companies to be more open about employee compensation, with the assumption that greater transparency will improve corporate performance and, perhaps, help address one of the major challenges of our time: income inequality.

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That sounds like a call to arms. Or a New Year’s resolution. Old power or new, the goals are the same: to be a force for positive change in the world. Happy 2015!

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