KeyBanc Capital Markets ("KBCM"), the corporate and investment banking arm of KeyCorp, announced the appointment of Ben Rechkemmer to head of Native American Financial Services (NASF). Rechkemmer is based in Michigan and will report to Mike Jackson, KeyBanc Capital Markets segment leader.

Previously, Rechkemmer was a relationship manager with the NAFS team over his 19 years at Key. In his new position, Rechkemmer will take a more visible role as the face and voice of Key in Native American circles, providing superb service to Native American tribal clients. Rechkemmer's banking career began with Bank One (later JPMorgan Chase) where he completed commercial banking credit analyst training and served as capital markets associate before working as a senior credit underwriter in commercial banking. He joined Key's NAFS team in its early days, establishing the underwriting framework before quickly moving into a relationship manager role with his own book of business.

"Ben is a natural fit for this role given his experience in helping NAFS grow to the national business it is today," said Jackson. "His understanding of this segment and its challenges and opportunities ideally positions him to step into this leadership role."

Rechkemmer earned his B.B.A. in Finance from the University of Iowa and MBA from the University of Washington.

Mike Lettig, Head of Native American Financial Services, will retire in early November 2023 after a 47-year career in banking. He established Key's Native American Financial Services (NAFS) business, going live with one hire and a single client. Under Lettig's leadership, NAFS grew to a national business that has raised over $15 billion in capital, with $2.5 billion in commitments, close to $3 billion in deposits, and $4 billion in investment management and trust business. NAFS works with more than 200 tribes and tribal enterprises across the country and has also made substantial grants to nonprofits including the Native American Finance Officers Association (NAFOA) and the National Center for American Indian Enterprise Development. In October, he was honored with the NAFOA Honorary Leadership Award.

"Mike's track record of developing and leading NAFS, as well as his expertise, passion and commitment for our tribal clients have been instrumental in the growth of our business," said Jackson. "I feel privileged to have learned from and partnered with him and we wish him the best in retirement."