Activist hedge fund HoldCo Asset Management has stepped back from planned proxy contests at KeyCorp and Eastern Bancshares after both regional lenders agreed to a series of governance and capital allocation changes sought by the investor, according to a report by Reuters.
In a presentation released on Monday, HoldCo said it no longer intends to pursue proxy battles at the banks’ 2026 annual meetings, citing recent actions taken by management and their boards. KeyCorp has a market capitalisation...
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