Company: KEY-PI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000091576-25-000110
Chunk: 20

Company: KEYCORP /NEW/
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 2
Chunk 20
---
10 million, or 3.6%, compared to the same period one year ago. This revenue growth was primarily due to an increase in fees associated with higher assets under management balances. 

A significant portion of our trust and investment services income depends on the value and mix of assets under management. As shown in Figure 5, at June 30, 2025, our bank, trust, and registered investment advisory subsidiaries had assets under management of $64.2 billion, up 11.5% compared to June 30, 2024. The increase was driven by net positive cash in-flows and market impacts on portfolios.

16

Figure 5. Assets Under Management or Administration 

Dollars in millionsJune 30, 2025March 31, 2025December 31, 2024September 30, 2024June 30, 2024Discretionary assets under management by investment type:Equity$35,987 $33,478 $34,541 $34,500 $32,691 Fixed income14,591 14,290 13,942 14,256 14,136 Money market6,420 6,851 6,785 6,587 5,639 Total discretionary assets under management56,998 54,619 55,268 55,343 52,466 Non-discretionary assets under administration7,246 6,434 6,093 5,779 5,136 Total$64,244 $61,053 $61,361 $61,122 $57,602     

Investment banking and debt placement fees

Investment banking and debt placement fees consist of syndication fees, debt and equity securities underwriting fees, merger and acquisition and financial advisory fees, gains on sales of commercial mortgages, and agency origination fees. For the three months ended June 30, 2025, investment banking and debt placement fees were up $52 million, or 41.3%, compared to the same period a year ago. For the six months ended June 30, 2025, investment banking and debt placement fees increased $57 million, or 19.3%. The movement reflects an increase in syndications, equity new issue underwriting, and commercial real estate activities.

Service charges on deposit accounts

Service charges on deposit accounts increased $7 million, or 10.6%, for the three months