Opinion ID: 617013
Heading Depth: 2
Heading Rank: 4

Heading: Realignment of Financial Advisors

Text: During the summer of 2007, KeyBank's president, Mark Vosen, began implementing a company-wide business plan to increase the number of financial advisors throughout the country. The goal was to enable sales teams to serve more effectively by reducing the number of bank branches each advisor would serve. KeyBank set the goal of trying to rearrange territories so that each advisor was responsible for four or five branches with between $125 million and $150 million in core deposits. In January 2006, KeyBank had 81 advisors and, by January 2010, the number had increased to 211 nationwide. As the regional sales manager, Bielecki was responsible for the realignment of advisors in his region. In addition to realigning territories, Bielecki informed the Central Indiana region that a new financial advisor, Shaun Weyer, had been hired. With the inclusion of Weyer as an advisor, the Central Indiana region consisted of 6 advisors: Overly, Weyer, Doug Ferry, Kirk Green, Deb Bohannon and Marshall Byers. After the realignment, Ferry was responsible for 5 branches with a core deposit base of $186,027,005; Bohannon was responsible for 5 branches with a core deposit base of $110,798,221; Green was responsible for 5 branches with a core deposit base of $147,617,964; Byers was responsible for 7 branches with a core deposit base of $101,335,781; Weyer was responsible for 6 branches with a core deposit base of $139,416,285; and Overly was responsible for 6 branches with a core deposit base of $147,179,571. As the result of this realignment of territories, Overly lost 3 of her old branches and gained 2 new ones. Overly was upset by the realignment because she had worked hard to build-up the lost territories. According to Jennifer Miller, the junior advisor working under Overly, the realignment appeared to provide Weyer with all the best branches and to divide up the territories so that everyone was driving to inconvenient locations, except Shaun.