Month: February 2024

SYRACUSE, N.Y., February 6, 2024 /3BL/ – A $500,000 investment from KeyBank through the CenterState CEO Foundation will help CenterState CEO expand business coaching and technical assistance programs for Black, Indigenous and other People of Color (BIPOC), women- and veteran-owned firms in Central New York. This grant is part of KeyBank’s commitment to invest $40 billion in the communities it serves and support diversity, equity and inclusion efforts.

This funding will also play a significant role in helping CenterState CEO scale efforts to expand access to business financing for under-capitalized founders, for whom traditional business loans and investments are often challenging. It will support the launch and growth of underrepresented and BIPOC firms through training, coaching and technical assistance, through CenterState CEO’s Up Start program and other small business development programming, including a real estate developer-in-residence pilot. It will also provide direct lending to and investment in undercapitalized firms via CenterState CEO’s Growth + Equity Fund.

“This unique approach to equitable growth by CenterState CEO will help entrepreneurs from all backgrounds have access to assistance and financing they need that will help our region grow,” said Stephen Fournier, KeyBank Central New York Market President. “We are proud to invest in their efforts that will make it possible for marginalized entrepreneurs to build successful futures and generational wealth.”

“Systemic barriers have often left the talent of many entrepreneurs in our community untapped and their potential under supported,” said Dominic Robinson, senior vice president of Inclusive Growth at CenterState CEO. “This investment from KeyBank will support important tools like the Growth + Equity Fund and Up Start that address these equity gaps and scale their economic impact on entrepreneurs from historically disinvested populations and neighborhoods.”

Ultimately, as participants in these programs build successful businesses, they will achieve financial sustainability and begin to build generational wealth. As drivers of the local economy, they will gain stronger voices in local leadership, participate in the regeneration of the built environment, and drive economic growth and revitalization in these neighborhoods.

“Building generational wealth is key to building strong neighborhoods and strong economies,” said Tamika Otis, corporate responsibility officer for KeyBank in Central New York. “This investment by Key will kelp CenterState CEO continue the important work they are doing to level the playing field and make our community more accessible, equitable and successful.”

Since 2017, KeyBank has followed through on community commitments totaling more than $599 million in Central New York, supporting affordable housing and community development projects; small business and home lending to low-to-moderate income individuals and communities; and transformative philanthropy.

ABOUT KEYBANK

KeyBank’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, KeyCorp is one of the nation’s largest bank-based financial services companies, with assets of approximately $188 billion at December 31, 2023.

Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

ABOUT CENTERSTATE CEO & THE CENTERSTATE CEO FOUNDATION

CenterState CEO is Central New York’s premier business leadership and economic development organization, committed to creating a region where business thrives, and all people prosper. Its vision is to be recognized as a visionary leader, effective advocate, exceptional employer and a force for positive outcomes for the community.

The mission of the CenterState CEO Foundation is to attract philanthropic support for CenterState CEO programs that remove barriers to economic prosperity for people and places. These programs help residents access quality jobs, inclusive workplaces and entrepreneurship opportunities, as well as build vibrant neighborhood business centers. Supported activities are designed in collaboration with community partners and focus on engaging historically marginalized populations including women, people of color, Indigenous people, veterans, New Americans and individuals with low-to-moderate incomes.

Originally published by Northwestern Mutual on January 31, 2024

MILWAUKEE, February 6, 2024 /3BL/ – Northwestern Mutual has been named one of the World’s Most Admired Companies by FORTUNE magazine – a prestigious recognition the company has earned for several years. Northwestern Mutual secured the No. two ranking in the social responsibility, quality of management, financial soundness and quality of products and services categories. The company also ranked highly for people management and use of corporate assets.

“We’re pleased to be recognized as a FORTUNE World’s Most Admired company and trusted leader in our industry,” said John Schlifske, chairman, president and CEO, Northwestern Mutual. “After an exceptional year of business performance, this recognition is further evidence that our distinctive and comprehensive approach to financial planning – combining insurance and investments – has never been more relevant. Our approach is proven to deliver superior outcomes for the clients we proudly serve and ensure Northwestern Mutual provides value for generations to come.”

For more than two decades, FORTUNE has surveyed leading global executives, board directors and financial analysts, evaluating companies across more than 50 industries on a variety of attributes. Based on the results of this annual review, the publication identifies companies with the strongest reputations and business results, naming the best to its Most Admired list.

In addition to this year’s World’s Most Admired Companies recognition, Northwestern Mutual continues to provide financial well-being to policyowners by earning elite financial strength ratings each year. Additionally, the company will once again break its own industry-leading dividend payout record, with an expected $7.3 billion to be delivered to its policyowners in 2024.

About Northwestern Mutual

Northwestern Mutual has been helping people and businesses achieve financial security for more than 165 years. Through a comprehensive planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what’s most important. With more than $570 billion of total assets being managed across the company’s institutional portfolio as well as retail investment client portfolios, nearly $35 billion in revenues, and $2.2 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than five million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. Northwestern Mutual ranked 111 on the 2023 FORTUNE 500.

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (investment advisory and services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance). Not all Northwestern Mutual representatives are advisors. Only those representatives with “Advisor” in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services.

Ratings are for The Northwestern Mutual Life Insurance Company and Northwestern Long Term Care Insurance Company as of the most recent review and report by each rating agency. Ratings are as of 11/23 (Moody’s Investors Service), 8/23 (A.M. Best Company), 8/23 (Fitch Ratings) and 5/23 (S&P Global Ratings). Ratings are subject to change.

SOURCE Northwestern Mutual

Jennifer Lee, 1-800-323-7033, mediarelations@northwesternmutual.com