8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 15, 2005

(Exact name of registrant as specified in charter)

Ohio	0-850	34-6542451
(State or other jurisdiction of incorporation)	Commission File Number	(I.R.S. Employer Identification No.)

127 Public Square, Cleveland, Ohio	44114-1306
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (216) 689-6300

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 5 — Corporate Governance and Management

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

     On September 15, 2005, KeyCorp’s Board of Directors elected Ralph Alvarez, president of McDonald’s North America, to the Board of Directors. Mr. Alvarez’s election represents an increase in the size of the Board of Directors to 16 members. Mr. Alvarez will serve on the Finance Committee.

     A copy of KeyCorp’s press release dated September 15, 2005 announcing Mr. Alvarez’ election is attached as Exhibit 99.1 to this Current Report on Form 8-K.

Section 9 — Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(c) Exhibits

99.1 Press Release dated September 15, 2005 announcing the election of Ralph Alvarez to KeyCorp’s Board of Directors.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	KEYCORP
	(Registrant)
Date: September 15, 2005	/s/ Daniel R. Stolzer
	By:	Daniel R. Stolzer
		Senior Vice President and Deputy General Counsel

EX-99.1

Exhibit 99.1

CONTACTS:
Bill Murschel
216.689.0457
William_c_Murschel@keybank.com
Kaitlyn Swanson
216.689.0282
Kaitlyn_Swanson@keybank.com

KEY MEDIA
NEWSROOM: www.key.com/newsroom

FOR IMMEDIATE RELEASE

RALPH ALVAREZ, PRESIDENT OF McDONALD’S NORTH AMERICA,
ELECTED TO KEYCORP BOARD OF DIRECTORS

CLEVELAND, September 15, 2005 — KeyCorp (NYSE: KEY) announced today that Ralph Alvarez, president of McDonald’s North America, has been elected to KeyCorp’s Board of Directors.

     “We are delighted to have Ralph join the Key board,” said Henry L. Meyer III, KeyCorp chairman and chief executive officer. “His insights and experience in building brand loyalty, operating a national consumer business and applying sophisticated consumer marketing techniques are particularly valuable to Key as we aggressively pursue our own client-centric strategies.”

     In his current post, Alvarez is responsible for more than 15,000 McDonald’s restaurants in the U.S. and Canada. Previously he served as chief operating officer of McDonald’s U.S.A. Before that, he served as president of McDonald’s Mexico. Alvarez joined McDonald’s in 1994. He began his career in the industry in 1977, holding positions of increasing responsibility in Europe and the U.S. at Burger King Corporation and later, Wendy’s International, Inc.

     Alvarez holds a bachelor’s degree in business administration with honors from the University of Miami in Florida.

     Alvarez’ election increases the size of KeyCorp’s board to 16 members.

     Cleveland-based KeyCorp is one of the nation’s largest bank-based financial services companies, with assets of approximately $91 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally.

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