US bank KeyCorp has acquired the UK entity of corporate finance advisory firm Clearwater.

The agreement builds on the successful collaboration agreement established between Clearwater and KeyCorp in 2020.

The UK business will remain closely connected with colleagues across Europe and will continue to play an active role in supporting collaboration across the firm, strengthening its ability to deliver integrated cross border advice for clients.

Mark Taylor, CEO of Clearwater UK, said: “This is a significant milestone for our business and a major new chapter in Clearwater UK’s growth story.

“Having partnered with Key for many years, we are confident that both organisations know each other extremely well and that our values and cultures closely align.

“We are really pleased that Key recognises the strength and potential of our business, our differentiated model and the calibre of talent in our team.

“Importantly, our service offering to our clients and our core market will remain unchanged, only enhanced.”