A wealth management firm signs a partnership deal with a sports team, continuing a theme of such firms seeking to push brands via this route.

Ohio-based Key Private Bank has agreed a deal to become the official wealth management partner with NHL team Buffalo Sabres. This is one of a number of deals between wealth managers and the sports industry in the US and further afield.

The multi-year deal includes branding opportunities at the home of Buffalo Sabres, KeyBank Center, as well as numerous events with clients and the team, Key said in a statement. 

This agreement is in addition to one in place that makes KeyBank, the official bank of the Buffalo Sabres and naming rights holder to the team’s home, KeyBank Center. This deal also includes gold ring partnership designation for KeyBank.

“KeyBank is proud to expand our already strong relationship with the Buffalo Sabres,” said Gary Quenneville, regional executive for KeyBank in Upstate New York. “We are excited about the increased visibility this deal will give to Key Private Bank, the services it provides and the opportunity this gives us to grow with one of the NHL’s premiere franchises.”  

"Key Private Bank holds the same community values as its parent company and is the ideal fit as our official wealth management partner,” said Buffalo Sabres managing partner and president, Russ Brandon. “KeyBank has continually shown a commitment to the betterment of our community through programs like the community benefits plan, and we are proud to call it the official bank of the Sabres and the naming rights partner of KeyBank Center. We are equally proud today to welcome Key Private Bank.”

Key Private Bank is a banking firm which offers services in estate planning, trust, investment management, insurance, financial planning, banking and credit for both individuals as well as businesses. This publication reported in September that Key Private Bank had appointed Douglas Banbury to managing director and head of Key Family Wealth Investments. This publication also interviewed wealth management figures at the bank about its strategy and future direction (see here).

There have been a number of partnership agreements between wealth managers and sports teams over the last few months. This publication reported in August that LGT Vestra US had become an official UK founding partner of the Jacksonville Jaguars, the UK’s NFL home team.

Individuals sportsmen and women have done sponsorship deals with financial organizations. For example, Fred Couples, the top-class golfer who won tournaments such as the Masters with his trademark elegant swing, has been named as a brand ambassador for Berenberg, Germany’s oldest bank. At one end of the scale, UBS, the world’s largest wealth manager, is a sponsor to Formula One, the motor racing tournament.  Barclays sponsors Phil Mickelson, three-time winner of the Masters and winner of a number of other majors and top-ranking tournaments. BNP Paribas, the French bank and parent of US-based Bank of the West, sponsors a number of tennis tournaments around the world.