NORTHERN INDIANA — Michael Lugli has been named market president and sales leader for the Commercial Banking and Key Private Bank teams for KeyBank’s Northern Indiana market. Lugli will assume the position upon the March 31 retirement of Randy Foster, Northern Indiana market president and Commercial Banking and Key Private Bank sales leader, after a 33-year career at Key.
Lugli joins Key Community Bank after 25 years in Key’s Risk Organization and Corporate Bank. He spent many of those years in the Asset Recovery Group, in several positions of increasing responsibility culminating in leading the group. Prior to his recent assignment as a Corporate Bank leader for the First Niagara integration, Lugli led the Health Care Real Estate Group. In his four years with this group, he led the team to increase non-interest income, syndication revenue and investment banking revenue.
“Michael’s depth of knowledge and proven record for fostering growth make him an ideal choice for this position,” said Skip Watson, regional sales executive, Great Lakes Region, KeyBank. “We are fortunate to have someone with such a deep institutional knowledge of Key, and are excited to welcome him to this new position.”
Prior to his time with Key, Lugli was vice president and general counsel at Ford Stanhope Development Corporation in Yarmouth, Maine. Previously, he was an associate at Black, Lambert, Coffin and Rudman law firm in Portland, Maine, and in-house counsel at Androscoggin Savings Bank in Lewiston, Maine, practicing in the fields of consumer protection, bankruptcy, loan negotiation, financing and acquisitions.
He received his bachelor’s degree in economics from Bates College, and his juris doctorate from the University of Maine School of Law. He currently resides in Benton Harbor.
Foster came to Key as a Commercial Banking relationship manager in 1983 after working at two other banks, and then was promoted to serve for many years as Commercial Banking sales leader. He subsequently was appointed as Northern Indiana market president and sales leader for the Commercial Banking and Key Private Bank lines of business.
Throughout his distinguished career, Foster has effected many meaningful contributions to Key. Under his leadership, Foster and his teams have earned many honors for their outstanding performance, including regional awards, President’s awards and the distinguished Chairman’s award. He has also been a pillar of the Northern Indiana community throughout his tenure, serving on many boards and in leadership positions with community organizations.
“Randy’s performance with KeyBank has been invaluable. We thank him for his many years of service and leadership, and wish him the best in his retirement,” said Watson.
Foster and Lugli will work closely to ensure a seamless transition prior to Foster’s retirement. In addition to leading commercial sales efforts in that sector, Lugli will be responsible for driving collaboration and coordination of activities and resources to generate revenue growth and increase market share.