- The UK entity of Clearwater formally becomes part of KeyCorp
- Deal enhances M&A and Debt Advisory services for clients on both sides of the Atlantic
- Renewed commitment to the mid-market and regional presence across four UK offices
Corporate finance advisory firm Clearwater UK has begun a new era following the completion of its acquisition by KeyCorp, one of the largest financial services groups in the US, providing greater scale and enhanced service to clients.
The transaction, which was initially announced in April 2026, has now been cleared by the UK’s Financial Conduct Authority. KeyCorp officially announced the completion in a press release issued on August 4, 2026.
The tie-up between Clearwater UK and KeyCorp enables greater M&A and Debt Advisory support to owner managed businesses, corporates and financial sponsors, as well as deeper specialist cross-border expertise and continued collaboration with Europe to ensure stronger coverage across the region.
In highlighting the rationale for the transaction, Mark Taylor, Clearwater’s UK CEO, made clear that it is ‘business as usual’ for the firm’s commitment to the UK’s regions and mid-market segment. The firm will also continue to support clients via leading sector specialists, with this industry focus strengthened by the depth of KeyCorp’s team.
Mark Taylor said: “We are particularly proud of the growth we have seen over the past six years or so, with our collaboration with Key being one of the drivers behind this. Formalising this relationship was the obvious next step, with an increasing number of our clients seeing the benefit of having an adviser with sector strength and reach across both sides of the Atlantic. In short, with Key’s backing, we can support a wider range of transactions without losing the entrepreneurial spirit our clients value.
“Importantly, we remain committed to the UK’s mid-market segment and our regions – these are central to our proposition, and we plan to invest further into these areas. We recognise that being on the ground in Birmingham, Leeds, London and Manchester is a key strength and important both strategically and culturally.”
The business has confirmed its UK leadership team is unchanged following the completion of the transaction. Alongside UK CEO Mark Taylor are Gareth Iley (UK COO), Michael Loudon (Head of the North), Christopher Jones (Head of London) and Rob Burden (Head of the Midlands).
In June the firm also announced the promotion of 22 colleagues across various levels of the business, underlining Clearwater’s commitment to developing and rewarding its internal talent.
Mark added: “We’ve always prioritised investing in our people and that won’t change. We develop our teams in line with our cultural expectations and the evolving market. This includes ensuring our sector teams are experts able to add demonstrable value across key industries and deploying deal innovation in a way that enhances our approach to our advisory services, enabling us to do more for our clients.”
In the year to the end of March 2026, Clearwater completed 62 M&A and Debt Advisory transactions, with activity particularly strong across its Business Services, Tech & Tech Services and Industrials & Chemicals teams.
Image caption left to right: Mark Taylor (Clearwater UK CEO), Jeffrey Johnston, (Managing Director, Head of the M&A Group of KeyBanc Capital Markets), Andrew J. Paine III (Head of Key Institutional Bank President, KeyBanc Capital Markets), Andrew Morton (Chief Administrative Officer, KeyBanc Capital Markets), Michael Reeves (Clearwater UK Chairman) and Gareth Iley (Clearwater UK COO).
