KeyBank Market President Ruth Mahoney Appointed New Co-Chair of CREDC

Succeeds Albany Medical Center President and CEO James J. Barba

March 13, 2018

The Capital Region Economic Development Council (CREDC) today announced that Ruth Mahoney, Capital Region Market President of KeyBank, has been appointed Co-Chair of the Council. Ms. Mahoney succeeds James J. Barba, Albany Medical Center President and CEO, who served as Co-Chair since October 2012. She will serve as business Co-Chair, joining Dr. Havidán Rodríguez, University at Albany President, as the CREDC continues its efforts to support and promote economic growth across the eight-county Capital Region.

“I congratulate Ruth Mahoney for her appointment as Co-Chair of the Capital Region Economic Development Council,” said Lieutenant Governor Kathy Hochul, Chair of the Regional Economic Development Councils. "Ruth has been successful in her executive role at KeyBank and has a wealth of knowledge of the local economy and regional projects. I look forward to working with her for the eighth round of REDCs and beyond, and thank Jim Barba for his years of leadership as Co-Chair."

Ms. Mahoney leads KeyBank's regional economic and community development efforts, and oversees the Retail Bank in the Capital Region. Previously, she served as president of the Hudson Valley/Metro New York Market and sales leader for its Key Private Bank team. She originally joined Key in 1991 as a member of Key’s Management Associate Program. She has also worked for Bank of America in Albany, where she served as Private Bank senior vice president and city executive and global wealth management executive.

Ruth Mahoney, CREDC Co-Chair and KeyBank Market President, said, "It is a tremendous honor to follow James Barba as co-chair of the CREDC, who for six years has led flawlessly and helped stimulate growth in the Capital Region by executing on a vision of local collaboration, global competitiveness and economic vibrancy. I look forward to joining Dr. Rodriguez and the council members in the efforts to continue this growth by strengthening the Capital Region's reputation as a great place to do business and by supporting innovative projects and causes that drive economic growth and highlight the cultural richness of our region."

James J. Barba, Albany Medical Center President & CEO, said, "Serving as a Co-Chair of the Capital Region Economic Development Council has been a tremendous honor and pleasure and I look forward to continuing to work on the Council as a member. I’m grateful to Governor Cuomo for developing this impactful approach to creating jobs and opportunity in New York, and for allowing me to contribute to the region’s economic growth. I my offer best wishes to President Rodriguez and Ruth Mahoney, and my thanks to all the members of the CREDC who have done so much to support the benefit of this region."

CREDC Co-Chair and UAlbany President Dr. Havidán Rodríguez said, "I am very much looking forward to working closely with Ruth Mahoney as CREDC co-chairs, and know that she brings to the table a wealth of knowledge about our regional economy. Jim Barba has been an extraordinary leader at the Council, and we all owe him a debt of gratitude for his many years of service, and for his vision in building a community-driven approach to economic development."

Ms. Mahoney formerly held Series 7 and 63 licenses and was a certified trust and financial advisor. A graduate of Marist College, she was a member and Team Captain for the school's women’s basketball team, and the 1987 Irish National Junior Basketball Team. Ms. Mahoney serves as a board director for Albany Medical Center and the United Way of New York State, and is a board member of the New York Bankers Association and the Capital Region Chamber of Commerce.

Through seven rounds of the REDC initiative, the Capital Region has secured $521.9 million in State funding to support more than 700 projects. The CREDC is composed of Albany, Columbia, Greene, Rensselaer, Saratoga, Schenectady, Warren and Washington counties.

About the Regional Economic Development Councils
The Regional Economic Development Council (REDC) initiative is a key component of Governor Cuomo's approach to State investment and economic development. In 2011, Governor Cuomo established 10 Regional Councils to develop long-term strategic plans for economic growth for their regions. The Councils are public-private partnerships made up of local experts and stakeholders from business, academia, local government, and non-governmental organizations. The Regional Councils have redefined the way New York invests in jobs and economic growth by putting in place a community-based, bottom up approach and establishing a competitive process for State resources.

After seven rounds of the REDC process, more than $5.4 billion has been awarded to more than 6,300 job creation and community development projects consistent with each region’s strategic plans, projecting to create and retain more than 220,000 jobs. For more information on the Regional Councils, visit



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