KeyBank Community Development Lending and Investment named Naomi See a senior banker and promoted Celia Smoot to head of equity originations on May 29, 2026, a move that deepens the lender’s equity syndications bench as it pushes to grow its affordable housing finance platform.

See, who is based in Seattle, will report to Christina Knuckles and focus on raising capital while helping source, structure and syndicate investments tied to low-income housing tax credits and state credits. She will work across acquisitions, fund management and originations, giving KeyBank another hand on the side of the business that brings investors into affordable housing deals.

The timing matters because the hiring and promotion come as more people move into the same platform. Knuckles was promoted in March to head of equity syndications and fund management, Jon Burckin was named a senior banker in equity distribution in July 2025, and Smoot now takes over equity originations after more than two decades in LIHTC investing, fund structuring and community development finance. Together, the changes point to a lender trying to line up every part of the transaction chain at once.

Robert Likes said the additions reflect KeyBank’s continued investment in building a best-in-class equity syndication platform. He said the bank is strengthening its capabilities across acquisitions, syndication and distribution to better serve clients and investor partners and build on its position as one of the nation’s leading affordable housing lenders, which was recently ranked second by Affordable Housing Finance.

That ranking adds weight to the reshuffle, but it also leaves one key question unanswered: how much new capital this expanded team is expected to raise, or how many more deals it is built to handle. KeyBank says its community development lending and investment platform works across all 50 states and has earned 11 consecutive Outstanding ratings on its Community Reinvestment Act exam from the Office of the Comptroller of the Currency, which gives the hiring news a wider national backdrop. For now, See’s role suggests the lender wants sharper execution and more investor money flowing into the pipeline, even if the next round of output has not yet been spelled out.