KeyCorp, Eastern get relief as activist investor backs down

Key insight: KeyCorp and Eastern Bankshares, which both say they are focused on organic growth, won't face proxy battles this spring from the activist investor HoldCo Asset Management.What's at stake: The threat of a proxy contest started last year, when HoldCo criticized both banks for allegedly overpaying for acquisitions and diluting shareholder value.Forward look: HoldCo warned Monday that it will continue to own shares in both banks and keep tabs on their boards to make sure they're protecting sharehol ...