We report the isolation of free picolyl-functionalized N-heterocyclic carbenes (NHCs), which serve as versatile precursors to access low coordinate iron and cobalt complexes. The reactivities of these new iron and cobalt complexes towards catalytic hydrosilylation of ketones have also been explored. For example, low loadings (0.05–1 mol%) of a four-coordinate iron complex bearing two deprotonated picolyl-NHC ligands can effect the fast catalytic reduction of ketones using the inexpensive industrial byproduct polymethylhydrosiloxane (PMHS) as the reductant at ambient temperature.