DALLAS, April 23, 2019 /PRNewswire/ -- Comerica
Incorporated (NYSE: CMA) today announced that Curtis C. Farmer, President, Comerica
Incorporated and Comerica Bank, has been named Chief Executive
Officer (CEO) and President of Comerica Incorporated and Comerica
Bank. Ralph W. Babb Jr. has been
named Executive Chairman, Comerica Incorporated and Comerica Bank.
Farmer will continue reporting to Babb, and both Farmer and Babb
will continue serving as members of the Comerica Incorporated Board
of Directors and the Comerica Bank Board of Directors. In addition,
as Executive Chairman, Babb will continue to chair the Comerica
Incorporated Board of Directors and the Comerica Bank Board of
Directors.
As CEO, Farmer, 56, will be responsible for all lines of
business and Credit, as well as Comerica's support and operations
teams, including Finance, Human Resources, Risk, Technology, Legal
and Marketing. The Audit department will continue to report
directly to the Audit Committee of the Comerica Incorporated Board
of Directors.
"Curt's focus on relationship banking and his experience in the
financial services industry, as well as at Comerica, make him
ideally suited for the role of CEO," said Babb. "I believe that
Curt's strong leadership, integrity, and commitment to our
customers, colleagues and the communities we serve will further
Comerica's success in the years to come."
Farmer joined Comerica as executive vice president of Wealth
Management in 2008, from Wachovia Bank, where he spent 23 years. He
was named Vice Chairman of Comerica's Retail Bank and Wealth
Management divisions in 2011, and was named President of Comerica
Incorporated and Comerica Bank in 2015, adding the Business Bank to
his areas of responsibility. In 2018, Farmer's responsibilities
expanded to include Technology and Operations. Farmer was named to
Comerica Incorporated's Board of Directors in 2018. In 2019, he
began overseeing Credit.
Farmer holds a bachelor's degree from Wake
Forest University, where he also earned his master's degree
in business administration. Active in the community, Farmer's board
affiliations include Wake Forest
University, Wake Forest Baptist Medical Center and the
Circle 10 Council of the Boys Scouts of America, where he currently
serves as President.
Comerica Incorporated (NYSE: CMA) is a financial services
company headquartered in Dallas,
Texas, and strategically aligned by the Business Bank, the
Retail Bank, and Wealth Management. Comerica's approximately 8,000
colleagues focus on relationships, and helping people and
businesses be successful. In addition to Texas, Comerica Bank locations can be found in
Arizona, California, Florida and Michigan, with select businesses operating in
several other states, as well as in Canada and Mexico. Comerica reported total assets of
$69.7 billion at March 31, 2018. To receive e-mail alerts of
breaking Comerica news, go to
http://www.comerica.com/newsalerts.
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SOURCE Comerica Incorporated