DALLAS, Aug. 31, 2015 /PRNewswire/ -- Comerica
Incorporated (NYSE: CMA) today announced that John D. Buchanan, 52, has been named Executive
Vice President, Legal Affairs. Buchanan will be a member of
Comerica's Management Executive Committee and will report to
Ralph W. Babb Jr., Chairman and
Chief Executive Officer. It is anticipated that Buchanan will
assume the role of Executive Vice President, Governance, Regulatory
Relations and Legal Affairs, on or around January 1, 2016, succeeding Jon W. Bilstrom, who currently holds the
position. After a period of transition, Bilstrom plans to
retire in March 2016.
Prior to joining Comerica in January
2003, Bilstrom served as President and Chief Executive
Officer of The Bar Plan Mutual Insurance Company, of St. Louis, Missouri. Previously, he had served
as General Counsel and Secretary to the board of directors at
Mercantile Bancorporation, also of St.
Louis.
"Jon Bilstrom has been an
invaluable member of Comerica's management team for more than 12
years," said Babb. "The insights and counsel he shared through a
period of incredible change in the financial services industry have
been greatly appreciated. Jon
Bilstrom and John Buchanan
will work closely together over these next several months to ensure
a smooth transition. John Buchanan's
significant experience as a banking attorney will be a tremendous
asset to us going forward."
Buchanan joined Comerica today, August
31, 2015. Prior to joining Comerica, he was with the Federal
Reserve Bank of Dallas, where he
served as Senior Vice President, General Counsel and Corporate
Secretary to the Federal Reserve Bank of Dallas' board of directors, a position he had
held since March 5, 2012. Buchanan
has more than 23 years of experience as a banking attorney.
Previously, he served as Senior Executive Vice President at Regions
Financial Corporation. He also has experience serving as General
Counsel and Corporate Secretary for Regions Financial Corporation,
AmSouth Bancorporation and SouthTrust Bank in Birmingham, Alabama. Buchanan has served on
numerous committees and boards, including the Financial Services
Roundtable Lawyers Council and the American Bar Association Banking
Committee. He also served on the board of directors for Mercedes
Benz US International. He holds a master's degree of law in
taxation from New York University School of
Law and a juris doctor degree from Vanderbilt University School of Law. He also earned
a bachelor's degree in economics from Washington & Lee University. Prior
to his legal career, Buchanan was an Army officer and helicopter
pilot.
Comerica Incorporated is a financial services company
headquartered in Dallas, Texas,
and strategically aligned by three business segments: The Business
Bank, The Retail Bank, and Wealth Management. Comerica focuses 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
$69.9 billion at June 30, 2015.
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SOURCE Comerica Incorporated