DALLAS, June 14, 2016 /PRNewswire/ -- Comerica Bank
today announced that J. Patrick
Faubion, executive vice president of the Business Bank, has
decided to retire in January 2017.
Comerica President Curtis C. Farmer
will assume direct oversight of the Business Bank leadership team
at that time. Farmer has had responsibility for the Business Bank
since April 2015, as well as the
Retail Bank and Wealth Management segments at Comerica. Farmer and
Faubion will work closely together over the next several months to
ensure a smooth transition.
"Retirement is a very personal decision that I have been
contemplating for some time," Faubion said. "I have dedicated my
professional career to advancing the interests of Comerica's
business clients, and have truly valued the opportunity to work
alongside so many dedicated colleagues. Therefore, it is with great
gratitude that I take this important next step in my life, while
wishing my colleagues, the bank and our business clients continued
success."
"We genuinely appreciate all that Pat has done for Comerica. He
leaves a legacy of strategic leadership, customer centricity and
community involvement, and will be missed," said Ralph W. Babb Jr., chairman and chief executive
officer. "Curt's close and active management of the Business Bank,
since being named President in April
2015, will allow for a seamless transition and we look
forward to Curt's leadership continuing Comerica's tradition of
excellence."
Over the past year, Faubion and Farmer have overseen more than
20 lines of business that provide financial solutions for
Comerica's commercial clients, including Middle Market Banking and
U.S. Banking, in addition to specialized businesses with expertise
in specific industries or focus areas, such as Commercial Real
Estate, Technology and Life Sciences, National Dealer Services,
Energy and Mortgage Banker Finance. Further, they have led teams
that offer solutions to clients across Comerica Bank including
Corporate Finance, Treasury Management Services and Leasing.
"Pat has had a number of impressive accomplishments in his
32-year tenure with Comerica. This includes the assimilation of
more than 20 banks acquired through acquisition into Comerica's
Texas market, the 2011 acquisition
of Sterling Bancshares, Inc. being the most current, and the 1984
acquisition of Grand Bancshares being the first. At that point, he
became our first chief credit officer in Texas," said Farmer.
Comerica Incorporated (NYSE: CMA) 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
$69.0 billion at March 31, 2016.
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SOURCE Comerica Incorporated