DALLAS, Nov. 22, 2011 /PRNewswire via COMTEX/ -- Comerica Incorporated (NYSE: CMA) today announced that James J. Herzog has been named executive vice president and Treasurer. The announcement was made by Karen L. Parkhill, vice chairman and Chief Financial Officer.
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"Jim Herzog is a 27-year Comerica veteran who brings considerable experience and expertise to his new role," said Parkhill. "He is extremely well suited for this position."
As Treasurer, Herzog will be responsible for managing Comerica's liquidity and interest rate risks, insurable risks, capital planning and special finance projects.
Herzog succeeds Michael H. Michalak, who was named Interim Treasurer on July 20, 2011. Michalak will now serve as executive vice president, Planning, Forecasting, Analysis and Enterprise Risk, reporting to Parkhill.
Herzog joined Comerica in 1984 and has held numerous Finance positions of increasing scope and responsibility, focusing on forecasting and planning, pricing, economic capital and reviews of strategic business lines. Most recently, he served as senior vice president and divisional finance officer for the Business Bank, a position he has held since 2007.
He holds bachelor's and master's degrees from Oakland University, and is a Certified Management Accountant.
Herzog, who will report to Parkhill, will continue to be based at Comerica's corporate headquarters in Dallas.
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 $60.9 billion at September 30, 2011. To receive e-mail alerts of breaking Comerica news, go to http://www.comerica.com/newsalerts.
SOURCE: Comerica Incorporated
