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'sTexas 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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/j-patrick-faubion-announces-plans-to-retire-in-january-2017-300284604.html
SOURCE Comerica Incorporated
Media Contact, Wayne Mielke, (214) 462-4463 OR Investor Contacts, Darlene Persons, (214) 462-6831 or Chelsea Smith, (214) 462-6834