Comerica's three business segments provide Great Opportunities for customers
The Business Bank
Comerica's Business Bank provides companies with an array of credit and non-credit financial products and services.
2007 Achievements
- Average Middle Market loans grew 5 percent in 2007 to $16.2 billion, led by growth of 7 percent in the Texas market and 11 percent in the Western market
- Average Specialty Business loans grew 17 percent in 2007 to $4.8 billion (excludes Financial Services Division loans), with Energy Lending and Technology and Life Sciences contributing to much of the growth
- Obtained the MasterCard Performance Excellence Award for Comerica’s success in the commercial card — public sector
- Introduced a suite of trade cycle financing products for commercial customers engaged in cross-border business
- Named by the U.S. Department of the Treasury as financial agent for a debit card services program aimed at Social Security recipients
Competitive Advantages
- Expertise in forming strong relationships with corporate clients
- Solid partnership with Retail Bank and Wealth & Institutional Management
- Experienced and seasoned staff
- Rigorous credit training program
- Recognized as a clear cash management leader, as demonstrated by 16 A+ grades (the most of any banks measured) and six A grades in the Phoenix-Hecht 2007 Middle Market Monitor, and the Nilson Report’s ranking of Comerica as the largest issuer of prepaid commercial cards
The Retail Bank
The Retail Bank delivers personalized financial products and services to consumers, entrepreneurs and small businesses.
2007 Achievements
- Opened 30 new banking centers, 28 of which are in Comerica’s high-growth markets of Texas, California and Arizona
- Relocated three banking centers and completed refurbishments to 27 banking centers: 22 in Michigan, three in Texas and two in California
- Streamlined and enhanced Comerica’s personal checking account product line
- Introduced enhanced Web Bill Pay features making it easier for individuals and small businesses to manage their online bill payments
- Introduced key consumer loan product offerings into Comerica’s growth markets
- Launched strategic major marketing campaigns to attract new business
Competitve Advantages
- Skilled and knowledgeable teams
- Solid partnership with Business Bank and Wealth & Institutional Management
- Recognized by Greenwich Associates for excellence in serving small businesses
- Comerica customer contact center ranked second by O’Connor & Associates in a report measuring the sales and service effectiveness of in-bound sales agents at banks
- Highly ranked by J.D. Power and Associates in its 2007 Retail Banking Satisfaction StudySM
Wealth & Institutional Management
Comerica’s Wealth & Institutional Management division serves the needs of affluent clients, foundations and corporations.
2007 Achievements
- 14 percent net income growth versus 2006
- Launched Wealth Station – open architecture management on fiduciary platform fully integrated with financial planning
- Rolled out insurance, 401(k) and financial planning in Texas, Florida and California
- Successfully converted to state-of-the art capital markets platform and introduced new online trading and compensation programs
- Reorganized Michigan and Texas territory and private fiduciary businesses for greater efficiency and productivity
- Introduced institutional investment consulting and fiduciary back-office outsourcing services
- Created alliance with insurance companies to expand distribution and product offerings
- Initiated active fixed income separate account management
Competitive Advantages
- Superior relationship management with holistic financial services offered in local markets
- Solid partnership with Business Bank and Retail Bank
- Competitive products and services
- Sales-and-service culture focused on satisfying institutional and high net worth clients’ financial needs
