Overview
Comerica’s Wealth & Institutional Management segment serves the
needs of affluent clients, foundations and corporations, and includes Private
Banking, Comerica Securities, Comerica Insurance, Personal Trust, Strategic
Alliances, Institutional Trust, Retirement Services, Comerica Asset Management,
World Asset Management and Wilson Kemp.
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2006 Achievements
| • | Completed the sale of Munder Capital Management, enabling Comerica to continue to drive growth in its investment management businesses through an open architecture platform. This makes available a wide array of investment alternatives for individual and institutional investors, including Munder’s products |
| • | Enhanced the delivery of Advisory Services by Comerica Securities, through a new client segmentation method that provided more effective client service and greater efficiency |
| • | Successfully merged the back-office operations and the compliance departments of Comerica Securities and Comerica Insurance to create improved efficiencies |
| • | Introduced Executive Asset Management Suite, a product package specially designed for owners and officers of companies that are Comerica business clients |
| • | Broadened the distribution of Comerica Insurance through the hiring of a new national sales manager who has more than 20 years experience. Also added insurance specialists in the Florida and Western markets |
| • | Opened new offices in the Florida market in Wellington, Riviera Beach and Stuart. Renovated offices in the Western market |
Competitive Advantages
| • | A strong middle market corporate client base, which knows Comerica as a trusted financial institution |
| • | Superior relationship management skills. Many families have worked with Wealth & Institutional Management for up to seven generations |
| • | Tenured and experienced staff |
| • | Focus of Wealth & Institutional relationship managers on referrals and cross-sales |
| • | Investment products, resources and performance |
| • | Presence in national growth markets in California, Texas, Arizona and Florida |
Strategies
| • | Expand and improve customer access points including the acceleration of the banking center expansion program and the continued optimization of the Michigan banking center network |
| • | Energize sales with improved accountability, sales tools, incentives and processes, focused on exceeding customer needs |
| • | Implement national platforms that will improve efficiency, reduce risk and deliver consistent results |
| • | Leverage Michigan platform and capacity to support the front line in delivery of the best service and sales experience for customers |
| • | Partner with Business Bank and Wealth & Institutional Management on cross-sell opportunities |