About Comerica
If you have a cosigner, Comerica will be your copilot. The holding company owns Comerica Bank, which has more than 500 branches in about a dozen states across the US; Arizona, California, Florida, Michigan, and Texas are its primary markets. The company is organized into three main segments. The Business Bank division is the largest, offering loans, – more... deposits, and capital markets products to middle-market, large corporate, and government clients. The Retail Bank serves small businesses and consumers, while the Wealth and Institutional Management arm provides private banking, investment management, financial advisory, investment banking, brokerage, insurance, and retirement services.
In 2011 the company acquired Sterling Bancshares to strengthen its franchise in Texas. The deal, which carried a price tag in excess of $1 billion, added nearly 60 branches, mainly in the Dallas/Fort-Worth, Houston, and San Antonio metropolitan areas. Comerica is also growing by opening about 10 new bank branches a year.
The bank has long been a leading commercial lender in the US, and more than half of the company's assets are wrapped up in commercial real estate and operating loans. However, as its core small and mid-market clientele suffered during the economic downturn, so did Comerica, which saw both its revenue and income decline in 2008 and 2009. Its revenue was down in 2010, too, but the company returned to profitability that year, thanks in part to fewer charged-off loans. Comerica's net income increased again in 2011 as credit quality continued to improve.
The company's growth initiatives include increasing its lending to the energy, technology, life sciences, and mortgage banking sectors. The company hopes to leverage its established business banking relationships to cross-sell more financial products. It is also introducing new retail banking technology and courting higher-net-worth clients in its wealth management segment. – less
Comerica Employer Reviews
Comerica
Compensation is above average but beware
Management (Former Employee), Michigan – May 11, 2013
Comerica
Culture
Assistant Vice President Community Banking (Former Employee), Detroit, MI – May 9, 2013
Comerica
Too focused on sales
CSRll (Former Employee), Muskegon,MI – May 1, 2013
Comerica
Nice Place to work
Quality Control Clerk (Current Employee), Dallas, TX – April 28, 2013
Comerica
Great working team.
Customer Service Representative II (Former Employee), Southfield, MI – April 18, 2013
Working at Comerica
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