38.2 F
Fort Worth
Monday, October 26, 2020
Banking Comerica names Farmer as CEO, Babb named executive chairman

Comerica names Farmer as CEO, Babb named executive chairman

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...

Comerica Inc.(CMA) on April 23 announced that Curtis C. Farmer, president, Comerica Inc. and Comerica Bank, has been named CEO and President of Comerica Incorporated and Comerica Bank. Ralph W. Babb Jr. has been named Executive Chairman, Comerica Incorporated and Comerica Bank. Farmer will continue reporting to Babb, and both Farmer and Babb will continue serving as members of the Comerica Incorporated Board of Directors and the Comerica Bank Board of Directors. In addition, as Executive Chairman, Babb will continue to chair the Comerica Incorporated Board of Directors and the Comerica Bank Board of Directors.

As CEO, Farmer, 56, will be responsible for all lines of business and Credit, as well as Comerica’s support and operations teams, including Finance, Human Resources, Risk, Technology, Legal and Marketing. The Audit department will continue to report directly to the Audit Committee of the Comerica Incorporated Board of Directors.

“Curt’s focus on relationship banking and his experience in the financial services industry, as well as at Comerica, make him ideally suited for the role of CEO,” said Babb. “I believe that Curt’s strong leadership, integrity, and commitment to our customers, colleagues and the communities we serve will further Comerica’s success in the years to come.”

Farmer joined Comerica as executive vice president of Wealth Management in 2008, from Wachovia Bank, where he spent 23 years. He was named Vice Chairman of Comerica’s Retail Bank and Wealth Management divisions in 2011, and was named President of Comerica Incorporated and Comerica Bank in 2015, adding the Business Bank to his areas of responsibility. In 2018, Farmer’s responsibilities expanded to include Technology and Operations. Farmer was named to Comerica Incorporated’s Board of Directors in 2018. In 2019, he began overseeing Credit.

Farmer holds a bachelor’s degree from Wake Forest University, where he also earned his master’s degree in business administration. Active in the community, Farmer’s board affiliations include Wake Forest University, Wake Forest Baptist Medical Center and the Circle 10 Council of the Boys Scouts of America, where he currently serves as President.

Comerica Incorporated (CMA) is a financial services company headquartered in Dallas

Latest News

Texas Trust Credit Union names Ginia Chapline COO

Ginia Chapline has been promoted from Senior Vice President of Talent to Chief Operating Officer at the $1.5...

Initial public offerings scheduled to debut week of Oct. 26

Initial public offerings scheduled to debut next weekNEW YORK (AP) — The following is a list of initial public offerings planned for...

Southside Bancshares: 3Q Earnings Snapshot

TYLER, Texas (AP) _ Southside Bancshares Inc. (SBSI) on Friday reported third-quarter net income of $27.1 million.The Tyler, Texas-based bank said it...

Bank OZK: 3Q Earnings Snapshot

LITTLE ROCK, Ark. (AP) _ Bank OZK (OZK) on Thursday reported third-quarter earnings of $109.3 million.The Little Rock, Arkansas-based bank that has...

First Financial: 3Q Earnings Snapshot

ABILENE, Texas (AP) _ First Financial Bankshares Inc. (FFIN) on Thursday reported third-quarter net income of $52.9 million.The Abilene, Texas-based bank said...