Comerica in Dallas said Tuesday that the head of its business bank is stepping down.
Comerica President Curtis Farmer will assume direct oversight of the business bank, which includes the company's struggling energy business. Farmer, who took over as president last year, also oversees the company's retail bank and wealth management divisions.
In a press release, Ralph Babb, chairman and chief executive, praised Faubion's three-decade tenure at Comerica. Faubion was the company's first chief credit officer in Texas.
Faubion is the second member of the leadership team to announce a departure in about a month. Karen Parkhill resigned as chief financial officer in May, to take a job at the medical device company Medtronic.
Comerica has recently faced pressure from activist investors to boost performance — or put itself up for sale. Returns have lagged over the past year, amid an onslaught of bad oil loans and the ongoing drag of low rates.
The $69 billion-asset Comerica in April hired Boston Consulting Group to conduct an internal review, to find ways cut expenses and grow revenue. The results are expected in July, when the company reports its second-quarter earnings.