Comerica has formed a national investment banking unit within its capital markets business, expanding the number of products and services available to its commercial and wealth management clients.
Comerica Securities, a subsidiary of the Dallas-based parent company, will provide merger-and-acquisition services as well as private placement advisory services, the firm said.
The group will be led by Jack Maier, head of investment banking, who joined Comerica in May 2022 from UBS.
Nicholas Amos and Jeff Wilson, who also joined Comerica last year, will serve as managing directors, and Brian Miller, who most recently was a vice president in Comerica's environmental services department, will be a director.
Maier, Amos and Wilson are based in Dallas, while Miller is based in Detroit, a company spokesperson said Thursday in an email. More staffers will be added as the business grows, according to the spokesperson.
Comerica said it is adding M&A and private placement advisory services as a result of client demand, competition from other banks and a desire to attract and retain more customers.
M&A services were "a missing component," Bill Murdock, head of Comerica Capital Markets, said in an email. Tacking on such capabilities is a way to expand the client base by offering "a competitive advantage" that entices clients "to choose to bank with Comerica," he said.
"Adding these services now allows us to help business owners through the entire life cycle of their business, including business transition plans," Murdock said.
Some of Comerica's peers have recently made similar moves. Last year, Texas Capital Bank, which is also based in Dallas, formed an investment bank as part of its
Separately, the $85.4 billion-asset Comerica has recently made three promotions of senior executives.
Peter Sefzik, who was previously executive director of Comerica's commercial bank, became the company's chief banking officer on Jan. 27. Sefzik, who has worked at Comerica since 1999, now oversees its commercial and retail banks as well as wealth management, marketing and customer experience, the company said.
Megan Crespi, who was previously Comerica's chief enterprise technology and operations services officer, became the firm's chief operating officer. Before Crespi joined Comerica in 2020, she was Ally Bank's chief technology officer. In her new role, her responsibilities will include technology, enterprise security, lending and trade services, corporate real estate and the customer contact center.
Megan Burkhart, meanwhile, was promoted from chief human resources officer to chief administrative officer.
Burkhart, who has overseen human resources since 2010, will now manage the company's business program management office and corporate responsibility, in addition to human resources, the company said.
Sefzik, Crespi and Burkhart will all continue to report to Comerica CEO Curt Farmer. All three of their roles are newly created, according to the company spokesperson.
