Comerica Inc. said a lack of scale prompted its deal to sell its proprietary defined contribution plan record keeping business to the Wachovia Bank unit of Wells Fargo & Co.

"As we looked at the business mix within our portfolio and institutional management business, we realized that the retirement record keeping business was really a small part of our institution overall," Curt Farmer, an executive vice president of wealth and institutional management at Comerica, said in an interview Tuesday. "We realized that this was an area where we weren't ever going to be a scale player."

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