With the next millennium three years away, Comerica Inc. is hell- bent on not being left behind. Its Direction 2000, a strategic initiative of grand scale, is intended to create an organization that meets the changing needs of its retail customers at a lower cost.
The three-phase customer service project began in 1995 with a reorganization into three focused units: the Business Bank for corporate and global banking, the Individual Bank for retail banking, and the Investment Bank to handle investment services, including insurance. In phase two, Comerica consolidated back-office functions such as accounts payable and receivable, purchasing, and wire transfers. The final phase streamlined processes and eliminated redundancies firmwide.