Two weeks after nearly two-dozen Comerica Inc. employees in California defected to it, Commercial Capital Bancorp Inc. of Irvine, Calif., has been barred from soliciting Comerica's customers or hiring more of its employees.
A state court issued a temporary restraining order Aug. 1, Comerica said Friday.
Last month the $5.2 billion-asset Commercial Capital said it had hired James R. Daley, formerly an executive vice president and head of Comerica Bank's financial services division, to start a similar division - soliciting deposits and offering cash management and treasury services to title and escrow companies, homeowner associations, property management firms, and other companies.
Shortly after the announcement, 22 additional employees - about a third of the work force for the El Segundo, Calif.-based Comerica division - also defected to Commercial Capital.
Comerica said that Superior Court for San Francisco County issued a restraining order that "prohibits Commercial Capital Bank, Commercial Capital Bancorp, and the former Comerica employees from using, destroying, concealing and/or disclosing any of Comerica Bank's confidential, proprietary, or trade secret information regarding Comerica's customers and employees, among other things."
