Dallas-based Comerica Inc. has named Curtis C. Farmer president and CEO of Comerica Inc. and Comerica Bank, and Ralph W. Babb Jr. has been named executive chairman of both Comerica entities.
As CEO, Farmer will be responsible for all lines of business and credit, as well as Comerica’s support and operations teams, including finance, human resources, risk, technology, legal, and marketing. The audit department will continue to report directly to the audit committee of the Comerica Inc. board of directors.
“Curt’s focus on relationship banking and his experience in the financial services industry, as well as at Comerica, make him ideally suited for the role of CEO,” says Babb. “I believe that Curt’s strong leadership, integrity, and commitment to our customers, colleagues, and the communities we serve will further Comerica’s success in the years to come.”
Farmer will continue reporting to Babb, and both Farmer and Babb will continue serving as members of the Comerica Inc. and Comerica Bank boards. In addition, as executive chairman, Babb will continue to chair both boards.