Comerica Bank Appoints Allysun Fleming To Lead Payments Strategy In New Head of Payments Role

Rhea-AI Summary

Comerica (NYSE: CMA) has appointed Allysun Fleming as the new Executive Vice President of Payments, consolidating all payments-related operations under her leadership. Reporting to Peter Sefzik, Fleming's role aims to enhance digital payment services and meet customer demands across various business lines. With over 18 years in financial services, she brings extensive experience from Wells Fargo and HSBC. This strategic alignment reflects Comerica's commitment to optimizing its offerings, driven by investments in payment solutions and a vision to deepen customer value.

Positive

• Appointment of Allysun Fleming is expected to enhance leadership in payments strategy.
• Fleming's extensive experience in Treasury Management and digital transformation will likely drive growth.
• Investment in payment services shows Comerica's commitment to meet evolving customer needs.

Negative

• Potential risks associated with leadership transition may affect continuity in payments strategy.

DALLAS, Aug. 1, 2022 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) announced it will align all payments-related operations into one division directed by Allysun Fleming who will serve as the new Executive Vice President, Payments. Fleming will report to Peter Sefzik, Executive Vice President, Commercial Bank.

"Our vision is to grow and optimize Comerica in ways that deepen the value we provide our commercial, wealth and retail customers," said Sefzik. "With the addition of Allysun's leadership and expertise, along with the investments we continue to make in our payments business, it allows us to improve how we serve our customers and provide future growth opportunities."

Enhancing the digital capabilities of its existing payment services and embracing agility in the growth and support of alternative payment options to meet the needs of its customers across all business lines has remained a priority for Comerica. It was an early entrant with Zelle for real time payment transfers. And last year, it introduced real-time payments to its Treasury Management services, and more recently it launched efforts to transform the onboarding experience for customers looking to expand or begin using Treasury Management services.

Fleming will help drive continued change in the space, as she provides strategic direction, financial management and leadership for all aspects of the Treasury Management and Payments businesses.

Fleming's career has included more than 18 years in the financial services industry, with experience across various segments including Treasury Management, digital customer experience and commercial, consumer and small business banking. She joins Comerica from Wells Fargo in Charlotte, North Carolina, where she most recently delivered customer improvements as Head of Customer Transformation for Commercial Banking. Fleming continued to progress during her 12 years with the organization, serving in a variety of roles with increasing responsibility across Treasury Management, including managing Treasury Management Client Delivery, which was compromised of Implementation, Commercial account opening, and Enrollment and Automation tools teams; driving digital transformation and product simplification initiatives; and global product management experience. Coupled with her Treasury Management knowledge, Fleming garnered consumer and small business banking experience through Business Deposit product management and finance roles for Wells' Consumer Bank.

Prior to Wells, Fleming held a variety of international assignments at HSBC, including Commercial Banking Relationship Management; Strategy and Business Development for M&S Money; digital product management for Internet and Self-Service Banking; and Human Resources.

Fleming earned a bachelor's degree in economics and political science from the State University of New York at Buffalo.

Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $86.9 billion as of June 30, 2022.

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SOURCE Comerica Incorporated

FAQ

Who is Allysun Fleming and what is her role at Comerica?

Allysun Fleming is the new Executive Vice President of Payments at Comerica, responsible for leading the consolidated payments-related operations.

What does Comerica's new payments strategy involve?

The strategy focuses on enhancing digital payment capabilities and improving customer experience across various business lines.

What is the significance of Allysun Fleming's appointment on August 1, 2022?

Her appointment is aimed at optimizing Comerica's payments business and leveraging her expertise to foster growth.

How does Comerica plan to improve its payment services under Fleming's leadership?

Comerica plans to enhance digital capabilities and support alternative payment options, continuing to invest in its payments business.

What background does Allysun Fleming have in financial services?

Fleming has over 18 years of experience in financial services, previously holding roles at Wells Fargo and HSBC focusing on Treasury Management and customer experience.