Comerica Bank Names Bob Buchanan Senior Vice President, National Practice Leader - Business Transition Planning

Rhea-AI Summary

Comerica Bank has appointed Bob Buchanan as Senior Vice President and National Practice Leader for Business Transition Planning, effective July 12, 2021. Reporting to Lisa Featherngill, Buchanan aims to enhance planning programs for business owners in collaboration with the Commercial and Retail Banks. With over 20 years of experience, including leadership roles at Wells Fargo and PCE Valuations, he specializes in business valuation and transition planning. Comerica, a subsidiary of Comerica Incorporated (NYSE: CMA), reported total assets of $88.4 billion as of June 30, 2021.

Positive

• Appointment of Bob Buchanan enhances Comerica's leadership in business transition planning.
• Buchanan brings over 20 years of experience in financial services.
• Strategic collaboration planned with Commercial and Retail Banks to support business-owner clients.

Negative

• None.

DALLAS, July 26, 2021 /PRNewswire/ -- Comerica Bank announced that Bob Buchanan has been named Senior Vice President and National Practice Leader – Business Transition Planning. Buchanan joined Comerica on July 12, 2021, and reports to Lisa Featherngill, National Director of Wealth Planning.

Consistent with Wealth Management's commitment to being a leader in advice to business owners, Buchanan will develop and implement planning programs for business owners and will partner with colleagues in the Commercial Bank and Retail Bank to assist their business-owner clients.

"We are pleased to have Bob join our team and know that he will be an incredibly strong partner to our clients," said Featherngill. "Bob has extensive experience in advising high net worth clients and business owners on business valuation, transaction structure and financing, transition planning, and many other issues facing business owners today."  

A veteran of the financial services industry with more than 20 years of experience, Buchanan joins Comerica Wealth Management after serving as the Managing Director and National Practice Leader for Business Transition Planning team at Wells Fargo since 2019, and as Senior Vice President and Business Transition Strategist from 2017 to 2019. There he worked with business-owner clients to help develop custom transition plans and implement solutions based on and incorporating a detailed understanding of their personal values, asset growth and wealth transfer goals, and vision for their legacy.

Prior to his arrival at Wells Fargo, Buchanan was the managing partner of PCE Valuations, LLC, for more than 15 years, and was a shareholder of PCE Holdings, parent company of PCE Investment Bankers Inc., PCE Advisory, LLC, and other related companies.

Buchanan earned a Bachelor of Science in Finance from the University of Central Florida and a Juris Doctorate from the Washington and Lee University School of Law in Lexington, Virginia. He holds the Certified Financial Planner and Accredited Senior Appraiser designation.

Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), 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 $88.4 billion as of June 30, 2021.

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SOURCE Comerica Incorporated

FAQ

What is the role of Bob Buchanan at Comerica Bank?

Bob Buchanan has been appointed as Senior Vice President and National Practice Leader for Business Transition Planning.

When did Bob Buchanan join Comerica Bank?

Bob Buchanan joined Comerica Bank on July 12, 2021.

What are the key responsibilities of Buchanan at Comerica?

Buchanan is responsible for developing planning programs for business owners and collaborating with colleagues to assist clients.

What is the significance of Comerica's total assets of $88.4 billion?

The total assets of $88.4 billion, reported as of June 30, 2021, reflect Comerica's financial strength and stability.

Under which segment of Comerica does Bob Buchanan work?

Buchanan works under the Wealth Management segment of Comerica Bank.