Comerica Bank Names Dharmesh Patel Executive Vice President, Director, Retail Business Services

Rhea-AI Summary

Comerica Incorporated (NYSE: CMA) appointed Dharmesh Patel as Executive Vice President, Director of Retail Business Services, effective May 3, 2022. Reporting to Cassandra McKinney, Patel will centralize Comerica's service areas, enhancing execution and performance. He has a robust banking background, previously serving as Operational Excellence and Transformation Executive at Truist Bank, and has over 12 years of experience at Ernst & Young. Comerica, headquartered in Dallas, reported total assets of $89.2 billion as of March 31, 2022, and is focused on customer relationships across multiple states.

Positive

• Appointment of Dharmesh Patel as Executive Vice President is expected to enhance service centralization and performance.
• Patel's extensive experience in banking and transformation strategies may lead to improved operational efficiency.

Negative

• None.

DALLAS, May 3, 2022 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) announced that Dharmesh Patel has been named Executive Vice President, Director, Retail Business Services. He will report to Cassandra McKinney, Executive Vice President, Executive Director, Retail Bank.

Patel is a veteran of the banking industry with a successful track record of delivering enterprise-level priorities by leading cross-functional teams from concept to execution. In his role, he will focus on centralizing the services areas of Comerica's business to ensure oversight of execution, growth and performance to enable a single point of contact for the business areas.

Most recently, he served as the Operational Excellence and Transformation Executive for Truist Bank and was responsible for the merger and integration across supporting Truist Business and Operations teams. Prior to joining Truist (formerly SunTrust Bank) in 2013, he spent more than 12 years with Ernst & Young in its management consulting practice supporting global institutions.

"Adding a member to our Retail Bank team with the talent and knowledge of Dharmesh serves to better support our customers and our colleagues," said McKinney. "His experience transforming strategies and operations will play a pivotal role as we continue to address the demands of our business and the evolving retail banking landscape."

Patel earned his bachelor's and master's degrees from the University of London and has also studied at Harvard University and the London School of Economics.

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 $89.2 billion as of March 31, 2022.

View original content to download multimedia:https://www.prnewswire.com/news-releases/comerica-bank-names-dharmesh-patel-executive-vice-president-director-retail-business-services-301538628.html

SOURCE Comerica Incorporated

FAQ

Who is Dharmesh Patel and what role has he taken at Comerica (CMA)?

Dharmesh Patel has been appointed as Executive Vice President, Director of Retail Business Services at Comerica.

What is the significance of Dharmesh Patel's appointment for Comerica (CMA)?

His appointment is expected to enhance service centralization and improve performance within Comerica's retail banking segment.

What are Comerica's total assets as of March 31, 2022?

Comerica reported total assets of $89.2 billion as of March 31, 2022.