Comerica Bank Names Joe Ursuy Executive Vice President, National Businesses for Energy, Renewables, and Waste

Rhea-AI Summary

Comerica Incorporated (NYSE: CMA) has appointed Joe Ursuy as Executive Vice President for National Businesses focused on Energy, Renewables, and Waste. Reporting to Mike Ritchie, he will handle large relationships in recycling, renewable energy, and waste sectors. The Environmental Services Department, which Ursuy founded, has seen a 42% increase in green loans, totaling $2 billion as of June 30, 2022. Ursuy, a veteran with 24 years in financial services, holds degrees in economics and an MBA, emphasizing Comerica's commitment to sustainability and industry leadership.

Positive

• Appointment of Joe Ursuy enhances leadership in Energy and Renewables sector.
• Comerica's green loans and commitments increased by 42% to $2 billion as of June 30, 2022.
• Ursuy's background in environmental services strengthens Comerica's market position.

Negative

• None.

DALLAS, Aug. 22, 2022 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) announced that Joe Ursuy has been named to the new role of Executive Vice President, National Businesses for Energy, Renewables, and Waste. He will report to Mike Ritchie, Executive Vice President, Head of National and Specialty Businesses.

Ursuy most recently served as Senior Vice President, Director of Environmental Services, leading the Environmental Services Department (ESD) that he was instrumental in establishing among Comerica's Commercial Bank divisions and industry services. In addition to continue managing Comerica's sizeable relationships in the recycling, renewable energy, and waste industries, Ursuy will also oversee the Bank's existing oil and natural gas production and midstream line of business.

"Joe's expertise assisting renewable energy, recycling and refuse companies has been instrumental in allowing us to deepen our relationships in many sectors within those industries across all our markets," said Ritchie. "These businesses and the environments in which they operate are continuing to evolve, and Joe's leadership and extensive knowledge bolster our customers' ability to navigate through their challenges while helping them grow and succeed."

Over the past 16 years, Comerica's ESD has continued to develop its portfolio and industries it serves.

Earlier this year, Comerica expanded the Environmental Services Department with the introduction of the Renewable Energy Solutions Group, which is dedicated to growing and supporting Comerica's renewable energy business. The group's continued expansion into renewables and growth in green business comprise part of Comerica's commitment to sustainability, while helping communities protect and preserve the environment. As of June 30, 2022, Comerica had $2 billion in green loans and commitments, marking a 42% increase since June 30, 2021 and up over 9% from March 31, 2022. Additionally, Comerica was named to the Newsweek's 2022 list of America's Most Responsible Companies, marking its third consecutive year on the list.

A 24-year veteran in the financial services industry, Ursuy has been with Comerica since 1998. Prior to founding the Environmental Services Group in 2006, he has held a variety of positions in Comerica's Middle Market Banking Team.

Ursuy is a board member for the Environmental Research and Education Foundation based in Raleigh, N.C., and he is a frequent guest speaker at industry events.

Other industry associations Ursuy cultivates Comerica's relationship with include the National Waste & Recycling Association, The Coalition for Renewable Natural Gas, and Detachable Container Association. He also leads Comerica's partnership with Waste Expo and hosts the annual Waste 360 Business Leadership Forum designed to assist companies seeking business and financial strategies that go beyond daily operations.

Ursuy is an avid supporter of giving back to the community, and he and his team regularly volunteer at several Detroit area charities. He obtained his Bachelor of Business Administration degree in economics from Northwood University and an MBA from the University of Detroit Mercy. Ursuy also completed training at the Center for Creative Leadership in Colorado Springs, Colo.

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

What is Joe Ursuy's new role at Comerica (CMA)?

Joe Ursuy has been appointed as Executive Vice President for National Businesses in Energy, Renewables, and Waste.

How much has Comerica's green loans increased as of June 30, 2022?

Comerica's green loans and commitments have increased by 42% to $2 billion.

Who does Joe Ursuy report to at Comerica?

Joe Ursuy reports to Mike Ritchie, Executive Vice President, Head of National and Specialty Businesses.

When was the press release about Joe Ursuy's appointment issued?

The press release was issued on August 22, 2022.

What financial services does Comerica (CMA) provide?

Comerica provides financial services focused on commercial banking, retail banking, and wealth management.