DALLAS, March 18, 2024 /PRNewswire/ -- Comerica
Incorporated (NYSE: CMA) announced that Larry Franco has been named Executive Vice
President, National Director of Retail Banking & Operations. He
will succeed Rhonda Davenport,
Executive Vice President and National Director of Retail Banking,
who is expected to retire in April
2024, following more than 36 years with Comerica. Franco
will report to Cassandra McKinney,
Executive Vice President, Executive Director of the Retail
Bank.
Franco will oversee the development and leadership of Comerica's
more than 400 banking centers that span across five states and
employ approximately 2,200 employees. Additionally, he will have
oversight for the operational execution and risk management of the
banking centers.
"Larry is a proven leader with a deep appreciation and
understanding for the collaborative efforts that are essential in
delivering a first-class customer experience," said McKinney. "The
retail banking landscape continues to evolve with the changing
needs of our customers and communities, and the addition of Larry's
leadership will be a tremendous asset as we continue to elevate the
retail banking experience for our customers and colleagues that
enable growth.
"Throughout her career, Rhonda has distinguished herself as
someone who can align teams with an organizational vision and lead
with empathy and integrity while delivering on business objectives
always with a focus on the customer. She has been instrumental in
the strength of the retail division and we wish her the best as she
prepares for retirement."
Larry Franco
An
accomplished leader with more than 25 years of retail banking
experience, Franco joins Comerica following his tenure with PNC
Bank in Houston, where he served
as the Southwest Territory Executive, Executive Vice President,
leading a team of 3,200 team members across 501 retail bank
branches. Prior to PNC Bank, he spent 14 years at BBVA, starting as
a District Retail Executive, moving into positions of increasing
scope and responsibility in banking center management, then
culminating in his leadership role over the retail network of 644
branches and more than 4,000 team members as Senior Executive Vice
President, Head of Retail Banking.
Franco remains active in the community, serving as a Board
Member of Junior Achievement of Southeast
Texas. He is also an Executive Advisory Board Member of the
National Basketball Retired Players Association.
He earned his bachelor's degree from the University of Phoenix and completed the Executive
Leadership Program at Harvard Business
School.
Rhonda
Davenport
Davenport has spent more than 36 years with
Comerica, joining the bank in 1987. She has held positions of
increasing score and responsibility in banking center management,
including regional manager in Michigan, new business development in small
business banking, national sales/service management and retail
operations. As the Director of the Comerica Bank Loan Center
(CLC), she oversaw CLC operations for all consumer and small
business loans generated through Comerica's national operations. In
this role, she spearheaded a consumer loan origination redesign
project with redefined roles and responsibility, as well as
implemented extensive training and continuous improvement
initiatives which, among others, significantly reduced loan
processing time resulting in a significant increase in loan
growth. She is a member of the Retail Operation Committee and
contributes valuable insights to organizational effectiveness.
She earned a bachelor's degree in business, as well as an MBA,
from Western Michigan University, and
is a graduate of the Graduate School of Retail Bank Management
administered by the Consumer Bankers Association.
About Comerica
This year, Comerica Bank celebrates 175
years of raising expectations for its customers, colleagues and
communities. Comerica Bank, a subsidiary of 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, one of the 25 largest
commercial U.S. financial holding companies, focuses on building
relationships and helping people and businesses be successful,
providing more than 400 banking centers across the country with
locations in Arizona, California, Florida, Michigan and Texas. Founded on Aug.
17, 1849, in Detroit,
Michigan, Comerica continues to expand into new regions,
including its Southeast Market, based in North Carolina, and Mountain West Market in
Colorado. Comerica has offices in
17 states and services 14 of the 15 largest U.S. metropolitan
areas, as well as Canada and
Mexico. Comerica reported total
assets of $85.8 billion at
Dec. 31, 2023. Learn more about
how Comerica is raising expectations of what a bank can be by
visiting www.comerica.com, and follow us
on Facebook, X (formerly known as
Twitter), Instagram and LinkedIn.
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SOURCE Comerica Incorporated