Comerica Bank is a financial services company headquartered in Dallas, Texas with three business segments: The Business Bank, The Retail Band and Wealth Management. 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. Subsidiaries of Comerica include Michigan Market of Comerica Bank, California Market of Comerica Bank, Texas Market of Comerica Bank, Comerica Bank – Canada, Comerica Insurance Services, Inc., Comerica Leasing Corporation, and Comerica Securities, Inc.
Comerica traces its history back to the Detroit Savings Fund Institute founded in 1948 by Elon Farnsworth and also to the Manufacturers National Bank of Detroit, which merged with Comerica Bank in 1992. The bank has gone through a series of mergers and the current Comerica name was established in 1982. Comerica consolidated its bank charters in 2003 and moved its corporate headquarters to Dallas.
The Comerica Hatch Detroit Contest is a neighbourhood retail competition that encourages crowd entrepreneurship. The Comerica Hatch Detroit Contest comes from a partnership between Comerica Bank and Hatch Detroit. Hatch Detroit is an organization that supports existing and new retail initiatives in the Detroit area. Since its beginning in 2012, Comerica has awarded $350,000 in startup funding to winners which each earn $50,000.
Comerica has a Venture Capital Group with a Technology and Life Sciences Division in the San Francisco area managed by John Benetti.