Curtis C. Farmer, president of Dallas-based Comerica Inc. and Comerica Bank, has been named chief executive officer of those companies. Ralph W. Babb Jr. has been named executive chairman of Comerica Inc. and Comerica Bank. Farmer will continue reporting to Babb, and both Farmer and Babb will continue serving as members of the Comerica Inc. and Comerica Bank board of directors. In addition, as executive chairman, Babb will continue to chair both boards.
As CEO, Farmer will be responsible for all lines of business and credit, as well as Comerica’s support and operations teams, including finance, human resources, risk, technology, legal and marketing. The audit department will continue to report directly to the audit committee of the Comerica Inc. board.
Farmer joined Comerica Bank as executive vice president of wealth management in 2008. Prior to that, he served for 23 years at Wachovia Bank.
He was named vice chairman of Comerica’s retail bank and wealth management divisions in 2011, and was named president of Comerica Inc. and Comerica Bank in 2015, adding the business bank to his areas of responsibility. In 2018, Farmer’s responsibilities expanded to include technology and operations. He was named to Comerica Inc.’s board in 2018. In 2019, he began overseeing credit.
Farmer holds a bachelor’s degree from Wake Forest University, where he also earned his master’s degree in business administration. Active in the community, Farmer’s board affiliations include Wake Forest University, Wake Forest Baptist Medical Center and the Circle 10 Council of the Boy Scouts of America, where he currently serves as president.
In addition to Texas, Comerica Bank operates in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.
Published in Bankers Digest May 6, 2019