Comerica Incorporated (NYSE: CMA), a prominent name in Comerica Banking, has announced the strategic promotion of three executive leaders to newly created positions, effective January 27, 2023. This move underscores Comerica’s commitment to reinforcing its leadership and strategic direction within the competitive banking landscape. The promoted executives are Peter Sefzik, Megan Crespi, and Megan Burkhart, each taking on expanded roles as Senior Executive Vice Presidents.
Curt Farmer, Chairman and CEO of Comerica, emphasized the significance of these appointments, stating, “Each of these individuals brings unique expertise, proven results and demonstrated leadership to their roles. I am so pleased to work alongside a team of this caliber who shares my commitment to Comerica and our customers, colleagues, and the communities we serve.” These promotions signal a strategic alignment to further enhance Comerica banking services and customer relationships.
Peter Sefzik: Leading Comerica Banking as Chief Banking Officer
Peter Sefzik, formerly Executive Vice President, Executive Director, Commercial Bank, is now appointed Senior Executive Vice President, Chief Banking Officer. In this elevated role, Sefzik will be at the helm of all revenue-generating teams across Comerica banking, including Commercial Bank, Retail Bank, and Wealth Management. His responsibilities also extend to Marketing and Customer Experience, highlighting Comerica’s focus on a holistic approach to customer engagement.
Sefzik’s career trajectory within Comerica banking is noteworthy. Before this promotion, he successfully led the Commercial Bank segment since 2018, overseeing various business lines and Treasury Management & Capital Markets. His prior experience as Texas Market President, managing commercial, wealth, and retail operations in key markets, and earlier roles in Wealth Management and Energy Lending, provide him with a comprehensive understanding of Comerica banking operations. His educational background, including degrees from Baylor University and a juris doctorate from Southern Methodist University, further solidifies his expertise in the financial and legal aspects of banking.
Megan Crespi: Driving Operational Excellence as Chief Operating Officer
Megan Crespi’s promotion to Senior Executive Vice President, Chief Operating Officer, from her previous role as EVP, Chief Enterprise Technology and Operations Services Officer, highlights Comerica banking‘s focus on operational efficiency and technological advancement. Crespi will now oversee critical functions including Technology, Enterprise Security, Lending and Trade Services, Corporate Real Estate, Customer Contact Center, Data and Analytics, and a newly formed Digital function. This Digital function is particularly significant as it underscores Comerica’s commitment to digital transformation in the banking sector.
Crespi joined Comerica banking in March 2020 and has been instrumental in managing technology, cybersecurity, and operational units. Her prior experience as Chief Technology Officer for Ally Bank and various technology leadership roles at General Motors and PwC brings a wealth of expertise in technology strategy, infrastructure, and digital innovation to Comerica banking. Her academic credentials from the University of Michigan and Carnegie Mellon University further reinforce her capabilities in leading complex operational and technological transformations within Comerica banking.
Megan Crespi named Comerica's Chief Operating Officer, driving operational excellence for Comerica Banking and digital transformation. Megan Burkhart: Leading Human Resources and Corporate Responsibility
Megan Burkhart’s advancement to Senior Executive Vice President, Chief Administrative Officer, from EVP, Chief Human Resources Officer, reflects Comerica banking‘s increasing emphasis on integrating Human Resources with Corporate Responsibility, including Environmental, Social, and Governance (ESG) initiatives. Burkhart will oversee Human Resources, the Business Program Management Office, and Corporate Responsibility, demonstrating the interconnectedness of these functions in shaping Comerica banking’s future direction.
Burkhart has a long-standing career with Comerica banking, having served as Chief Human Resources Officer since 2010 and joining the company in 1997. Her extensive experience in HR-related positions, including Diversity & Inclusion, Talent Management, and Organizational Change Management, positions her perfectly to drive Comerica’s ESG and corporate responsibility agenda. Her board membership at Xcel Energy and involvement in their Audit Committee and Governance, Compensation and Nominating Committee further showcase her leadership and governance expertise, valuable assets for Comerica banking.
Megan Burkhart becomes Comerica's Chief Administrative Officer, overseeing HR and Corporate Responsibility within Comerica Banking. Continued Senior Leadership
In addition to these key promotions, Comerica announced that other executive leaders will also assume the title of Senior EVP while maintaining their current responsibilities. These include Melinda Chausse as Senior EVP, Chief Credit Officer; Jim Herzog as Senior EVP, Chief Financial Officer; and Jay Oberg as Senior EVP, Chief Risk Officer. These title updates across the senior leadership team further solidify the experienced and stable management structure within Comerica banking.
About Comerica Banking
Comerica Bank, a subsidiary of Comerica Incorporated (NYSE: CMA), is a financial services company headquartered in Dallas, Texas. Comerica banking operates strategically across three key business segments: The Commercial Bank, The Retail Bank, and Wealth Management, emphasizing relationship-based banking to foster the success of individuals and businesses. With a strong presence in Texas, Arizona, California, Florida, and Michigan, and selective operations in other states, Canada, and Mexico, Comerica reported total assets of $85.4 billion as of December 31, 2022, demonstrating its significant position in the banking industry.
Comerica Banking Logo. Comerica Incorporated is a leading financial services company.
Conclusion
The promotion of Peter Sefzik, Megan Crespi, and Megan Burkhart to Senior Executive Vice President roles marks a pivotal moment for Comerica banking. These strategic appointments not only recognize the exceptional contributions of these leaders but also strategically position Comerica for continued growth and innovation in the evolving financial landscape. By strengthening its leadership team, Comerica banking reaffirms its commitment to delivering superior services, fostering strong customer relationships, and driving long-term success in the banking sector.
