The central location of Texas was a key factor in last year’s relocation of Comerica Bank and Comerica Inc. to Dallas, Ralph W. Babb, Jr., chairman and CEO, told Young Professionals and Leadership Dallas Alumni last month.
Speaking at a Chamber leadership breakfast March 12, Babb discussed Comerica’s relocation strategy, which also included California as an option. Asked if there were any surprises in moving to Dallas, Babb responded, “Yes, the friendliness – and not just the people you expect to be friendly, but store clerks and teachers.”
Comerica’s March ’07 announcement that it would move its headquarters from Detroit to Dallas brought the city its first major bank headquarters in years.
Babb also discussed Comerica’s investments in Dallas and its commitment to Detroit. Comerica was the title sponsor of the annual New Year’s Day Parade, the Greater Dallas Chamber’s annual meeting, and the presenting sponsor of the Dallas Summer Musicals. The company now occupies the former Bank One Center in downtown Dallas, renamed Comerica Bank Tower.
With more than 7000 employees still in Detroit, Babb stated that Comerica “has not turned our back on Detroit” and there are no plans to move those jobs to Dallas. He said Comerica is looking at opening local branches to create more jobs in the region. Asked about the Southern sector of Dallas, Babb stated that the bank is looking at all areas for possible growth.
The breakfast was part of the Chamber’s leadership development program that includes Leadership Dallas, Young Professionals and Experience Greater Dallas. For more information, contact Julie Tanner at 214.746.6741 or firstname.lastname@example.org.