Comerica Bank Boosts Small Business Efforts with New Regional Leadership Positions

The new regional directors are responsible for the overall leadership and success of all small business banking activities within their markets and will oversee a team of small business group managers and small business relationship managers in the execution of Dallas-based Comerica's small business strategy.

Dallas-based Comerica Bank is bolstering its Small Business Banking segment with the appointment of three regional directors and announced the debut of several digital solutions throughout the year, focusing on payments and access to convenient capital.

The new regional directors are Brent Harraman of Sugar Land, Sandra Felegy of Los Angeles, and Meghan Storey of Detroit, who are responsible for the overall leadership and success of all small business banking activities within their markets and will oversee a team of small business group managers and small business relationship managers in the execution of Comerica’s small business strategy.

“Comerica has made significant investments in our Small Business segment over the last year,” Omar Salah, Comerica Bank EVP, Director of Small Business Banking, said in a statement. “Our commitment to expanding our Small Business Banking division is reinforced through these new leadership roles and elevated digital features to help small business owners gain access to capital as they look to grow their business.”

Comerica said its hiring initiative is focused on placing small business bankers across its national footprint, ensuring small business experts are in close proximity to 80% of its banking center network.

Small business banking experts

The new Small Business Regional Directors are leading efforts to grow market share in collaboration with their counterparts in Retail Banking, Commercial Banking and Private Wealth.

Led by Salah, Comerica’s three Small Business Regional Directors are aligned with the bank’s major markets in Texas, California, and Michigan.

Harraman, SVP Texas Director of Small Business, is a 12-year Comerica veteran and previously served as SVP, group manager, Small Business Banking Specialists. He joined Comerica with more than 25 years of experience at various financial institutions such as Sterling Bank, First Bank, Southwest Bank of Texas, and Bank of America. Harraman also will be responsible for Comerica’s Arizona and Florida markets.

Sandra Felegy, SVP California Director of Small Business

Felegy, SVP California Director of Small Business, comes to Comerica with more than 20 years of proven experience in the banking industry. Most recently, she spent 13 years at MUFG Union Bank building the small business relationship manager channel and virtual sales model.

Storey, SVP Michigan Director of Small Business, has more than 20 years of small business and business banking experience in the Michigan market.

Meghan Storey, SVP Michigan Director of Small Business

She held senior roles at Fifth Third Bank and Citizens Bank, serving as a business banking market manager, business banking regional sales manager and senior relationship manager.

Digital tools for entrepreneurs

Also, Comerica said it is introducing new digital tools for entrepreneurs that emphasize increased access to capital.

In the second quarter, Comerica said it will launch a new digital small business lending platform nationally that accelerates access to capital to small business owners with needs up to $100,000, providing faster approvals and funding.

Comerica said it also has new small business digital payment tools in its pipeline, including Zelle for Small Business and a treasury product bundle designed to efficiently address small business needs in managing cash flow.

“Comerica has the leadership and technological capabilities to not just support small businesses but to make an impact on them nationwide,” Salah said. “With all of our recent advancements in this segment, we are entering our next evolution in Small Business Banking.”

Comerica’s Small Business Banking national expansion comes on the heels of it launching an innovative small business support program in North Texas – Comerica SmallBizCo-OpTM. That concept supports the bank’s small business customers by providing them with a set of elevated experiences and unique benefits at no cost.

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