AUSTIN/Sept. 15, 2005 - Tim Klitch has been named as Austin Market President for Comerica Bank - Texas Division. He currently serves as managing director for the Texas region of Comerica's Technology and Life Sciences group, which includes offices in Austin and Dallas. In his new role, Klitch will continue to serve in this function, as well as work with Comerica's Commercial Real Estate, Small Business and Personal Financial Services, Treasury Management, Wealth and Institutional Management, and Small Business Administration groups to coordinate the bank's business growth in Austin.
Klitch, whose finance career spans 20 years, has been with Comerica five years, having joined Imperial Bank in 2000, prior to Comerica's acquisition of the bank. He currently manages a Technology and Life Sciences staff that originates and manages credit and depository relationships with more than 100 technology companies, ranging from early-stage, venture-backed, pre-revenue start-ups to late-stage public companies with borrowing needs in excess of $50 million. The group also handles corporate retirement plans, securities investments and ancillary banking activities for its customers.
Klitch is active with Boy Scout Troop 399, Cub Scout Pack 20, and serves as basketball commissioner for the West Austin Youth Association, treasurer of O. Henry Middle School's Mustang Club, and board member of Austin Wildcats Basketball, a non-profit youth basketball organization.
He holds a bachelor's degree in business administration from Miami University of Ohio.
The Texas Division of Comerica Bank includes 54 branch offices in the key Texas markets of Dallas, Houston and Austin. Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company strategically aligned into the Business Bank, Small Business Banking & Personal Financial Services, and Wealth & Institutional Management. Comerica focuses on relationships, and helping businesses and people be successful. Comerica Incorporated reported total assets of $54.7 billion at June 30, 2005.
For more information, contact:
Sally Crocker
214-969-6400
sbcrocker@comerica.com
