DALLAS/April 9, 2002 -- Hispanic business leaders from around Dallas are coming together to advise Comerica Bank-Texas in developing strategies to partner with local Hispanic-owned businesses. Comerica's newly formed Hispanic Business Advisory Board was created to help Texas' "business bank of choice" better serve a long under-served segment of the business population.
"Hispanic-owned businesses are integral to the Metroplex economy and the growth of Comerica Bank-Texas," said Chuck Gummer, president and chief executive officer of Comerica Bank-Texas. "We believe this advisory board will help us better serve and partner with Hispanic business owners and managers to provide them with a competitive advantage."
Research commissioned by Comerica Bank-Texas emphasized the need for a tailored approach to earning Hispanic business.
For example: Hispanic business owners view the business climate for Hispanic-owned businesses as strong and growing, but stifled by the lack of access to capital. Also, Hispanic business owners suggest that few financial institutions illustrate an understanding and desire to attract Hispanic businesses as clients.
Another key finding was that the two most important factors that influence Hispanic business owners in their choice for a business banking partner are the institutions' understanding of their business and the loan officers' ability to develop a true relationship with the business owner.
"Traditionally, the business practices of financial institutions have not addressed the needs of Hispanic-owned businesses," said Ruben Esquivel, chairman of Comerica 's Hispanic Business Advisory Board, who also serves on the Comerica Bank-Texas board of directors. "Comerica 's approach to partnering with Hispanic business owners by learning about and tailoring an approach to earning their financial business separates Comerica from other banks vying for a share of this important banking market."
The advisory board is made up of many of Dallas' most prominent business and civic leaders, who also are known across the state. In addition to Esquivel, the advisory board is comprised of the following business and civic leaders:
Rafael Anchia
Attorney
Patton Boggs, LLP
Garry D. Castro
Owner, GDS Logistics
Chairman, Greater Dallas Hispanic Chamber of Commerce
Louis J. Guerra
Treasurer
Rudy's Food Products Inc.
C.D. Heinen
Senior Vice President
Small Business Banking
Comerica Bank-Texas
Becky Munoz-Diaz
General Manager
KUVN & KSTR television stations
Raymond T. Quintanilla
General Manager
Quintanilla Furniture Company
Edward T. Rincon, Ph.D.
President
Rincon & Associates
The Hispanic Business Advisory Board began regular meetings in February. In the coming year, this board, along with Comerica Bank-Texas, will identify and seek out solutions to financial issues facing Hispanic-owned businesses.
Comerica Bank is the lead subsidiary of Comerica Incorporated (NYSE: CMA), a multi-state financial services provider headquartered in Detroit, with banking subsidiaries in Michigan, California, and Texas, banking operations in Florida, and business in several other states. Comerica has an investment services affiliate, Munder Capital Management, and operates banking subsidiaries in Canada and Mexico.
Media Contacts:
Glen Orr, or Terry Balluck,
both of Edelman Public Relations,
(214) 520-3555,
for Comerica Bank-Texas;
or Sally Crocker,
(214) 969-6400,
or Vickie Cook,
(214) 969-6507,
both of Comerica Bank-Texas
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