Lou Desiderio of Princeton Softech Receives CFO of the Year Nomination
PRINCETON, NJ/May 6, 2003 - Comerica (NYSE: CMA), a leading financial services company, announced today that Kathleen Coviello, first vice president in its Technology and Life Sciences Division, is one of three finalists for the New Jersey Technology Council's Financier of the Year Award. The winner will be announced at an Awards Breakfast on June 13.
The Financier of the Year Award is presented to a venture capitalist, investment merchant or commercial banker who has contributed to the economic development of New Jersey's technology community. Judging criteria include attracting new capital into the state, investing in or loaning capital to local technology companies, and providing community education/leadership.
Coviello has more than 15 years of banking experience. Since 1997, when she began her tenure at TechBanc, a division of Progress Bank acquired by Comerica in early 2002, Coviello has focused her efforts on lending to New Jersey's emerging growth technology companies. She is a member of the NJTC's Board of Directors, she has spoken at the New Jersey Capital Conference and the New Jersey Entrepreneurs Forum, and she has served as a judge at the New Jersey Venture Fair. In 2001, Coviello was also a finalist for the Financier of the Year Award.
"I am honored to be recognized as one of the committed members of New Jersey's investment community," she said. "Our state is home to a diversified group of technology companies that are thriving even today, and one reason for that is the support they receive from entities like Comerica's Technology and Life Sciences Division."
Three other awards will be presented at the June 13 event, including CFO of the Year. One of the finalists for that award is Lou Desiderio, CFO of Princeton Softech, a Comerica customer. Coviello was one of three NJTC members who nominated Desiderio, citing his role in establishing Princeton Softech as a spin-off from Computer Horizon Corporation by arranging for $21 million in financing as well as a $4.3 million Comerica credit facility.
About Comerica's Technology and Life Sciences Division
Comerica's Technology and Life Sciences Division is one of the nation's leading technology banking practices, offering a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. Veteran bankers provide credit and financial services and products to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts. From 18 offices located across the U.S., Comerica's Technology and Life Sciences Division serves all major technology centers. Comerica is among the 20 largest banking companies in the nation, with nearly $56 billion in assets as of March 31, 2003.
Media Contacts:
Adrienne Moch
Pacifico
(408) 293-8600 x319
amoch@pacifico.com
or
Keith Turner
Comerica Bank
(408) 556-5111
keith_turner@comerica.com
