DALLAS, Oct. 9 /PRNewswire-FirstCall/ -- Comerica Bank today announced that it has received top grades in a survey of middle market cash management services. The biennial survey of senior financial executives of public and private U.S. corporations with annual sales between $40 million and $100 million was conducted by Phoenix-Hecht, one of the nation's foremost providers of market research and education for the financial services industry. The announcement of the survey results was made by Daniel J. McCarty, senior vice president and director of Treasury Management Services for Comerica.
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Comerica earned 16 A+ grades and six A grades in the Phoenix-Hecht 2007 Middle Market Monitor Quality Index, including 10 A+ grades and two A grades in the product categories, with strongest scores in wire transfer, balance reporting, ACH and depository services. In the category of perceptions, Comerica Bank earned two A+ scores and two A scores. In the category of cash management relationship manager, Comerica earned 4 A+ scores and two A scores. By comparison, Comerica's competitors scored fewer A+ scores overall.
"The survey underscores what we have known all along and that is, Comerica's treasury management services are among the best and strongest in the industry," said McCarty. "Our focus is on listening to our customers' needs and providing workable and affordable solutions for them."
The Phoenix-Hecht 2007 Middle Market Monitor Quality Index has five rating categories, with A+ being the highest and D the lowest. The assignment of grades is based not only on how well a bank does relative to its peers in a category, but also on how a category scores overall in the survey. The Quality Index covers 38 quality rating questions: 23 related to products, six related to corporations' perceptions about their banks, and nine about their cash management officer.
Among the key findings of the survey is that when a bank has a relationship with a company, it tends to have a higher probability of selling additional services.
"Today's treasury management is not just about transactions, but about helping our customers manage unprecedented challenges and opportunities," McCarty added. "As a relationship-oriented bank, we have been highly successful in bringing solutions to our customers that help them be successful in the marketplace. That is the Comerica difference."
Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping businesses and people to be successful. Comerica Bank locations can be found in Michigan, California, Texas, Florida and Arizona, with select businesses operating in several other states, and Canada and Mexico. Comerica reported total assets of $58.6 billion at June 30, 2007. To receive e-mail alerts of breaking Comerica news, go to http://www.comerica.com/newsalerts.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGOSOURCE: Comerica Bank
CONTACT: Wayne Mielke (Texas), +1-214-969-6548, or Barry Holtzclaw
(California and Arizona), +1-408-556-5111, or Sara Snyder (Michigan and
Florida), +1-313-222-9617, all of Comerica Bank
Web site: http://www.comerica.com/
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