COMERICA TO CONSOLIDATE SERVICE COMPANY FUNCTIONS AT LIVONIA 'SUPER CENTER'
COMERICA TO CONSOLIDATE SERVICE COMPANY FUNCTIONS AT LIVONIA 'SUPER CENTER' DETROIT, June 4 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) today announced plans to consolidate service company functions at what is currently the Manufacturers Operations Center in Livonia, Mich. The consolidation of service functions, such as check and deposit- account processing, will create an operations "super center" for the new Comerica. The announcement was made today by Robert L. Condon, executive vice president, who will head the service company for the new Comerica. Comerica and Manufacturers National Corporation will merge on June 18, 1992, to create Michigan's second-largest bank holding company. "The super center in Livonia will provide centralized operations and allow the combined banks to better serve the check and transaction processing needs of corporate and consumer accounts," Condon said. He also said the center will continue to provide corporate cash management support. On an average day, nearly 2 million checks will be processed at the operations center in Livonia. The consolidation of the service organization will include the transfer of approximately 400 operations and other personnel from Comerica's Auburn Hills processing facility to Livonia in the third or fourth quarter of 1992. The Auburn Hills Operations Center will retain Comerica's information systems and other departments, including real estate management and development, national businesses, consumer lending, retail customer services and customer relationship management. The consolidation also will require the closing of Comerica's operations center in Jackson, Mich., in the first quarter of 1993. The center employs approximately 110 persons, who will have the opportunity to transfer to Livonia or other Comerica locations. Comerica's branches and other offices in the Jackson area will not be affected by the transfer. -0- 6/4/92 /CONTACT: David O. Taylor of Comerica, 313-222-3384/ (CMA) CO: Comerica Incorporated ST: Michigan IN: FIN SU:
JG -- DE028 -- 7164 06/04/92 16:00 EDT
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|Date:||Jun 4, 1992|
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