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WATERSTON DEPARTS COMERICA FOR TOP MANAGEMENT POSITION AT KEYCORP; HORONZY TO HEAD RETAIL BANKING

 WATERSTON DEPARTS COMERICA FOR TOP MANAGEMENT POSITION AT KEYCORP;
 HORONZY TO HEAD RETAIL BANKING
 DETROIT, Dec. 19 /PRNewswire/ -- James R. Waterston has resigned as president of Comerica Bank and vice chairman of Comerica Incorporated (NYSE: CMA) to become group executive vice president and chief banking officer and a member of the board of directors at KeyCorp (NYSE: KEY), a $23 billion multi-bank holding company headquartered in Albany, N.Y. In his new position, Waterston will be responsible for all KeyCorp banking subsidiaries' activities.
 Waterston's duties at Comerica Bank have been assumed by Eugene A. Miller, chairman.
 Waterston, 50, joined Comerica in 1968 as a credit analyst. He was elected as vice chairman and a director in 1981. Waterston served in a number of important positions with the bank, including, at different times, as executive-in-charge of its corporate banking and consumer banking divisions. He became president of Comerica Bank in January 1990. A certified public accountant, Waterston earned his master of business administration degree, with distinction, from the University of Michigan in 1964.
 "In his more than 20 years with Comerica, Jim Waterston has distinguished himself by the consistently superb performance of businesses he has headed and by the manner in which he has represented our company in the community," said Miller. "We will miss him and wish him the best in his new endeavors."
 Waterston said, "I had looked forward with enthusiasm to participating in the merger of Comerica and Manufacturers. However, the position with KeyCorp, which I began discussing with them before the Comerica-Manufacturers merger was announced, represents an opportunity that I cannot turn down. I wish Gene Miller and Jerry MacDonald the best in completing the merger of their companies."
 Joseph G. Horonzy has replaced Waterston as the designated officer- in-charge of retail banking for the New Comerica Bank.
 Horonzy currently is executive vice president of Comerica, in charge of corporate banking. He also is a member of Comerica's Management Policy Committee, which oversees all operations. Horonzy joined Comerica in 1968 as a credit analyst. He rose through the ranks as a corporate lender and in 1985 assumed his present duties which include management of all of Comerica's corporate finance, asset-based lending, middle market and corporate banking services and operations located in Michigan and at various loan production offices around the country.
 "Under Joe's leadership," said MacDonald, "the consumer side of the new Comerica will be a significant competitive force in the marketplace."
 -0- 12/19/91
 /CONTACT: David O. Taylor of Comerica, 313-222-3384/
 (CMA KEY) CO: Comerica, Inc.; KeyCorp ST: Michigan, New York IN: FIN SU: PER


DH -- DE012 -- 3972 12/19/91 13:58 EST
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Publication:PR Newswire
Date:Dec 19, 1991
Words:439
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