DALLAS, March 13, 2013 /PRNewswire/ -- HispanicBusiness.com ranked Comerica Bank as the top company in its annual index of the Top 25 supplier diversity companies. Comerica ranked first based on its total dollar-spend on diversity suppliers, moving up one position from its No. 2 ranking last year.
"We are honored to be recognized by HispanicBusiness for our commitment to supplier diversity," said Teresa LeFevre, Comerica's vice president and manager of supplier diversity. "We value our relationships with our diverse supplier base. This ranking reaffirms the priority we place on having a supplier base that reflects the communities we serve."
Comerica has received numerous honors locally and nationally for its commitment to diversity -- one of the bank's core values. Comerica was also recognized by Bloomberg Businessweek as one of America's Top 50 community minded companies (No. 27). The "Civic 50" is the first comprehensive ranking of S&P 500 corporations that best use their time, talent and resources to improve the quality of life in the communities where they do business.
LeFevre noted that the success of the bank's supplier diversity program is due in part to the successful relationships formed through the bank's marketing initiatives focused on the African American, Hispanic, Asian American, Middle Eastern and women's markets. Working closely with initiative team leaders such as Monica L. Martinez, Comerica's national Hispanic Business Affairs manager, LeFevre helps ensure that the bank's outreach to its diverse communities includes procurement-related efforts.
"We continually strive to strengthen our relationships with the Hispanic community and to become their bank of choice," explained Martinez. "Having a diverse supplier base is integral to that effort, and we thank HispanicBusiness for acknowledging our successful supplier diversity program."
HispanicBusiness compiles its Top 25 Leaders in Supplier Diversity index using data from the 2012 Diversity Elite survey of the top Fortune 1,000 companies, American subsidiaries of Global 500 companies, and large U.S. public and private companies. The Top 25 Supplier Diversity Companies were selected based on whether they foster supplier-development programs, have full-time executives and/or managers devoted to supplier diversity development, and offer bonus incentives to management directly tied to the company's progress in supplier diversity. Companies also divulge their total purchasing spend and how much of it goes to minority business enterprises (MBEs). The higher the dollar amount a company spends on diversity suppliers the higher its overall ranking will be.
Comerica Incorporated is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $65.4 billion at December 31, 2012. To find Comerica on Facebook, please visit www.facebook.com/ComericaCares. Follow Comerica on Twitter at @ComericaCares and follow Comerica Chief Economist Robert Dye on Twitter at @Comerica_Econ.
SOURCE Comerica Bank