DALLAS, Jan. 12, 2017 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) today announced that Peter A. Sorrentino, CFA, has joined Comerica Asset Management Group, the investment management division of Comerica, as senior vice president and chief investment officer. Sorrentino reports to Michael W. Malone, President and Chief Executive Officer of Comerica Securities, Comerica Asset Management and World Asset Management.
In addition to developing investment strategies for Comerica's high net worth and institutional clients, Sorrentino will be responsible for the firm's passive and active investment strategies, alternative investments, operations and administration and new products. Sorrentino will also serve as Chairman of the Comerica Investment Policy Committee, the governing body responsible for establishing the company's asset allocation policies, as well as Comerica Asset Management's primary spokesperson in national media on investment philosophy, asset allocation, market sector analysis and other market matters. He will be based in Dallas, Texas, in Comerica Bank's headquarters at Comerica Bank Tower.
Sorrentino, 57, joins Comerica from Huntington Asset Advisors, where he served as senior vice president and senior portfolio manager, and the lead portfolio manager for the Huntington Real Strategies Fund, Huntington VA Real Strategies Fund and the Huntington Disciplined Equity Fund. Other responsibilities at Huntington included managing individual customer portfolios, option strategies and alternative investments. Over his 36 years of service in the investment arena, he has held positions with Bank One Ohio Trust Company, Star Bank and Bartlett & Co. LLC, the latter for which he served as chief investment officer.
Sorrentino was awarded his Chartered Financial Analyst designation in 1993, and earned his Bachelor's degrees in Finance and Accounting from University of Cincinnati College of Business. He succeeds Dennis A. Johnson, CFA, who left the bank in 3Q2016 to pursue other opportunities.
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 $74 billion at September 30, 2016.
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SOURCE Comerica Bank