Comerica Incorporated (NYSE: CMA) announced that Larry Franco has been named Executive Vice President, National Director of Retail Banking & Operations. He will succeed Rhonda Davenport, Executive Vice President and National Director of Retail Banking, who is expected to retire in April 2024, following more than 36 years with Comerica. Franco will report to Cassandra McKinney, Executive Vice President, Executive Director of the Retail Bank.
Franco will oversee the development and leadership of Comerica’s more than 400 banking centers that span across five states and employ approximately 2,200 employees. Additionally, he will have oversight for the operational execution and risk management of the banking centers.
“Larry is a proven leader with a deep appreciation and understanding for the collaborative efforts that are essential in delivering a first-class customer experience,” said McKinney. “The retail banking landscape continues to evolve with the changing needs of our customers and communities, and the addition of Larry’s leadership will be a tremendous asset as we continue to elevate the retail banking experience for our customers and colleagues that enable growth.
“Throughout her career, Rhonda has distinguished herself as someone who can align teams with an organizational vision and lead with empathy and integrity while delivering on business objectives always with a focus on the customer. She has been instrumental in the strength of the retail division and we wish her the best as she prepares for retirement.”
Larry Franco
An accomplished leader with more than 25 years of retail banking experience, Franco joins Comerica following his tenure with PNC Bank in Houston, where he served as the Southwest Territory Executive, Executive Vice President, leading a team of 3,200 team members across 501 retail bank branches. Prior to PNC Bank, he spent 14 years at BBVA, starting as a District Retail Executive, moving into positions of increasing scope and responsibility in banking center management, then culminating in his leadership role over the retail network of 644 branches and more than 4,000 team members as Senior Executive Vice President, Head of Retail Banking.
Franco remains active in the community, serving as a Board Member of Junior Achievement of Southeast Texas. He is also an Executive Advisory Board Member of the National Basketball Retired Players Association.
He earned his bachelor’s degree from the University of Phoenix and completed the Executive Leadership Program at Harvard Business School.
Rhonda Davenport
Davenport has spent more than 36 years with Comerica, joining the bank in 1987. She has held positions of increasing score and responsibility in banking center management, including regional manager in Michigan, new business development in small business banking, national sales/service management and retail operations. As the Director of the Comerica Bank Loan Center (CLC), she oversaw CLC operations for all consumer and small business loans generated through Comerica’s national operations. In this role, she spearheaded a consumer loan origination redesign project with redefined roles and responsibility, as well as implemented extensive training and continuous improvement initiatives which, among others, significantly reduced loan processing time resulting in a significant increase in loan growth. She is a member of the Retail Operation Committee and contributes valuable insights to organizational effectiveness.
She earned a bachelor’s degree in business, as well as an MBA, from Western Michigan University, and is a graduate of the Graduate School of Retail Bank Management administered by the Consumer Bankers Association.
About Comerica
This year, Comerica Bank celebrates 175 years of raising expectations for its customers, colleagues and communities. Comerica Bank, a subsidiary of Comerica Incorporated (NYSE: CMA), is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank and Wealth Management. Comerica, one of the 25 largest commercial U.S. financial holding companies, focuses on building relationships and helping people and businesses be successful, providing more than 400 banking centers across the country with locations in Arizona, California, Florida, Michigan and Texas. Founded on Aug. 17, 1849, in Detroit, Michigan, Comerica continues to expand into new regions, including its Southeast Market, based in North Carolina, and Mountain West Market in Colorado. Comerica has offices in 17 states and services 14 of the 15 largest U.S. metropolitan areas, as well as Canada and Mexico. Comerica reported total assets of $85.8 billion at Dec. 31, 2023. Learn more about how Comerica is raising expectations of what a bank can be by visiting www.comerica.com, and follow us on Facebook, X (formerly known as Twitter), Instagram and LinkedIn.
