DALLAS, Aug. 13, 2014 /PRNewswire/ -- Comerica Incorporated today announced that John M. Killian, Chief Credit Officer, will retire in May 2015 following a 40-year career with the bank. Peter W. Guilfoile, Executive Vice President and National Credit Administration Manager, will serve as the new Chief Credit Officer effective Feb.1, 2015, and will become a member of Comerica's Management Policy Committee at that time. He will report to Ralph W. Babb Jr., Comerica Chairman and Chief Executive Officer.

Killian's banking career started with Comerica in 1974.  He has held a variety of positions of increasing scope and responsibility in both lending and credit management in multiple lines of business before assuming the Chief Credit Officer role in 2010.  Previously, he served for nearly eight years as executive vice president, Corporate Credit Policy, in which he had responsibility for the Special Assets groups on a nationwide basis.

"John has been an invaluable member of our management team and helped guide our bank through the economic challenges of the past several years," said Babb. "He will work with Pete over these next several months to ensure a smooth transition.  Pete's significant experience and expertise in credit management should continue to serve Comerica well going forward."

Guilfoile joined Comerica in 1983 and since then has held a number of positions with the bank, including service as Alternate Credit Administration Officer and Group Manager for Middle Market Banking, as Divisional Credit Administration Officer for National Business Finance, and as Chief Credit Officer for the California market.  He was named National Credit Administration Manager in 2013. 

Guilfoile earned his bachelor's degree in Business Administration from the University of Notre Dame and his master's degree in Finance from the University of Michigan.

Comerica Incorporated (NYSE: CMA) 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.

SOURCE Comerica Incorporated