PHILADELPHIA/Oct. 17, 2002 - Comerica (NYSE: CMA), a leading financial services company, announced today that Steven D. Hobman, senior vice president and manager of its Mid-Atlantic North Technology and Life Sciences Division, has been named to the Board of Directors of the Eastern Technology Council. The council serves leaders of technology-oriented companies by providing customized events and innovative financial services, as well as a broad variety of publications, and cost-saving discounts on healthcare and retirement benefits.
"After being involved with the Technology Council for eight years, I am honored to be joining the distinguished people who serve as Board members," Hobman said. "This organization facilitates countless valuable relationships between members, and it is well-known throughout the region for its outstanding events, its widely read newspaper Technology Times, and its acclaimed Enterprise Awards Gala."
Hobman is a technology finance veteran who started the region’s first technology lending group at Meridian Bank in 1994. He developed the concept of TechBanc, a strategic partnership with the Technology Council that was transferred to Progress Bank in 1998. Earlier this year, Hobman engineered the acquisition of TechBanc by Comerica, which operates a national venture banking practice and has become a Technology Council preferred provider.
In addition to his bank-related work, Hobman has contributed to the local financial scene as a founding partner of the Ben Franklin/Progress Capital Fund, LP, and as a co-founder of New Spring Ventures, a $90 million SBIC fund that makes equity investments in technology, health care and business services. His other local activities include serving on the Boards of Neighborhood Health Agencies, Inc. and Rankin Corporation.
About Comerica’s Technology and Life Sciences Division
Comerica’s Technology and Life Sciences Division is one of the nation's leading technology banking practices, offering a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. Veteran bankers provide credit and financial services and products to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts in the computer products, Internet services, telecommunications, life sciences and e-commerce industries. From 19 offices located across the U.S., Comerica’s Technology and Life Sciences Division serves all major technology centers. Comerica is among the 20 largest banking companies in the nation, with $52.6 billion in assets.
Media Contacts:
Adrienne Moch
Pacifico (for Comerica’s Technology and Life Sciences Division)
(408) 293-8600 x319
amoch@pacifico.com
or
Keith Turner
Comerica Bank-California
(408) 556-5111
keith_turner@comerica.com
