DETROIT/October 6, 2004 - The Michigan Minority Business Development Council (MMBDC) named Comerica Incorporated as "Corporation of the Year- Finance Sector" at its annual awards dinner, held October 5, 2004, at Cobo Conference Center in Detroit. This is the ninth consecutive year the Detroit-based banking company has earned the top honor for its supplier diversity efforts.
"We’re proud to be the hometown bank, and recognize the value of supplier diversity and minority business development in our great state," said Ralph W. Babb Jr., Comerica’s chairman and chief executive officer. "We’re especially proud of our dedicated colleagues who help us to achieve our supplier diversity and minority business development goals. We also are thankful for the minority entrepreneurs who are our customers and suppliers of goods and services."
The 21st annual awards dinner carried the theme, "Supplier Diversity: A Celebration of Excellence," and featured former basketball standout Earvin "Magic" Johnson, now a successful business person, as guest speaker.
"It was a magical night for a lot of companies and individuals who were recognized for their outstanding efforts to advance minority businesses in Michigan," said Linda Forte, senior vice president of Business Affairs, who accepted the MMBDC award on behalf of Comerica.
Comerica’s commitment to supplier diversity is backed-up by a support system focused on building long-term relationships. This includes having a national minority business development coordinator, Don P. Alessi, vice president of Corporate Purchasing, who helps identify and personally assist minority vendors with technical help or advice.
"We are proud of the MMBDC award because we take supplier diversity and minority business development seriously, and recognize the value in mirroring our supplier base to our customer base," said Alessi.
Comerica colleagues Chequita Smith and Charlene Cole were nominated as MMBDC "2004 Corporate Buyer of the Year" and "2004 Corporate Minority Business Advocate of the Year," respectively. Smith is an officer in Corporate Purchasing and Cole is an officer in Corporate Public Affairs.
Established in 1978, MMBDC is a privately funded, Detroit-based non-profit corporate services organization that promotes linkages between major companies and minority businesses.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Detroit, strategically aligned into the Business Bank, Small Business & Personal Financial Services, and Wealth & Institutional Management. Comerica focuses on relationships, and helping businesses and people be successful. Comerica reported total assets of $55 billion at June 30, 2004.
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