Comerica will strengthen its capital markets business by adding an M&A arm.

Comerica established a national investment banking unit in its capital markets business, expanding the range of products and services it offers to its business and wealth management clients.

Comerica Securities, a subsidiary of the Dallas-based parent company, provides mergers and acquisitions services as well as private placement advisory services, the firm said.

The group will be led by Jack Mayer, head of investment banking, who joined from UBS Comerica in May 2022.

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Nicholas Amos and Jeff Wilson, who joined Comerica last year, will serve as managing directors, and Brian Miller, most recently vice president of Comerica’s environmental services division, will become a director.

Maier, Amos and Wilson are based in Dallas, while Miller is based in Detroit, a company spokeswoman said in an email Thursday. More employees will be added as the business grows, according to the spokesperson.

Comerica said M&A and private placement advisory services are increasing due to client demand, competition from other banks and the desire to attract and retain more clients.

M&A services were “a missing piece,” Comerica’s head of capital markets, Bill Murdock, said in an email. Hosting such capabilities is a way to grow the customer base by providing a “competitive advantage” that entices customers to “choose to bank with Comerica,” he said.

“Adding these services now allows us to assist business owners throughout their business lifecycle, including business transition planning,” said Murdoch.

Some of Comerica’s peers have recently made similar moves. Dallas-based Texas Capital Bank established an investment bank last year Business strategy update.

Separately, the $85.4 billion-asset Comerica recently made three promotions to top executives.

Peter Sefczyk, formerly the CEO of Comerica, became the company’s chief banking officer on January 27. Sefczyk, who has worked at Comerica since 1999, now oversees commercial and retail banking as well as wealth management, marketing and customer relations. Experience, the company said.

Megan Crespi, formerly Comerica’s chief enterprise technology and operations services officer, has become the company’s chief operating officer. Before Crespi joined Comerica in 2020, she was the chief technology officer of Ali Bank. In her new role, her responsibilities will include technology, enterprise security, credit and business services, corporate real estate and the customer relationship center.

Megan Burkhart, meanwhile, was promoted from chief human resources officer to chief administrative officer.

In the year Burkart, who has led human resources since 2010, will now lead the company’s business program management office and corporate responsibility in addition to human resources, the company announced.

Sefzik, Crespi and Burkhart will all continue to report to Comerica CEO Kurt Farmer. According to a company spokesperson, all three roles are newly created.