Comerica Bank has asked Dennis Johnson, a 30-year industry veteran, to assist in developing investment strategies for its asset management division.
Johnson, who joins Comerica Asset Management Group after previously serving as a managing director and small-cap portfolio manager at Shamrock Capital Advisors, will be the new senior VP and chief market strategist at the Dallas-based company, a July 19 press release said.
In his newly created role, Johnson will be “responsible for analyzing the markets and determining the appropriate asset allocation targets for Comerica's investment professionals.” Additionally, he will also serve as the group's media spokesperson on “investment philosophy, asset allocation, market sector analysis and other market matters,” the statement explained.
Alternately, Johnson will work out of the money management arm’s Birmingham, Mich. location and will report directly to David Skolnik, president of Comerica Asset Management, the announcement said.
In addition to his time at Shamrock Capital, Johnson also held positions at CalPERS as a senior portfolio manager, at Citgroup as a managing director and at SunTrust as a portfolio manager, the statement explained.
Currently, the Comerica Incorporated subsidiary functions through three business segments: the business bank, the retail bank and wealth and institutional management. As of March 31, it had reported total assets of $57.1 billion.