Fed's surprise message: June interest rate hike likely if economy improves
Martin Crutsinger Associated Press - WASHINGTON — Catching many investors off guard, the Federal Reserve made clear Wednesday that an interest rate hike in June is likely if the economy keeps...
View ArticleCould Comerica look north for suitor?
Tom Henderson - Is there a Bank of Montreal in Comerica Inc.'s future? Ralph Babb, Comerica's chairman and CEO, told analysts and angry activist shareholders at the bank's annual meeting on April 26...
View ArticleMichigan continues to drive Comerica's bottom line
Tom Henderson - When Comerica Inc. shocked Michigan in 2007 by announcing it was moving its headquarters to Dallas, it was explained as a way to be closer to the growing markets of California and...
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Unhappy investors await Comerica's recovery plan
Tom Henderson - Comerica Inc., which moved its headquarters from Detroit to Dallas in 2007, faces its biggest corporate challenge since it merged with Manufacturers National Bank in 1992. As oil...
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Bank of America names local executive to head of business banking for Midwest...
Tom Henderson - The Bank of America Merrill Lynch has named Senior Vice President Matt Elliott as head of business banking for the Midwest region. It is a new position, in BoA's global banking and...
View ArticleAmericans have disparate access to retirement plans
Sarah Skidmore Sell AP Business Writer - Americans who want to retire may face very unequal paths to get there depending on where they live. Workplace retirement plans, such as 401(k) accounts, have...
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Former All-American UM wrestler Mike Amine leaves MetLife to open Securian...
Katherine Chiglinsky Bloomberg - Mike Amine, a former All-American collegiate wrestler who graduated from the University of Michigan, is starting a financial advisory firm in Southfield as part of...
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How metro Detroit banks are investing in digital age
Tom Henderson - What do tiny Clarkston State Bank and big Ally Bank have in common? Almost nothing except their approaches to banking in the 21st century. For both, mobile banking and the internet are...
View ArticleBank news roundup
Crain's Detroit Business - The alternative financing market, including crowdfunding and peer-to-peer lending, is exploding, according to a report by KPMG LLP, the Cambridge Centre forAlternative...
View ArticleOpinion: Yahoo bid hints at Gilbert's vision
Detroit as the "fintech capital of the world." With that offhand remark, Dan Gilbert hinted at a strategy that may lie behind his reported bid for Yahoo, the ailing digital behemoth that put itself on...
View ArticleAt United Shore, it's not all about the work
Tom Henderson - How important is culture? All-important, says Mat Ishbia, president and CEO of Troy-based United Shore Financial Services LLC. In 2011, the company did about
$1.8 billion in mortgages,...
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Cambridge Consulting to move to downtown Royal Oak from Troy
Kirk Pinho - Troy-based Cambridge Consulting Group is moving its corporate headquarters to downtown Royal Oak to accommodate planned growth. The insurance and financial services company is taking...
View ArticleS&P changes outlook for Wayne County's debt to 'positive'
Dustin Walsh - New York-based Standard & Poor's Thursday revised its outlook for Wayne County's debt. S&P raised its rating from "negative" to "positive," thanks to the county's cost-savings...
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Clawson's International Bancard to move headquarters to Detroit
Adrienne Roberts - Clawson-based credit card processing company International Bancard Corp. will move its headquarters to a Dan Gilbert-owned building in downtown Detroit's Madison Block. Construction...
View ArticleCredit score company FICO buys University of Michigan spinoff
Tom Henderson - Ann Arbor-based QuadMetrics Inc., a 2015 spinoff from the University of Michigan that helps companies evaluate their cybersecurity, has been bought by San Jose, Calif.-based FICO....
View ArticleGemphire Therapeutics delays IPO over uncertainty caused by Brexit
Tom Henderson - The initial public offering for Northville-based Gemphire Therapeutics Inc., which had been scheduled for the Nasdaq Stock Exchange on Thursday, is now likely to happen sometime this...
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Pierce talks of bank transition and life
Tom Henderson - Sandy Pierce has a new job — and it comes with many hats. Columbus, Ohio-based Huntington Bancshares Inc. (Nasdaq: HBAN) announced last week that the longtime local banker and...
View ArticleMBT Financial added to Russell 2000, Russell 3000
Tom Henderson - MBT Financial Corp. (Nasdaq: MBTF), the parent company of Monroe Bank & Trust, announced Monday that it has been added to the Russell 3000 Index and the Russell 2000 Index for at...
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Keith Crain: Warren Evans' team is showing great improvement
Keith Crain - If you ever want to test an executive's ability to comprehend a complicated balance sheet, hand them the current analysis of their pension plan and ask the exec to explain it. Wayne...
View ArticleTroy-based United Wholesale is No. 1 wholesale mortgage lender
Tom Henderson - Troy-based United Wholesale Mortgage, the wholesale lending division of United Shore Financial Services LLC, continued to dominate the nation's wholesale lenders in the first quarter...
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