Activist Investor HoldCo Plans Board Fight to Sell Comerica

Activist investor HoldCo Asset Management, holding a $155 million stake in Comerica Inc., is pressing the Texas-based regional bank to consider selling itself amid years of stock underperformance. If Comerica does not initiate a sale process, HoldCo plans to nominate five directors to the bank's board to push for strategic changes, highlighting concerns over interest rate management and overall value creation. Comerica's stock has lagged behind the broader industry since Curtis Farmer became CEO in 2019, drawing scrutiny from analysts and institutional investors alike. This push by HoldCo is part of a broader trend of investor impatience with regional banks, which face pressure to consolidate in order to compete with larger banks like JPMorgan Chase and Bank of America. The bank has stated its commitment to executing its strategic plan and engaging with shareholders but has not committed to a sale. Meanwhile, the regulatory environment under the Trump administration has facilitated increased merger and acquisition activity among banks, exemplified by recent deals such as Pinnacle Financial Partners' merger with Synovus Financial.