Business Services Industry
FINANCE.(2007 Book of Lists and Detroit yearbook)
Crain's Detroit Business, December, 2006
Two deals stood out on the local financial scene in 2006 - the pending merger of Citizens Banking Corp. and Republic Bancorp and Comerica Inc.'s sale of its stake Munder Capital Management unit. The $1.05 billion merger, which shareholders had just approved at press time, combines Flint-based Citizens' strength in commercial banking with Ann Arbor-based Republic's mortgage specialty (See Page 89).
The $302 million deal for Comerica's 90 percent stake in Munder, the area's largest money manager, gives ownership to an investor group that includes New York City private-equity firm Crestview Partners L.P. and members of Munder's management team. But perhaps the most visible change in the banking world was a raft of new signs when Bank One branches were...
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