Comerica Incorporated said today it had snagged an 11-member wealth management team in Southern California that manages some $3 billion in assets. According to the team members’ profiles on LinkedIn, they came from Irvine, Calif.-based Union Bank, which was purchased last year by U.S. Bancorp.

Heading the team is John Coker, senior vice president and private banking advisor, who spent more than 31 years at Union Bank. “After extensive consideration of multiple firms, we selected Comerica for its shared values and commitment to providing best-in-class service and meeting the complex needs of our clients," he said in a statement. "With access to Comerica's comprehensive array of products and services, we look forward to providing more customized solutions our clients require to support their unique financial challenges and long-term goals."

Other members of the Costa Mesa, Calif.-based squad from Union Bank are David Chavez, Matt Webber, Christopher Illiano, Teresa Tabel, Deon Holmes and Genesis Moreno. They will report to Comerica’s Eric McMullen, senior vice president and private wealth regional director, who has been with the bank for six years.

Another crew will be based in Century City, in Los Angeles, under the direction of Mehdi Emrani, senior vice president and private wealth regional director, who joined Comerica about two years ago. These include Sanjay Chugani, Maria Thieman and Ryan Tunnell.

Altogether, the newcomers represent more than 260 years of experience in the financial service industry.

"I am delighted to welcome this team to Comerica," said Connie Degler, Comerica's executive vice president and national director of private wealth, in a statement. "Our client-centric, planning-based approach, bolstered by this team of experienced advisors, deepens our commitment to wealth management in Southern California."

The new recruits are part of Dallas-based Comerica’s ongoing effort to expand its wealth management capabilities and geographic footprint. As of June 30, 2023, it had total assets of nearly $91 billion. But like a lot of financial companies, its stock has suffered this year. Shares are down roughly 18% year-to-date.