MONEY MANAGEMENT

Comerica Asset Management Group recruits CIO

Peter A. Sorrentino was named senior vice president and chief investment officer of Comerica Asset Management Group, confirmed spokesman Wayne Mielke.

He replaced Dennis A. Johnson, who left the company to pursue other opportunities.

Mr. Sorrentino will be responsible for developing, overseeing and administering the firm’s investment strategies. He will also serve as chairman of the Comerica investment policy committee.

Mr. Sorrentino’s will also become CIO of the company’s retirement plans, which had $3.9 billion in U.S. assets, including $2.6 billion in defined benefit assets and $1.3 billion in defined contribution assets, as of Sept. 30, according to Pensions & Investments data.

He will report to Michael W. Malone, president and CEO of Comerica Securities, Comerica Asset Management and World Asset Management.

Mr. Sorrentino was senior vice president and senior portfolio manager at Huntington Asset Advisors. He will not be replaced, said Michael Schoonover, spokesman for Catalyst Capital Advisors, which bought the Huntington Asset business.

Comerica Asset Management Group, the investment management division of Comerica, reported total assets under management of $74 billion as of Sept. 30.