Sept 2 (Reuters) - Activist investor HoldCo Asset

Management is threatening to nominate board directors at

Comerica ( CMA ), the Wall Street Journal reported on Tuesday,

in the latest move to force the regional lender to consider a

sale.

The move comes just over a month after the South

Florida-based asset manager pushed Comerica ( CMA ) to pursue a sale

process, saying the bank's stock has underperformed over the

past two decades.

If the bank doesn't pursue a sale, HoldCo plans to nominate

around five directors to Comerica's ( CMA ) board when the window opens,

likely in December, the WSJ report said, citing people familiar

with the matter.

"Comerica ( CMA ) is focused on driving value for our shareholders

and continuing to execute our strategic plan. As always, we

welcome feedback from all of our shareholders and we will

continually evaluate opportunities that support growth and value

creation," the bank said in a statement.

HoldCo did not immediately respond to a Reuters request for

comment.

Comerica ( CMA ) shares closed down 0.7% at $70.07 on Tuesday. Since

Curtis Farmer was named the bank's CEO in 2019, Comerica's ( CMA ) stock

price has underperformed the broader industry.

In recent months, Wall Street analysts, including Wells

Fargo's Mike Mayo and Baird's David George, have also raised

questions around Comerica's ( CMA ) stock underperformance.

HoldCo, which manages roughly $2.6 billion in assets, in

late July disclosed a 1.8% stake in Comerica ( CMA ).

The activist investor has a history of pushing for changes

at various banks, having pursued a campaign in 2021 against SVB

Financial's acquisition of Boston Private.

The move also comes as a more sanguine regulatory

environment under the Trump administration has paved the way for

a revival in large bank M&A activity.

In July, Pinnacle Financial Partners ( PNFP ) and Synovus

Financial ( SNV ) agreed to combine in an $8.6 billion all-stock

transaction, the biggest U.S. bank deal so far this year.