Even the executive offices in Comerica Bank’s Dallas-market headquarters aren’t immune to the art and culture of the Big Easy. New Orleans native Terrance Henderson tilts back in his chair, gazes at his gallery style New Orleans Jazz Festival Art collection display and discusses what it means to be an SVP and assistant general counsel for Comerica Inc., the holding company for Comerica Bank. Comerica is one of the 25 largest banking companies in the U.S. with $58 billion in assets and more than 11,000 employees.
Spending his time helping businesses solve problems and “putting out fires” daily, the University of Notre Dame Law School graduate works closely with the bank’s small business lending group. Henderson represents Comerica in negotiating, structuring and documenting commercial lending transactions for its small business, middle market, real estate, private banking, and trust business units in the Texas region. He also provides counsel to the bank’s executive managers, lending, trust and treasury management officers, branch personnel and ABL audit group regarding various legal, regulatory, strategic, operational, litigation, risk management and compliance issues. In addition, he manages a legal team that supports the bank’s small business banking group. “My specialty is commercial finance, commercial lending, real estate, and business transactions,” offers the 14 year veteran.
The former banker serves on the board of the Southern Dallas Development Corporation and is also a member of the State Bar of Texas’ Minority Counsel Program Steering Committee and the Downtown Dallas Esprit De Corps organization. He’s also a community advocate who offers pro bono services for several organizations. “I assist entrepreneurs with contracts and setting up small businesses and the management … and operational aspects. Drawing up a business plan is the first step after a need has been identified. Next, know where you want to go with your business,” Henderson says.
Henderson warns that an entrepreneur shouldn’t try to “po’boy” the administrative and legal components when establishing a business. “You should obtain professional help in setting up your business. The SBA’s SCORE unit is a group that I promote. SCORE is comprised of experienced entrepreneurs and managers who can provide advice and guide you in the development of your business. Oftentimes, there are lawyers that will assist a business that’s just getting started for reduced or minimal fees,” he says.
The University of New Orleans and Tulane University graduate recalled what he says is the best advice he has ever received. “One of my mentors told me as a lawyer to always try and be the calmest person in the room. That way you can exercise your listening powers and find out some information that is germane as well as be the catalyst for resolving issues,” says Henderson. –yvette caslin
