People’s United Financial appoints John P Barnes as president and CEO

first_imgPeople’s United Bank,People’s United Financial, Inc (Nasdaq: PBCT), a diversified financial services company, today announced that it has named John P. (Jack) Barnes as President, Chief Executive Officer and a member of the Board of Directors effective immediately.  Barnes was also named President, CEO and a director of the Company’s subsidiary, People’s United Bank.  Barnes, 54, has served as interim President and CEO since the departure of former CEO Philip R. Sherringham in April. He was with Chittenden Bank Vermont until it was bought by People’s in 2008.The company’s announcement follows an extensive executive search involving internal and external candidates, which the Board of Directors conducted in partnership with Russell Reynolds, a leading executive search firm with substantial financial services sector expertise.”We are pleased to announce that, after a very thorough search process involving numerous external candidates, the Board unanimously determined that Jack is the right leader for the company in its next phase of growth,” said Chairman of the Board George P. Carter. “He has a broad banking background and extensive experience with bank acquisitions and integration ‘ both as a leader at People’s United and at Chittenden Corporation. He also brings to the role a unique and essential understanding of the commitment of People’s United to its customers, employees and communities throughout the franchise.”In the three months that Jack has led People’s United as interim President and CEO, he has clearly demonstrated his strong leadership skills and the ability to execute on our strategy of delivering growth and increasing shareholder value,” Carter added. “Along with our solid second quarter earnings results, we also announced last week two strategic acquisitions that extend our footprint as the largest bank headquartered in New England even further into the New York metro and Boston area markets,” Carter continued. “During the past six months Jack also has overseen the very successful conversion of our core banking systems and the process of rebranding all of our northern New England divisions to the People’s United Bank name.””I am delighted by the Board’s decision,” Barnes said. “I look forward to continuing to work closely with our Board, management team, and dedicated employees as we build on our strong strategic and financial foundation. People’s United benefits from a number of unique characteristics in the present environment, including our enviable footprint, strong balance sheet, solid asset quality and many growth prospects, and I am excited about the opportunity to fully realize the bank’s potential.”Barnes joined People’s United Financial as Senior Executive Vice President and Chief Administrative Officer following the acquisition of Chittenden Corporation in early 2008.  In this position, he managed Information Technology, Operations, Real Estate Services and Business Services.  Barnes joined Chittenden Bank in 1983 after five years with the FDIC in Boston. He became Senior Vice President and Chief Credit Policy Officer in 1988.  In 1990, he was named to head the Credit Policy and Administration division. In 2002, he was appointed Executive Vice President in charge of the newly formed Chittenden Services Group, which included Information Technology, Operations and other centralized services for the corporation. Forward-Looking Statements Disclosure and “Safe Harbor” NoteCertain statements contained in this release are forward-looking in nature.  These include all statements about People’s United Financial’s plans, objectives, expectations and other statements that are not historical facts, and usually use words such as “expect,” “anticipate,” “believe” and similar expressions.  Such statements represent the Board’s and management’s current beliefs, based upon information available at the time the statements are made, with regard to the matters addressed.  All forward-looking statements are subject to risks and uncertainties that could result in outcomes (including those affecting People’s United Financial’s actual operating results or financial condition) that differ materially from those expressed in or implied by such statements.  Factors of particular importance to People’s United Financial include, but are not limited to:  (1) changes in general, national or regional economic conditions; (2) changes in interest rates; (3) changes in loan default and charge-off rates; (4) changes in deposit levels; (5) changes in levels of income and expense in non-interest income and expense related activities; (6) residential mortgage and secondary market activity; (7) changes in accounting and regulatory guidance applicable to banks; (8) price levels and conditions in the public securities markets; (9) competition and its effect on pricing, spending, third-party relationships and revenues; and (10) the successful integration of acquired companies.  People’s United Financial does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.People’s United Financial, Inc., a diversified financial services company with approximately $22 billion in assets, provides consumer and commercial banking services through its subsidiary, People’s United Bank, with nearly 300 branches inConnecticut, Vermont, New Hampshire, Massachusetts, Maine and New York. Through additional subsidiaries, People’s United provides equipment financing, asset management, brokerage and financial advisory services, and insurance services.SOURCE: People’s United Financial, Inc. 7.22.2010/PRNewswire-FirstCall/last_img read more


Massachusetts starts process for second 800MW offshore wind purchase

first_imgMassachusetts starts process for second 800MW offshore wind purchase FacebookTwitterLinkedInEmailPrint分享The Herald News:The Baker administration and the state’s utilities are ready to go back to market and put another offshore wind contract out to bid.The state Department of Energy Resources (DOER) and electric distribution companies Eversource, National Grid and Unitil have filed documents with state regulators to initiate a procurement of up to 800 megawatts of offshore wind power, with the goal of executing a final contract by the end of 2019.A 2016 law authorized up to 1,600 megawatts of offshore wind power. Vineyard Wind secured the first contract and is advancing its 800-megawatt project.The timeframe for the next procurement, which is subject to Department of Public Utilities approval, calls for bids to be submitted in August, project selection in November and execution of a long-term contract by the end of the year, enabling the venture that secures the contract to secure federal investment tax credits.The 2016 renewable energy law requires bidders to come in with lower prices in the second procurement, compared to the first, but officials said they are trying to build some “flexibility” into that process because they view Vineyard Wind’s winning bid as reflective of a very competitive price.The offshore wind industry along the Massachusetts coast has the potential to be a more significant sector than “anybody ever imagined or appreciated,” Gov. Charlie Baker said this month, once energy-storage technology is further developed and deployed in tandem with clean energy from wind turbines.More: Mass. sets specifics for second offshore wind procurementlast_img read more


Messi to lead Argentina’s assault in World Cup qualifier

first_img Loading… Goal has learned Messi is convinced that the 2021 Copa America can bring his wait for major honours with Argentina to a close , with the Barcelona superstar is excited by another shot at international glory. Despite boasting the most distinguished of CVs at club level – one that includes 10 La Liga titles and four Champions League crowns – senior silverware with his country has eluded a six-time Ballon d’Or winner. read also:Torres: Without Messi, Man City still remain the best A gold medal was secured at the 2008 Olympics, to go with an U20 World Cup win in 2005, but that is as good as it has got for Messi when turning out for the Albiceleste. Messi believes in the work being carried out by Lionel Scaloni and the Albiceleste coaching team and feels absolute trust can be shown in those calling the shots. Scaloni has been at the helm since a disappointing showing under Jorge Sampaoli at the 2018 World Cup delivered a last-16 defeat at the hands of eventual winners France. Argentina squad: Agustin Marchesin (Porto), Emiliano Martinez (Aston Villa), Juan Musso (Udinese); Marcos Acuna (Sevilla), Leonardo Balerdi (Marseille), Juan Foyth (Tottenham), Walter Kannemann (Gremio), Facundo Medina (Lens), Nicolas Otamendi (Manchester City), Nehuen Perez (Atletico Madrid), German Pezzella (Fiorentina), Renzo Saravia (Internacional), Nicolas Tagliafico (Ajax); Joaquin Correa (Lazio), Rodrigo De Paul (Udinese), Nicolas Dominguez (Stuttgart), Alejandro Gomez (Atalanta), Giovani Lo Celso (Tottenham), Alexis Mac Allister (Brighton and Hove Albion), Lucas Ocampos (Sevilla), Exequiel Palacios (Bayer Leverkusen), Leandro Paredes (Paris Saint-Germain), Guido Rodriguez (Real Betis); Lucas Alario (Bayer Leverkusen), Paulo Dybala (Juventus), Lautaro Martinez (Inter), Lionel Messi (Barcelona), Cristian Pavon (LA Galaxy), Giovanni Simeone (Cagliari). FacebookTwitterWhatsAppEmail分享 Lionel Messi headlines Argentina’s preliminary 30-man squad for next month’s CONMEBOL World Cup qualifiers against Ecuador and Bolivia. World Cup qualifying for the 2022 showpiece in Qatar was due to begin in March, but the coronavirus pandemic forced a delay until October. Now, Lionel Scaloni’s Argentina – who have not played since November – will kick-off their campaign against Ecuador in Buenos Aires on October 8 before travelling to Bolivia five days later. Argentina and Barcelona captain Messi is joined in the preliminary squad by Juventus star Paulo Dybala and Inter forward Lautaro Martinez. Uncapped duo Facundo Medina and Nehuen Perez have also been included, while former Arsenal goalkeeper Emiliano Martinez could make his debut after completing a move to Aston Villa. Messi’s international future has been a topic of interest since he retired from the national team after the 2016 Copa America final loss to Chile, before reversing his decision soon after. Promoted ContentPretty Awesome Shows That Just Got Canceled5 Of The World’s Most Unique Theme Parks2020 Tattoo Trends: Here’s What You’ll See This Year11 Most Immersive Game To Play On Your Table TopCouples Who Celebrated Their Union In A Unique, Unforgettable WayThe Best Cars Of All TimeThe Highest Paid Football Players In The World7 Non-Obvious Things That Damage Your PhoneWho Is The Most Powerful Woman On Earth?A Hurricane Can Be As Powerful As 10 Atomic BombsTop 10 Most Romantic Nations In The WorldThe Funniest Prankster Grandma And Her Grandsonlast_img read more