BRIDGEPORT, Conn., Feb. 23, 2011 /PRNewswire/ -- People's United
Financial, Inc. (Nasdaq: PBCT), the holding company for People's
United Bank, announced today that it has named Kirk W. Walters as Senior Executive Vice
President and Chief Financial Officer. Walters is expected to
commence his duties shortly and will also be appointed to the
Boards of Directors of People's United and the Bank.
Walters, 55, was most recently Senior Executive Vice President
and a member of the Board of Directors of Santander Holdings USA,
Inc., the parent company of Sovereign Bank. He joined Sovereign in
February 2008 as Executive Vice
President and Chief Financial Officer and served as interim
President and Chief Executive Officer from October 2008 until Banco Santander acquired the
bank in February 2009. Prior to
joining Sovereign, Walters was Executive Vice President and Chief
Financial Officer of Chittenden Corporation from 1996 to 2008,
which People's United acquired in January
2008.
"Kirk brings extraordinary competencies and a wealth of
experience built over a finance career that spans more than 30
years," said Jack Barnes, President
and Chief Executive Officer of People's United. "He has worked for
25 years in the banking sector, 22 of which were spent in the
Northeast markets where People's United currently operates and
intends to expand. As our strategic priorities are increasingly
focused on growing and improving the profitability of our existing
franchise, Kirk's addition is a unique opportunity to advance that
effort at a faster pace. His experiences at Chittenden and
Santander give him an outstanding perspective on the competitive
landscape in which we operate. Kirk and I have an excellent history
of working together, having served concurrently on the executive
management team of Chittenden for many years. Finally, he knows our
businesses and many of our managers well."
Walters replaces Paul D. Burner,
who recently left the company. Jeffrey A.
Hoyt, Senior Vice President and Controller, will serve as
Chief Financial Officer on an interim basis.
People's United Bank is a subsidiary of People's United
Financial, Inc., a diversified financial services company with
$25 billion in assets. Peoples United
Bank, founded in 1842, provides consumer, commercial and wealth
management services through nearly 340 branches in Connecticut, Vermont, New
York, New Hampshire,
Maine and Massachusetts. Through additional
subsidiaries, People's United provides equipment financing, asset
management, brokerage and financial advisory services, and
insurance services.
People's United Bank. Everything Starts With
You.
SOURCE People's United Financial, Inc.