BRIDGEPORT, Conn., Feb. 18, 2021 /PRNewswire/ -- People's
United Bank, N.A. a subsidiary of People's United Financial, Inc.
(NASDAQ: PBCT) today announced that Stephen
Hoffman was appointed Managing Director, Utilities, Power
and Renewable Energy, Corporate Banking. The newly formed Corporate
Banking specialization will focus on clients both public and
private that build, own, and operate energy infrastructure.
People's United's focus on renewable energy is a part of their
commitment to be a part of and support the major transition toward
clean power that is underway in the country's energy
industry.
Under Hoffman's leadership, the team will deliver a wide range
of financing, risk, and treasury management options. Prospective
clients include: Investor-Owned Utilities; Local Distribution
Companies; Electric Cooperatives; Municipal Utilities; Transmission
Companies; Renewable Energy companies such as solar, wind and
battery storage.
"We are excited to welcome Stephen to People's United as we
continue to expand our value proposition and strengthen our focus
on sustainability, social impact and change in our communities. His
industry expertise and understanding of the complexities companies
face and how to successfully navigate them, coupled with a
relationship-based approach to service directly aligns with our
strategy," said Amy Le Blanc
Hackett, Managing Director, Corporate Banking, People's
United Bank. "The Utilities, Power and Renewable Energy sector is
one of the largest industries in the US and presents a significant
opportunity for growth. We are thrilled to have Stephen lead this
effort."
Hoffman joins People's United with more than 25 years of
corporate and commercial banking experience, with a focus on the
energy industry. Most recently he served as Managing Director and
Director of Energy Banking at Huntington Bank where he founded
their Energy Banking Group. Prior to that he was Managing Director
for Bank of America's Natural Resources Group where he managed
their Natural Resources portfolio, and before that, Director, Fleet
Bank Energy and Utilities Division where he managed a portfolio of
and mid-sized energy companies nationwide.
"I am excited to join the team at People's United at a time of
strategic growth and expansion in their capabilities," said
Hoffman. "The power and utilities industry are expected to lead the
charge in the ambitious goal of net-zero greenhouse emissions by as
early as 2035. These plans will require a significant capital
investment and my goal is to serve as a trusted financial advisor
to clients undertaking this project of major importance to the
country."
The Corporate Banking team at People's United Bank focuses on
building long-term relationships with US and multi-national
corporations across all major industries. The team of experienced
Relationship Managers focus is to deliver solutions and strategic
insights to help streamline financial operations and minimize
business and market risks, to achieve a Company's long-term
goals.
About People's United Bank
People's United Bank, N.A.
is a subsidiary of People's United Financial, Inc., a diversified,
community-focused financial services company headquartered in the
Northeast with more than $63 billion
in assets. Founded in 1842, People's United Bank offers commercial
and retail banking through a network of over 400 retail locations
in Connecticut, New York, Massachusetts, Vermont, New
Hampshire, and Maine, as
well as wealth management solutions. The company also provides
specialized commercial services to customers nationwide.
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SOURCE People's United Bank