Michael J. Maiorino Joins People's United Bank as Executive Vice President, People's United Business Capital

BRIDGEPORT, Conn., July 11, 2011 /PRNewswire/ -- People's United Bank announced today that Michael J. Maiorino has joined the bank's Commercial Banking group as Executive Vice President and head of People's United Business Capital which comprises Asset Based Lending and Mortgage Warehouse Lending.

Maiorino joins People's United Bank from Sovereign Bank/Banco Santander in Boston, Massachusetts, where he spent the past nine years.  While at Sovereign, Maiorino was Executive Vice President and Division President of Sovereign Business Capital, a $2 billion business and EVP, Debt Management and Recoveries.  Prior to that Maiorino was Division President at Fleet Capital, now Bank of America Business Capital, responsible for the Business Finance Division.    

"We are pleased to have Mike join us and look forward to leveraging his experience in building businesses based on strong relationships and solid asset quality," said Jeffrey Tengel, Senior Executive Vice President. "His proven experience and leadership makes him an ideal candidate to increase our presence in these businesses."

People's United Bank is a subsidiary of People's United Financial, Inc., a diversified financial services company with $28 billion in assets. Peoples United Bank, founded in 1842, is the largest independent bank headquartered in New England and provides consumer, commercial and wealth management services through 370 branches in Connecticut, Massachusetts, Vermont, New York, New Hampshire and Maine. Through additional subsidiaries, People's United provides equipment financing, asset management, brokerage and financial advisory services, and insurance services.

SOURCE People's United Bank