People's United Financial in Bridgeport, Conn., has successfully recruited a former executive at JPMorgan Chase to join its board.

William Cruger, until last year, served as vice chairman of investment banking at the New York banking giant. Cruger, who joined JPMorgan Chase in 1982, previously worked as managing director of the bank's financial institutions group.

Cruger "brings to our board a significant knowledge of financial institutions along with leadership expertise and substantial experience in financial services, as well as great familiarity with the New York and Boston markets," Jack Barnes, People's United's president and chief executive, said in a press release Friday.

The $33 billion-asset People's United has 407 branches in the Northeast.

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