BRIDGEPORT, Conn. - People's Bank announced a set of strategic initiatives Wednesday that includes formation of an e-business division, a bigger emphasis on selling investment and brokerage products, and a pledge to improve customer service in its retail division.
Michael J. Leone, an executive vice president, was named head of the e-business unit, which will focus on developing strategies and technologies needed to expand the company's presence on the Internet. In a statement, People's said the formation of the unit was part of a previously announced "bricks and clicks" strategy, which includes boosting online services as well as building 30 branches in Connecticut.
People's credits Mr. Leone for helping to build the $13 billion-asset company's retail distribution system, which ranges from traditional branches to supermarket outlets and online services.
Robert R. D'Amore, a senior vice president, will be in charge of retail investor services, which will include financial planning, insurance, and brokerage services.
The company said the former regional manager will guide efforts to transform traditional branches into full-service financial product sales centers.
Mr. D'Amore will also oversee People's Securities, the NASD-member brokerage subsidiary, which has 26 locations in Connecticut. He will preside over the unit's national expansion, the company said in a statement.
James M. Sheridan, a senior vice president and another former regional manager, will oversee the new customer relationship-management unit.
People's also said it would split the management of its Connecticut retail operations in two, with hubs in Stamford and Hartford. Jay M. Forgotson, a senior vice president, will run the western part of the state out of Stamford. Daniel R. Dennis Jr., a senior vice president, will manage the eastern Connecticut market.