Verified Document

People's United Bank Topic Using Information Proxy Essay

People's United Bank Topic Using information proxy statement People's United Bank, New England Evaluate monitoring potential firm's Board Directors Identify strengths weaknesses board structured, ethical concerns People's

The People's United Bank, New England:

Evaluating the monitoring potential of the firm's Board of Directors, strengths and weaknesses of how the board is structured, and ethical concerns

The People's United Bank of New England offers conventional consumer banking. It also offers brokerage, financial advisory services, investment management services and life insurance through People's Securities, Inc.; equipment financing through People's Capital and Leasing Corp. And People's United Equipment Finance Corp; and other insurance services through the People's United Insurance Agency (About, 2011, People's United). It is not unusual for a bank to offer a wide range of financial services today. In 1933, the Glass-Steagall Act forced a separation between the commercial banking and financial services industry, but the Act was repealed in 1999. Glass-Steagall was enacted in the wake of the Great Depression, which was partially caused by rampant speculation and the sale by self-interested banks of paper assets that were worthless to many ordinary consumers. Since the repeal, "consequently, the distinction between commercial banks and brokerage firms has blurred; many banks own brokerage firms and provide investment services" (Glass-Steagall, 2011, Investopedia).

But through its commercial banking branches it sells many financial instruments that have a direct impact upon other aspects of the company, particularly its dealings in the financial industry and the insurance industry. Within its commercial banking sector, People's United boasts that it sells commercial and home equity loans as well as mortgages. These types of assets were 'bundled' and sold on the open market during the 2008 financial crisis, and insurance upon such assets was also sold, causing the crisis to spread to the insurance industry as well as to the banking and construction sector. The company advertises the potentially biased, close relationship between the different facets of the company an asset, not a problem for investors because it offers 'on stop shopping.' "Our clients appreciate the fact that they can call one person and know that their needs will be addressed," (2010 Annual report, 2011, People's United).
The bank's parent company is a publically-traded firm: "In April 2007, People's United Financial, Inc., the bank's parent company, completed the conversion from a mutual holding company structure to a full publicly-owned stock company" (About, 2011, People's United). An overview of its corporate leadership reveals that the company is not segmented…

Sources used in this document:
References

2010 Annual Report. (2011). People's United Website. Retrieved July 04, 2011, from https://www.peoples.com/pdf/PUFI_2010AR.pdf

Bank management committee. (2011). People's United Website. Retrieved July 04, 2011, from https://www.peoples.com/peoples/Footer/About-People%27s-United/Who-We-Are/Bank-Management-Committee

Glass-Steagall Act. (2011). Investopedia. Retrieved July 04, 2011, from Answers.com Web site:

http://www.answers.com/topic/glass-steagall-act
Industry position. (2011). People's United Website. Retrieved July 04, 2011, from https://www.peoples.com/peoples/Footer/About-People%27s-United/Who-We-Are/Industry-Position
Who we are. (2011). People's United Website. Retrieved July 04, 2011, from https://www.peoples.com/portal/site/peoples/menuitem.8367c521ed36e5baf5c45f10d7468a0c/?vgnextoid=f31afcca357aa110VgnVCM100000800510acRCRD&vgnextfmt=default
Cite this Document:
Copy Bibliography Citation

Related Documents

Delphi Study Influence of Environmental Sustainability Initiatives...
Words: 17687 Length: 60 Document Type: Literature Review

Delphi Study: Influence of Environmental Sustainability Initiatives on Information Systems Table of Contents (first draft) Green IT Current Methods and Solutions Green IT and energy costs Green It and Email Systems Green IT and ICT Green IT and ESS Green IT and TPS Green IT and DSS Green IT and other support systems Green IT and GHG reduction Green IT and the Government Sector Green IT and the Corporate Sector Future Prospects of Green IT in the software industry The paper focuses on how the

Government Surveillance of the American People
Words: 3194 Length: 10 Document Type: Term Paper

Big Brother Watches America When Orson Wells wrote his famous novel about government surveillance taken to the extreme, the world he described seemed very unrealistic. However, at the turn of the new millenium, the world that he describes is not so different and it seems as if we are just one step away from the "thought police" knocking on the door. For some this gives them an extra-added element of

Ewom Communication and Brand Trust
Words: 18230 Length: 66 Document Type: Term Paper

The corporation or seller could benefit by developing marketing strategies prior to consumer reviews being available online. Seller Response to Novice and Expert Consumers Before allowing consumers to post product reviews on a corporations or sellers website, the seller should consider the size of the segments of expert consumers and novice consumers. For example, the seller may benefit from selling certain products if a significant number of expert consumers exist, especially

Securities Regulation of Nonprofit Organizations
Words: 12607 Length: 45 Document Type: Dissertation or Thesis complete

Securities Regulation SECURITIES REGULARIZATIONS IN NON-PROFIT ORGANIZATIONS The ensuring of the fact that an organization is working as per regulations and is following the code of conduct, while keeping the interest of the public first, are matters which are becoming more and more complicated with the passage of time. Therefore, it can be said with some emphasis, that today one of the most basic issues of many organizations is the issue of

Nature of a Company's Asset
Words: 14899 Length: 48 Document Type: Research Proposal

While the first chapter was brief, it is important to explain what will be studied and then move forward into the literature review. In Chapter 2, the literature review provides a review of academic literature by way of journals and textbooks. This information is placed into separate sections which allow for ease of understanding. An introduction is made to capital structure, and information is given on the Indian capital structure

Market Orientation and Worldview from Cultural Perspective
Words: 43735 Length: 146 Document Type: Dissertation

Dissertation ManuscriptBySedric K. MorganGeopolitical Awareness and Understanding of the Current Monetary Policies: A Quantitative Study© Northcentral University, 2019 Comment by Author: Sedric – NOTE: take a look at the Turnitin Analysis report. Consider the areas that are closely related to student paper(s) from University of Maryland. I highly suspect this is a matter of improper paraphrasing (by you as well as these other student(s)). The areas are sourced and the

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now