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 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 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Glass-Steagall Act forced a separation between the commercial banking and financial services industry, but the Act was repealed in 1999.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).
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…
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
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
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