APRIL 9, 2001

People's Bank Creates New Division,
Names Hank Mandel Executive Vice President

BRIDGEPORT, CONN.
People’s Bank has created a new Organization Effectiveness division and named Hank Mandel executive vice president, Organization Effectiveness, to lead it. Previously, Mandel was senior vice president, Organization Effectiveness and Strategic Planning.

“In this new role, Hank will continue to lead us to our goal of becoming Connecticut’s Workplace of Choice and to achieve the People’s vision through our focus on our people and our leadership model,” said John A. Klein, president and CEO. “Hank has been instrumental in bringing new leadership and discipline to the OE function and strategic management. With his varied company experiences and creative talents, Hank adds an exciting dimension to the bank’s executive leadership team.”

The new Organization Effectiveness division will include Human Resources, People’s Corporate University, OE Financial Management, Strategic Management Group, the Balanced Scorecard, Corporate Communications and Workplace of Choice Partnership.

Mandel joined People’s in 1998 as first vice president in the bank’s Credit Card Division, where he was responsible for strategic planning, training, organization development, recruitment, human resources, benefits, compensation and quality assurance. He was named senior vice president in 1999.

Prior to joining People’s, Mandel owned and operated Creative Counsel, a consulting firm that designed, implemented and managed product, brand, human resource and corporate positioning programs. His clients included the Country Music Association, Reebok, CBS Radio, Southern New England Telephone, Nynex and Bell Atlantic. He was an associate professor at Yale University from 1969 through 1979.

Mandel holds a Bachelor of Fine Arts degree from Ithaca College and a Master of Social Work and Organizational Behavior degree from Rutgers University.

Mandel has been involved in numerous community activities, including chairing the Bethany/Woodbridge Chamber of Commerce, coaching Little League in Bethany and volunteering at the Yale-New Haven Hospital Crisis Center. In 1975 he founded the Center for Living with Illness and Death and worked closely with the Yale Comprehensive Cancer Center and School of Nursing.

He now resides in Stratford with his wife, Barbara. They have two daughters, Briana and Lauren.

People’s (peoples.com) is a diversified financial services company providing commercial, consumer, insurance and investment services. Founded in 1842, it is the largest state-chartered bank in Connecticut with managed assets of $13 billion, 144 branches and 220 ATMs. People’s is a leader in consumer and commercial banking, residential lending, insurance sales, supermarket banking and is the nation’s 15th-largest issuer of MasterCard and Visa credit cards. People’s subsidiaries offer brokerage services, asset management, equipment financing and leasing, and insurance services.