November 20, 2002

People's Bank Hires VP of Strategy Management

Laura Naramore to Guide Results-Based Strategic Efforts

BRIDGEPORT, CONN.
People's Bank today announced it has hired Laura Naramore as leader of the Bridgeport-based financial services firm's Strategy Management team.

As the internal strategic business advisor, Naramore will focus on the dynamics that support the execution of strategy across the organization. Her primary role is to facilitate the definition, prioritization and achievement of measurable results from corporate strategic objectives.

"Laura will lead our effort to keep a strong focus on thinking and acting strategically as an organization. This includes focusing on the connections between strategy, initiatives and our desired results. In addition, she will help address the development of new business ideas by implementing our balanced scorecard and providing detailed competitive and environmental analyses," said Hank Mandel, executive vice president, Organization Effectiveness.

Naramore joins People's from Deloitte & Touche, where she was a senior manager in the Strategic Transactions group.

Previously, Naramore was with PricewaterhouseCoopers, where her most recent role was manager in The Accelerated Transition™ practice. In that role she facilitated post-acquisition strategic and operational planning for clients in the technology and consumer products sectors in North America, Asia and Europe.

A resident of North Stamford, Conn., Naramore graduated Columbia University with a bachelor's degree in history and earned a graduate degree in management from Yale University.

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, 154 branches and 230 ATMs. People's is a leader in consumer and commercial banking, residential lending, insurance sales, supermarket banking and is the nation's 16th-largest issuer of MasterCard and Visa credit cards. People's subsidiaries offer brokerage services, asset management, equipment financing and leasing, and insurance services.