First Annapolis Advises People’s United Bank on the Formation of a Merchant Services Joint Venture with Vantiv
BRIDGEPORT, CT and CINCINNATI, OH – People’s United Bank, a subsidiary of People’s United Financial, Inc. (NASDAQ: PBCT) and a premier, community-based, regional bank in the Northeast, and Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology, announced a joint venture to provide the next generation of payment solutions to businesses throughout the People’s United Bank footprint. People’s United Bank has a network of 407 retail locations throughout Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine. The agreement expands upon the debit processing and ATM services Vantiv has been providing People’s United Bank for the past eight years extending Vantiv’s geographic reach and coverage to small and mid-sized merchants throughout the Northeast.
“By joining forces with Vantiv, People’s United Merchant Services can provide customers with targeted solutions and advanced technology,” said Lee Powlus, senior executive vice president, chief administrative officer, at People’s United Bank. “The relationship highlights our commitment to delivering an outstanding experience to our customers. Vantiv’s consultative approach to selling, along with their innovation in the payment processing industry made it an easy decision to partner with them.”
First Annapolis Consulting, Inc. served as exclusive advisor to People’s United Bank.
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