People’s United Financial, a Connecticut-based diversified financial services company, has appointed John Barnes as president, CEO and a member of the board of directors effective immediately.

Mr Barnes was also named president, CEO and a director of the company’s subsidiary, People’s United Bank. He has served as interim president and CEO since the departure of former CEO Philip Sherringham in April.

Mr Barnes joined People’s United Financial as senior executive vice president and chief administrative officer following the acquisition of Chittenden in early 2008. He joined Chittenden Bank in 1983, where he held various positions.

George Carter, chairman of the board at People’s United Financial, said: “In the three months that Jack has led People’s United as interim president and CEO, he has clearly demonstrated his strong leadership skills and the ability to execute on our strategy of delivering growth and increasing shareholder value.

“During the past six months Jack also has overseen the very successful conversion of our core banking systems and the process of rebranding all of our northern New England divisions to the People’s United Bank name.”