People's United Bank and Quinnipiac University announce 10-year, $10 million partnership

HAMDEN, Conn., May 24, 2018 /PRNewswire-USNewswire/ -- People's United Bank, one of the largest independent banks headquartered in the Northeast, and Quinnipiac University announced a $10 million partnership today during a joint press conference.

As part of the 10-year agreement, People's United Bank will donate $5 million to Quinnipiac to support two major academic centers in the School of Business. In addition, Quinnipiac's Sports Center will be renamed the People's United Center.

Quinnipiac will match the $5 million donation and move its university-wide banking to People's United for the 10-year term coinciding with the agreement. 

"We are pleased to partner with Quinnipiac, a well-respected university that shares our same commitment to the education and success of our next generation of leaders," said Jack Barnes, CEO of People's United Bank. "What's great about this partnership is that it provides the opportunity to support the high-caliber educational programs offered by Quinnipiac's School of Business as well as the university's nationally recognized athletics program and the thousands of fans it draws each year." 

Quinnipiac President John L. Lahey said, "This sponsorship with People's United will benefit the entire university community as well as the tens of thousands of fans who attend our Division I men's and women's ice hockey and basketball games each year. In addition, People's United Bank's support of two of our most prominent centers in the School of Business will improve the educational opportunities for our current students as well as the alumni and community members who take part in the many high-quality programs each center offers."

The People's United Center for Innovation and Entrepreneurship strives to support the entrepreneurial spirit at Quinnipiac. The People's United Center for Women and Business serves women focused on achieving their professional goals.

"Partnering with Quinnipiac was a natural fit for People's United Bank," said Jeff Tengel, President of People's United. "We're a local institution. And like Quinnipiac, our reach extends throughout the Northeast. We work here. We invest in businesses and institutions here. I believe that it's our shared focus around small business entrepreneurship, career development and the advancement of women in business, that will make this relationship really take off. We look forward to sharing our collective knowledge with the many students who will go on to be successful employees, entrepreneurs and positively contribute to our local communities."

SOURCE Quinnipiac University