Joseph Maxwell

Bridgeport-based People’s Wealth Management & Trust has named Joseph Maxwell its new chief investment officer. In his new role, Maxwell will oversee a team of portfolio managers who invest the more than $1 billion in assets under management with People’s Wealth Management & Trust.

Maxwell joins People’s from Christiana Bank & Trust Co. in Greenville, Del., where he served as chief investment officer. Prior to joining Christiana Bank & Trust Co., Maxwell was with PNC Bank, Wachovia Bank and the Meridian Investment Management Co. Early in his career, Maxwell worked with both the Merrill Lynch and Paine Webber brokerage houses.

A graduate of Yale University with a bachelor’s degree in economics, Maxwell earned a master’s degree in public management from Carnegie Mellon University. He is a chartered financial analyst.

Maxwell will be relocating to Connecticut with his wife and two daughters.

Founded in 1842, People’s Bank is one of Connecticut’s largest banks, with assets of $11 billion, more than 240 ATMs and 153 branches, 70 of which offer seven-day banking in Super Stop & Shop locations across the state. A diversified financial services company, People’s provides consumer, commercial, insurance, brokerage, financial advisory and trust services to personal and business banking customers.

Simsbury Supports Katrina Cause

The Simsbury Bank is supporting the Valley Brook Community Church in its youth mission project to assist in the reconstruction of homes damaged or lost to Hurricane Katrina.

Christine Gates, the bank’s Granby branch manager, presented the bank’s donation of $800 to the church to send eight high school students and three adult leaders to the area during spring break. During that week in New Orleans and Mississippi, the students will provide hands-on assistance to reconstruction, demolition and other help to those affected by the storm.

The church and its youth want to do their part to continue the flow of aid that devastated region, which will need assistance for a long time to come. Bank officials said they admire the students for undertaking the project.

Roy Joins Rockville Bank

James Roy recently joined Rockville Bank as direct auto lending specialist, according to William J. McGurk, president and chief executive officer of the bank.

Roy joins Rockville Bank with more than 20 years of experience in the auto industry. During the past 12 years, he held the position of general sales manager at two area new-car dealerships. Prior to that, he was the senior financial sales representative for Chrysler Financial.

Roy resides in Feeding Hills, Mass., with his wife, Paula, and three children, Bryan, Jenna and Elise.

Rockville Bank is an 18-branch community bank in Connecticut that strives to provide a convenient banking lifestyle for the communities it serves Coventry, Rockville, Vernon, Ellington, Tolland, Manchester, East Hartford, South Windsor, East Windsor, Suffield, Enfield, Somers, Glastonbury and South Glastonbury. It has four supermarket locations open seven days a week.

Open Solutions Releases Feature

Glastonbury-based Open Solutions Inc., a provider of integrated enabling technologies for community financial institutions in the United States and Canada, announced the release of its Security Matrix Two-Factor Authentication feature, which will be offered to client financial institutions as an optional security add-on to the Internet Banking application (e-Commerce Banker). Provident Savings Bank, the $1.5 billion wholly owned subsidiary of Provident Financial Holdings, recently completed its beta test and will begin rolling it out to its customers in April.

“Regulators are requiring all financial institutions to use multifactor authentication, layered security or other controls appropriate to the level of risk by December 2006,” said Lil Brunner, chief information officer and senior vice president of Provident Savings Bank. “We were excited that Open Solutions developed a solution this quickly. It’s very important for us to protect our customers’ accounts, and we really feel the need for another layer of protection – especially for Internet banking. We volunteered to test Security Matrix as soon as Open Solutions offered it.”