BOSTON, May 10 /PRNewswire/ -- Sovereign Bank is sponsoring a series of
"Perspectives on the Insurance Industry" seminars for insurance companies
throughout the Northeast U.S. The next seminar will be held at the Fairmont
Copley Hotel in Boston on May 12, 2006, from 7:30 a.m. to 9:30 a.m. This
event will include live demonstrations of Sovereign's Onsite Check
Deposit(TM) service and Interactive Reporting & Initiation Services (IRIS).
Onsite Check Deposit allows businesses to make deposits directly from
their office by scanning checks received from their customers and
electronically transmitting the images to Sovereign, where they are
processed through the clearing system. IRIS provides businesses with online
access to cash management information, transaction initiation, and a host
of other capabilities such as online images, Positive Pay, and stop
payments.
"Sovereign's insurance seminars provide a forum for insurance
professionals to discuss current financial issues affecting the insurance
industry and share best practices," said Mark Gallivan, director of
Sovereign's Financial Institutions Group. "We were delighted to have Joyce
Sharaf, a renowned speaker nationwide, share an insider's view on the
ratings process, and Steve Andrews from Sovereign Bank present his economic
views at our first seminar. We also look forward to the May event, which
will be held during the annual TMANE conference."
Presidents, treasurers and CFOs from 15 insurance companies throughout
eastern Massachusetts attended the April luncheon held at the Boston
Marriott in Quincy, Mass. Speaking at this first event were Sharaf, senior
industry analyst at A.M. Best, and Andrews, vice president of Capital
Markets at Sovereign. Sharaf, who joined A.M. Best to structure the
company's debt rating initiative, covered topics ranging from the rating
process to key rating issues facing the entire industry. Andrews, who has
more than 20 years of capital markets experience, discussed factors
contributing to the current economic outlook.
To learn more about or attend Sovereign Bank's "Perspectives on the
Insurance Industry" seminars, please contact Nancy Fuller, senior vice
president of Sovereign's Financial Institutions Group, at 1.617.346.7443 or
nfuller@sovereignbank.com.
About Sovereign
Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent
company of Sovereign Bank, a pro forma $83 billion financial institution
with nearly 800 community banking offices, over 2,000 ATMs and
approximately 12,000 team members with principal markets in the Northeast
United States after giving effect to the Independence acquisition and
recently announced branding agreement in which Sovereign ATMs will be
placed in CVS/pharmacy locations. Sovereign offers a broad array of
financial services and products including retail banking, business and
corporate banking, cash management, capital markets, wealth management and
insurance. Sovereign is the 18th largest banking institution in the United
States. For more information on Sovereign Bank, visit
http://www.sovereignbank.com or call 1-877-SOV-BANK.
SOURCE Sovereign Bank
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Related links:
http://www.sovereignbank.com
CONTACT:
Ellen Molle of Sovereign Bank,
+1-617-757-5573, Cell +1-617-548- 9932, or
emolle@sovereignbank.com
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