People’s United Bank, a subsidiary of $1.2 billion People’s United Financial, has hired Chantal Simon as executive vice president and chief risk officer. Simon will be a member of the bank’s management committee and report directly to President and CEO Philip Sherringham.

Simon, who joins People’s United Bank after 20 years at Merrill Lynch, most recently served as chief risk officer and head of risk management for the firm’s U.S. regulated bank businesses. In this role she was responsible for credit risk management, market risk management, and credit review, and also had significant involvement with the banks’ regulators. Simon began her career at Merrill in investment banking in fixed-income origination and also has worked in mergers and acquisitions/restructuring and loan portfolio management groups at the firm.