BUFFALO, N.Y., June 4, 2012 (GLOBE NEWSWIRE) -- First Niagara Risk Management, Inc. (FNRM), the wholly-owned insurance subsidiary of First Niagara Bank and its parent, First Niagara Financial Group, Inc. (Nasdaq:FNFG), today announced the appointment of Kirk L. Jensen as Managing Director and Senior Executive of FNRM.

Jensen's 25-year career in the insurance brokerage industry spans a variety of organizations, from small to large, with a particular emphasis on business production. He joins First Niagara Risk Management from William Gallagher Associates (WGA); regional brokerage based in Boston, where he has served as Senior Vice President, Business Development since 2005. He is credited with leading the formation of WGA's Energy/Clean Technology industry practice and the re-development of the company's Risk Management Practice.

Prior to that, Jensen spent 19 years with Marsh McLennan Companies and its predecessor entity, Johnson and Higgins, where he held a variety of positions including National Practice Leader, Western Region Sales & Industry Practice Leader, Vice Chairman, FINPRO, New York and San Francisco and Global Practice Leader, Financial Products & Institutions Practice. He is a graduate of Harvard College.

"Kirk has a terrific background in many facets of the insurance industry and more importantly he has excelled in each of his roles," said Daniel Cantara, Executive Vice President, and Commercial Services at First Niagara. "His excellent leadership skills and results-oriented style will help us to continue to build this business, which already has a strong foundation."

Thomas Saunders, Managing Director, Financial Services, First Niagara Financial Group, noted, "Kirk is a well-respected insurance brokerage professional who has established himself as a top performer. We look forward to adding Kirk's leadership, strategic skills and demonstrated sales track record to our already strong team."  

Michael Strakhov, who has served as interim Managing Director First Niagara Risk Management, is leaving the company in order to accept a new opportunity with CNA Insurance Companies, as Branch Vice President in Columbus, Ohio.

"Mike has been a highly-respected leader as well as a friend and trusted advisor to his colleagues across the company. We wish him all the best in his future endeavors," said Saunders.

About First Niagara and FNRM

First Niagara, through its wholly owned subsidiary, First Niagara Bank, N.A., is a multi-state community-oriented bank with nearly 430 branches, approximately $38 billion in assets, $29 billion in deposits, and approximately 6,000 employees providing financial services to individuals, families and businesses across Upstate New York, Pennsylvania, Connecticut and Massachusetts.

As one of the top 50 largest business insurance brokers, ranked by Business Insurance Magazine, July 2010, First Niagara Risk Management is uniquely qualified to serve as your risk management partner, helping you protect your enterprise and confidently expand into new products and markets.

For more information, visit www.firstniagara.com. 


CONTACT: Investors:
         Ram Shankar
         Senior Vice President, Investor Relations
         (716) 270-8623
         ram.shankar@fnfg.com

         News Media:
         Helen Tederous
         Corporate Communications
         (716) 819-5922
         helen.tederous@fnfg.com
Source: First Niagara Financial Group, Inc.
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