WATERBURY, Conn., Oct. 28, 2015 /PRNewswire/ -- Webster
Financial Corporation (NYSE: WBS), the holding company for
Webster Bank, N.A., today announced
that its board of directors promoted John R. Ciulla to
president of the bank and the bank holding company and appointed
him to the bank's board of directors. In addition, the board
appointed Joseph J. Savage to
executive vice chairman of the bank and the bank holding company.
Both report to James C. Smith,
chairman and chief executive officer.
In his new role, Ciulla, previously executive vice president and
head of Commercial Banking, will add reporting responsibilities for
Community Banking, Webster Private Bank, and Marketing.
"John's promotion to president recognizes his outstanding
leadership and Commercial Banking's consistently strong
performance," said Smith. "As head of the unit, he has
continued Commercial Banking's growth trajectory, driving strong
revenue growth, earning in excess of the unit's cost of capital,
maintaining strong asset quality, expanding Webster's commercial
banking footprint, and developing his strong management team."
Savage, formerly president, retains oversight of Human Resources
and directly oversees the bank's programs for leadership
development, incentive compensation, and employee engagement. He
will continue to serve as a member of the bank's board.
Smith said, "As president, Joe has contributed mightily to our
progress toward our goal of becoming the highest performing
mid-size bank in the country as measured by financial performance,
customer satisfaction, and growth in key segments. He will continue
to work closely with me in formulating strategy and will lead key
external client initiatives."
Ciulla joined Webster in 2004 as senior vice president for
middle market banking and has served in a variety of management
positions with increasing responsibility, including as chief credit
risk officer from 2008 to 2010. As executive vice president and
head of middle market banking from 2011 to 2013, he was responsible
for several business units prior to his January 2014 promotion to lead Commercial
Banking.
Prior to joining Webster, Ciulla worked at The Bank of
New York where he was most
recently managing director. He practiced law in New York as an associate with McDermott Will & Emery and with Hughes
Hubbard. He serves on the board of the Connecticut Business and
Industry Association. Ciulla earned his bachelor's degree in
political science and history from Williams
College, his MBA from the Columbia
Business School, and his law degree from Fordham University School of Law.
Savage joined Webster in 2002 as executive vice president
and head of Commercial Banking. He was promoted to president and
appointed to the bank's board of directors in January
2014. Prior to joining Webster, Savage was executive vice
president of the Communications and Energy banking group for CoBank
in Denver, Colorado.
Savage serves as a director of the MetroHartford Alliance and
the Travelers Championship Committee. He serves on the boards of
The Bushnell and the Connecticut Bankers Association. He chaired
the 2013-14 Campaign for United Way of Central and Northeastern
Connecticut. He earned his bachelor's degree from Manhattan College and his MBA from Seton Hall University.
Webster Financial Corporation is the holding company for
Webster Bank, National Association.
With $24.1 billion in assets, Webster
provides business and consumer banking, mortgage, financial
planning, trust, and investment services through 163 banking
centers, 316 ATMs, telephone banking, mobile banking, and the
Internet. Webster Bank owns the
asset-based lending firm Webster Business Credit Corporation; the
equipment finance firm Webster Capital Finance Corporation; and HSA
Bank, a division of Webster Bank,
which provides health savings account trustee and administrative
services. Webster Bank is a member
of the FDIC and an equal housing lender. For more information about
Webster, including past press releases and the latest annual
report, visit the Webster website at www.websterbank.com.
Media
Contact
|
Investor
Contact
|
Bob Guenther,
203-578-2391
|
Terry Mangan,
203-578-2318
|
rguenther@websterbank.com
|
tmangan@websterbank.com
|
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SOURCE Webster Financial Corporation