WATERBURY, Conn., Oct 23, 2002 (BUSINESS WIRE) -- Webster Financial Corporation
(NYSE: WBS), the holding company for Webster Bank, announced today that it has
acquired Fleming, Perry & Cox, Inc., a financial planning and investment
services firm, to be part of Webster Financial Advisors.
Terms of the transaction were not disclosed.
Based in Norwalk, Connecticut, Fleming, Perry & Cox, Inc. has been serving
high-net worth clients in the Northeast for more than 15 years. The company
offers financial planning, investment management, risk management and tax and
estate planning services. The acquisition follows the recent appointment of
Bruce E. Wolfe to head Webster's investment businesses and is a major step by
Webster to build a financial planning-based relationship management group for
Connecticut and surrounding markets.
"We are delighted to have Fleming, Perry & Cox join Webster, and we plan to
incorporate their expertise into our client offerings immediately," said Webster
President William T. Bromage. "We see financial planning as the base for
providing sound financial advice to the affluent and high-net worth market."
Since 1987 Fleming Perry & Cox, Inc. has successfully built a unique financial
planning system that addresses the complex needs of high-net worth clients.
Fleming Perry & Cox Partner Dick Fleming said, "We will now be able to provide
clients - both our own and Webster's - with more services and products." Partner
Joe Cox added, "We are enthusiastic about the growth prospects presented by
joining forces with Webster. People are looking for financial advisors who
design sustainable, comprehensive solutions for both good and difficult economic
cycles."
Webster Financial Corporation is the holding company for Webster Bank and
Webster Insurance. With $13 billion in assets, Connecticut-based Webster Bank
provides business and consumer banking, mortgage, insurance, trust and
investment services through more than 108 banking offices, 214 ATMs and the
Internet (www.websteronline.com) Webster Financial Corporation is majority owner
of Chicago-based Duff & Phelps, LLC, a leader in financial advisory services,
and Webster Bank owns Center Capital Corporation, an equipment leasing and
financing company headquartered in Farmington, Connecticut and Webster Trust
Company, N.A.
For more information about Webster, including past press releases and the latest
Annual Report, visit the Webster Bank web site at www.websteronline.com.
CONTACT:
Webster Financial Corporation, Waterbury
Media:
Art House, 203/578-2391
ahouse@websterbank.com
Clark Finley, 203/578-2429
cfinley@websterbank.com
or
Investors:
James M. Sitro, 203/578-2399
jsitro@websterbank.com