WATERBURY, Conn., June 29 /PRNewswire-FirstCall/ -- Webster Financial
Corporation (NYSE: WBS), the holding company for Webster Bank, N.A., announced
the appointment of Gerald P. Plush to be executive vice president and chief
financial officer of Webster Financial Corporation and Webster Bank, reporting
to Chairman and Chief Executive Officer James C. Smith. In this capacity Plush
will be responsible for managing and reporting the financial activities of
Webster and its subsidiaries. He will join Webster on July 5.
Plush will succeed William J. Healy, who joined Webster in this position
in April 2001. During the fourth quarter of 2005, Healy announced his
intention to retire during 2006 and will do so in early August.
"Jerry Plush is a talented, experienced leader who will help Webster
realize its vision to be the leading financial services provider in our
markets," stated Jim Smith. "We anticipate a seamless transition as he joins
the Webster executive team."
Before joining Webster, Plush spent 11 years with MBNA America in
Wilmington, Delaware, most recently as senior executive vice president and
managing director of Corporate Development and Acquisitions. In this position,
he was responsible for the diversification into new lines of businesses and
portfolio acquisitions in both the United States and international markets.
Prior to this position, Plush was senior executive vice president and chief
financial officer for MBNA's North American Operations and was responsible for
the strategic and tactical planning and reporting for MBNA's North American-
based lines of business including U.S. Card, consumer finance and MBNA Canada.
His extensive financial planning and analytic skills will support Webster's
internal and external growth efforts.
Plush previously served as Chief Financial Officer of the U.S. Card line
of business and before that as director of business profitability and strategy
while at MBNA.
Prior to MBNA, Plush was senior vice president and chief financial officer
for Progress Financial. In this role he was responsible for the marketing,
human resources, investor relations, MIS and finance functions of this
publicly traded bank.
Plush earned a B.S. in accounting from St. Joseph's University in
Philadelphia, PA. He is a Certified Public Accountant and a member of the
Pennsylvania Institute of Certified Public Accountants. He serves on the
board of directors of Ronald McDonald House of Delaware and on the board of
trustees for Upland County Day School in Kennett Square, PA.
Webster Financial Corporation is the holding company for Webster Bank,
National Association and Webster Insurance. With $17.9 billion in assets,
Webster provides business and consumer banking, mortgage, insurance, financial
planning, trust and investment services through 159 banking offices, 306 ATMs,
telephone banking and the Internet. Webster Bank owns the asset-based lending
firm Webster Business Credit Corporation, the insurance premium finance
company Budget Installment Corp., Center Capital Corporation, an equipment
finance company headquartered in Farmington, Connecticut and provides health
savings account trustee and administrative services through HSA Bank, a
division of Webster Bank.
For more information about Webster, including past press releases and the
latest annual report, visit the Webster website at
http://www.websteronline.com.
SOURCE Webster Financial Corporation
CONTACT: Media:
Clark Finley, 203-578-2287
cfinley@websterbank.com
or
Investors:
Terry Mangan, 203-578-2318
tmangan@websterbank.com
Web site: www.websteronline.com
(WBS)