WATERBURY, Conn., July 27 /PRNewswire-FirstCall/ -- Webster Financial
Corporation (NYSE: WBS), the holding company for Webster Bank, N.A., announced
today the completion of an organizational review that in part has promoted one
senior executive, and established two new executive positions: chief
administrative officer (CAO) and senior operational risk officer, and
consolidates shared services under the CAO.
Jerry Plush, Webster executive vice president and chief financial officer
since July 2006, is now senior executive vice president and chief financial
officer for Webster Financial Corporation and Webster Bank. Webster's
organizational review also places Plush as a member of both the newly-formed
Office of the CEO with Webster Chairman and Chief Executive Officer James C.
Smith and President and Chief Operating Officer William T. Bromage and the
company's Executive Management Committee.
Jeffrey N. Brown, formerly Webster's executive vice president of
marketing, communications and strategy, has been selected to be CAO, where he
is now responsible for Webster's information technology, operations, human
resources, communications, public affairs, strategic planning, facilities and
internet functions. With the creation of this post, Webster is centralizing
the leadership of critical elements of the company's infrastructure to build
upon its commitment to effective cross-organizational partnerships and a top-
level service culture. Brown, who joined the company in 1996, also is a member
of the company's Executive Management Committee.
Donald A. Cyr, who has been Webster Bank's executive vice president,
General Auditor, is now senior operational risk officer, where he, too, will
report to Smith and is responsible for Webster's operational risk policy,
enterprise risk management, corporate compliance and corporate security
functions. In addition, Cyr has administrative oversight of Webster's audit
function, which reports to the audit committee of Webster's board of
directors. He joined Webster in August 2006.
Webster announced the results of its strategic and organizational review
in its 2007 second quarter earnings report.
Webster Financial Corporation is the holding company for Webster Bank,
National Association and Webster Insurance. With $16.9 billion in assets,
Webster provides business and consumer banking, mortgage, insurance, financial
planning, trust and investment services through 177 banking offices, 334 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 www.websteronline.com.
Contact: Webster Financial Corporation
Media Contact
Clark Finley, 203-578-2287
cfinley@websterbank.com
or
Investor Contact
Jim Sitro, 203-578-2399
jsitro@websterbank.com
SOURCE Webster Financial Corporation
-0- 07/27/2007
/CONTACT: Webster Financial Corporation
Media Contact
Clark Finley, 203-578-2287
cfinley@websterbank.com
or
Investor Contact
Jim Sitro, 203-578-2399
jsitro@websterbank.com /
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/Web site: http://www.websteronline.com /
(WBS)
CO: Webster Financial Corporation
ST: Connecticut
IN: FIN
SU: PER
AP
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1887 07/27/2007 15:12 EDT http://www.prnewswire.com