WATERBURY, Conn., June 26, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Webster Financial
Corporation (NYSE: WBS) announced today expanded roles for certain members of
its executive team effective at the end of June as William T. Bromage prepares
to step down as president and chief operating officer. Webster's chairman and
Chief Executive Officer, James C. Smith, will add the title of president.
Senior Executive Vice President and Chief Financial Officer Gerald P.
Plush will assume additional duties as chief risk officer with oversight for
both operational and credit risk matters, with the latter function also
reporting indirectly to Mr. Smith.
Smith stated: As we continue to execute our strategic plan and begin
implementation of our OneWebster earnings optimization program, coordination
of risk management will complement the work of the chief financial officer.
To assist Plush with Webster's accounting duties, Senior Vice President
Douglas O. Hart has been named principal accounting officer for both Webster
Bank and Webster Financial Corporation, reporting to Plush.
Executive Vice President Michelle M. Crecca has been appointed chief
marketing officer reporting to the chairman and CEO. Crecca joined Webster in
2006 as head of consumer lending where she oversaw new originations, portfolio
management and collections. In her new duties Crecca will lead all of
Webster's marketing activities including branding, market research, database
marketing, product development and the Internet. In welcoming Crecca to her
new responsibilities Jim Smith said: I am delighted that Michelle will bring
her experience, talent and energy to this critical challenge as we realize our
vision to be New England's bank.
Webster Financial Corporation is the holding company for Webster Bank,
National Association. With $17.2 billion in assets, Webster provides business
and consumer banking, mortgage, financial planning, trust and investment
services through 181 banking offices, 484 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. Member
FDIC and equal housing lender. For more information about Webster, including
past press releases and the latest annual report, visit the Webster website at
www.WebsterOnline.com.
SOURCE: Webster Financial Corporation
http://www.websteronline.com