WATERBURY, Conn., April 21 /PRNewswire-FirstCall/ -- Webster Financial
Corporation (NYSE: WBS) announced today that William T. Bromage will retire
from Webster at the end of 2008. Bromage is president and chief operating
officer and a director of Webster Financial Corporation and president, chief
operating officer and vice chairman of the board of Webster Bank.
Webster Chairman and Chief Executive Officer James C. Smith stated that as
Webster narrows its strategic focus the role of a president and COO is no
longer central to its operating model. Therefore, Bromage will advance his
planned retirement from Webster. He will relinquish the positions of
president and COO and director in June 2008 and will serve as vice chairman of
Webster Bank to advise Smith during the transition period ending in December
of this year.
"Bill has been both a friend and a source of strength to Webster as we
implemented our commercial banking strategy and became a strong regional
competitor in New England," Smith said. "Bill's leadership and wisdom have
been of great value to Webster and to me personally as we have grown, expanded
and advanced our efforts to be New England's bank. His contributions are
widely reflected and appreciated throughout Webster. I look forward to his
continued counsel over the remainder of the year."
Bromage, 62, joined Webster in 1996 as executive vice president in charge
of commercial banking. Soon thereafter as senior executive vice president he
was responsible for commercial banking, corporate development, human
resources, marketing and corporate internet strategy. In 2000 he was named
president and chief operating officer responsible for all of Webster's lines
of business. He was elected to Webster's boards in 2001.
Bromage serves in leadership roles with several Connecticut organizations
and community groups including chairman of Junior Achievement of Southwest New
England and membership on the boards of Connecticut Public Broadcasting,
MetroHartford Alliance, the Greater Hartford Arts Council and the Connecticut
Technology Council.
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, insurance, 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, 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
CONTACT:
Media
Arthur House, +1-203-578-2391, ahouse@websterbank.com
or
Investor
Terry Mangan, +1-203-578-2318, tmangan@websterbank.com