WATERBURY, Conn., Oct. 6 /PRNewswire-FirstCall/ -- Webster Bank, N.A., a subsidiary of Webster Financial Corporation (NYSE: WBS), announced today the appointment of Nitin J. Mhatre as executive vice president, consumer lending. In his new position, Mhatre will oversee home equity business and secured and unsecured consumer lending activity and new products development.
Mhatre has more than 12 years of experience in consumer finance marketing, sales and product development in the United States, India and Guam. Mhatre joins Webster from CitiMortgage, where he most recently served as the managing director for its home equity retail business. Prior to that position, he served Citi in various capacities, including vice president and director for cards cross-sell, and vice president and director for portfolio management for Citi Home Equity; vice president and country marketing director for Citibank N.A. Guam; and as area sales manager for Citibank Cards in Mumbai, India.
"The breadth and depth of Nitin's experience in consumer finance make him the perfect choice for the responsibilities he will assume at Webster as we pursue our vision to be New England's bank," Webster Chairman and CEO James C. Smith said.
Mhatre has an MBA from Jamanalal Bajaj Institute of Management, Bombay University, India, and a bachelor of engineering degree from Conceicao Rodriguez College of Engineering in Bombay.
Webster Financial Corporation is the holding company for Webster Bank, National Association. With $17.5 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, Conn., 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