PROVIDENCE, R.I., February 2, 2015 -- Webster Bank, a leading regional bank in the northeast, has named Xay Khamsyvoravong, of Providence to a new position, vice president, head of municipal lending. In this role, he will be responsible for developing the extension of credit to municipalities across the Bank’s northeast footprint and extended mid-Atlantic region.
Khamsyvoravong joined Webster in 2012 as vice president of Webster’s municipal advisory group, which advised clients of over sixty cities, towns and school districts on the financing for the construction of roads, municipal buildings, schools and other public infrastructure.
Before joining Webster, Khamsyvoravong worked in Manhattan for Morgan Stanley’s public finance investment banking group. Prior to that, he served as deputy chief of staff to the Rhode Island General Treasurer, working to help the state navigate the financial crisis. Over the course of his career he has advised and executed more than $1 billion in public finance transactions.
"Given his depth of knowledge and experience as a leader in government, a former municipal advisor, and reputable banker, we are excited to have Xay leading Webster’s Municipal Lending Group," said Tony Picano, senior vice president and director of government and institutional banking at Webster Bank. "As municipalities emerge from the economic challenges of the past few years and begin to rebuild aging infrastructure, having Xay lead this vital initiative demonstrates Webster's commitment to ensuring they have the financing to get the job done."
Khamsyvoravong, a Barrington native, earned his bachelor’s degree in international relations from Brown University and a master’s degree from Brown University’s Taubman Center for Public Policy. He is a past recipient of undergraduate fellowships from Yale Law School’s Arthur Liman Public Interest Fund and Harvard Law School’s Bernard Koteen Office of Public Interest Advising. In 2014 he was named one of Providence Monthly’s “Top Ten to Watch.” He is the current chairman of Providence Water, one of the largest water utilities in the northeast, and serves on the Rhode Island non-profit boards of the Center for Southeast Asians and Girls on the Run.
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About Webster:
Webster Financial Corporation is the holding company for Webster Bank, National Association. With $22.5 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 164 banking centers, 313 ATMs, telephone banking, mobile banking, and the Internet. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and HSA Bank, a division of Webster Bank, which provides health savings account trustee and administrative services. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster
website at www.websterbank.com.
Media Contact: Brenda F. Greene (401) 228-2083
bgreene@websterbank.com