The board of directors of publicly traded Webster Financial Corp., the Waterbury-based holding company for Webster Bank N.A. with more than $24 billion in assets, has promoted John R. Ciulla to president of the bank and the bank holding company and appointed him to the bank”™s board.
The board also appointed Joseph J. Savage to executive vice chairman of the bank and the bank holding company. Both report to James C. Smith, chairman and CEO.
Webster has 163 banking centers, including in Fairflied and Westchester counties, and 316 ATMs.
- John Ciulla
Ciulla was previously executive vice president and head of commercial banking. He now assumes reporting responsibilities for community banking and marketing and for Webster Private Bank.
“John”™s promotion to president recognizes his outstanding leadership and commercial banking”™s consistently strong performance,” Smith said. “As head of the unit, he has continued commercial banking”™s growth trajectory, driving strong revenue growth, earning in excess of the unit”™s cost of capital, maintaining strong asset quality, expanding Webster”™s commercial banking footprint and developing his strong management team.”
Savage, formerly president, retains oversight of HR and will oversee the bank”™s programs for leadership development, incentive compensation and employee engagement. He will continue to serve as a member of the bank”™s board.
Smith said, “As president, Joe has contributed mightily to our progress toward our goal of becoming the highest performing midsize bank in the country as measured by financial performance, customer satisfaction and growth in key segments. He will continue to work closely with me in formulating strategy and will lead key external client initiatives.”
Ciulla joined Webster in 2004 as senior vice president for middle-market banking and has served in a variety of management positions with increasing responsibility, including as chief credit risk officer. He took over as head of commercial banking last year. He worked in banking in New York City before joining Webster and also practiced law in New York as an associate with McDermott Will & Emery and with Hughes Hubbard. He serves on the board of the Connecticut Business and Industry Association, commonly called the CBIA, based in Hartford.
Savage joined Webster in 2002 as executive vice president and head of commercial banking. He was promoted to president and appointed to the bank”™s board of directors in January 2014.
Webster Financial Corp. reports $24.1 billion in assets. It provides business and consumer banking, mortgage, financial planning, trust and investment services.
