Webster Names John R. Ciulla as President
Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A., today announced that its board of directors promoted John R. Ciulla to president of the bank and the bank holding company and appointed him to the bank's board of directors. In addition, the board appointed Joseph J. Savage to executive vice chairman of the bank and the bank holding company. Both report to James C. Smith, chairman and chief executive officer.
In his new role, Ciulla, previously executive vice president and head of Commercial Banking, will add reporting responsibilities for Community Banking, Webster Private Bank, and Marketing.
"John's promotion to president recognizes his outstanding leadership and Commercial Banking's consistently strong performance," said Smith. "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 Human Resources and directly oversees 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