Webster Financial Corporation : Richard McDonald Promoted to Senior Vice President at Webster Bank
January 08, 2014 at 03:39 am IST
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Sarah Barr, 203-578-2287 Terry Mangan, 203-578-2318 sbarr@websterbank.com tmangan@websterbank.com
Richard McDonald Promoted to Senior Vice President at Webster Bank
WATERBURY, Conn., January 7, 2014 - Webster Bank, a leading regional bank serving businesses and consumers from metro New York to Boston, Mass., announced today the promotion of Richard McDonald to senior vice president, treasury/wholesale bank manager.
McDonald joined Webster in 2012 as vice president, funding manager, and since then has increased the bank's funding capacity and flexibility. In his new role, McDonald will oversee Webster's investment and bank-owned life insurance portfolios and continue to oversee the wholesale funding portfolio.
"The contributions made by exceptional leaders like Rich have been pivotal in driving Webster's success," said Bruce Wandelmaier, senior vice president, Treasurer at Webster. "I am thrilled for him and I have no doubt that he will continue to play a key role in determining and executing wholesale strategies to improve returns while managing risk."
McDonald is a resident of Scarsdale, N.Y. He earned his Bachelor's Degree in General Engineering from West Point and served in the army for eight years rising to the level of captain. Deeply committed to serving his community, McDonald has been a coach with Girls' AAU basketball.
About Webster
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Webster Financial Corporation is the holding company for Webster Bank, N.A. With $21 billion in assets, Webster provides business and consumer banking, mortgages, private banking, trust and investment services through 169 banking offices; 309 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 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.websterbank.comor follow us on LinkedIn http://linkedin.com/company/webster-bankand Twitter https://twitter.com/WebsterBank.
Webster Financial Corporation is the holding company for Webster Bank, N.A. and its HSA Bank division. The Company's segments include Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment serves businesses with more than two million dollars of revenue through its commercial real estate and equipment finance, business banking, asset-based lending and commercial services, private banking, treasury management and other business units. The HSA Bank segment offers a comprehensive consumer-directed employee benefit and healthcare solution that includes health savings accounts, health reimbursement arrangements, flexible spending accounts, and commuter benefits. The Consumer Banking segment operates a distribution network, throughout southern New England and the New York metro and suburban markets, that comprises approximately 198 banking centers and 349 automated teller machines, a customer care center and a full range of Web and mobile-based banking services.