Savage to retire from Webster Bank

WATERBURY >> Webster Financial Corporation (NYSE: WBS), parent of Webster Bank, announced today that Executive Vice Chairman Joseph J. Savage will retire effective June 30 following a distinguished 40-year career in banking, culminating in 15 years of outstanding service to Webster.

Savage joined Webster in April 2002 as executive vice president, Commercial Banking. He was promoted to president in 2014 and to the board of directors of Webster Bank. He was appointed executive vice chairman in October 2015. He has overseen Private Banking and Human Resources, and has developed and guided the bank’s programs for leadership development and employee engagement in recent years.

“Joe has been a cornerstone of Webster Bank’s growth and progress, having made significant contributions on many fronts during his distinguished career, at first in Commercial Banking and then ever more broadly across Webster. Joe is a steward and champion of our values, known as the Webster Way, and our differentiated culture, and has continually brought them to life for customers and the bankers he leads,” said James C. Smith, chairman and chief executive officer.

Savage also has spent considerable time living up to the communities served by the bank. He is chairman of the MetroHartford Alliance, director of the Connecticut Bankers Association, and director emeritus for the Connecticut Business and Industry Association. He is a director of the Travelers Championship Committee, a member of the board of the Bushnell and a previous campaign chair for United Way of Central and Northeastern Connecticut.

Prior to joining Webster, Savage was executive vice president of the Communications and Energy banking group for CoBank in Denver from 1996 to 2002. Earlier in his career, he worked at the Bank of New York. He earned a bachelor’s degree from Manhattan College and an MBA at Seton Hall University.

Joseph Savage