John R. Ciulla has been appointed president of Webster Bank and its holding company Webster Financial Corp. He replaces Joseph J. Savage who was named executive vice chairman of the bank and the bank holding company.
In his new role, according to a statement, Ciulla, previously executive vice president and head of Commercial Banking, will add reporting responsibilities for community banking, Webster Private Bank, and marketing.
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.
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 from 2008 to 2010. As executive vice president and head of middle market banking from 2011 to 2013, he was responsible for several business units prior to his January 2014 promotion to lead Commercial Banking.
Recently, Webster Financial Corp. posted a small gain in third-quarter profits, paced by ongoing loan and deposit growth. It posted net income after preferred dividends of $49.5 million, or 54 cents a diluted share, up from $47.8 million, or 53 cents a diluted share. Webster Bank recently celebrated its 80th birthday.
