Webster Announces Chief Risk Officer Transition

Daniel Bley to Retire After 14 Years with Company

Company Initiates Search for Successor; Bley to Serve in the Role Until a New CRO is Appointed

STAMFORD, Conn.--(BUSINESS WIRE)--Webster Financial Corporation (NYSE: WBS) (“Webster” or “the Company”), the holding company for Webster Bank, N.A., today announced that after 14 years with the Company, Dan Bley intends to retire from his role as Executive Vice President and Chief Risk Officer (CRO). Mr. Bley will continue to serve as the Company’s CRO until a successor is appointed and will then serve in an advisory role to ensure a smooth transition.

“Dan has been instrumental in driving a strong risk culture at Webster and significantly advancing the risk management programs and capabilities across the company, in support of the bank’s substantial growth," said John Ciulla, Chairman and Chief Executive Officer of Webster Financial Corporation.

“It has been my privilege to work with the Webster Board and executive management team that has always been committed to ensuring a strong risk culture at the bank and investing in risk management personnel, processes and technology necessary to support our growth,” said Bley.

Webster has initiated a comprehensive search process with the support of Russell Reynolds, a leading executive search firm.

About Webster

Webster Bank (“Webster”) is a leading commercial bank in the Northeast that provides a wide range of digital and traditional financial solutions across three differentiated lines of business: Commercial Banking, Consumer Banking and Healthcare Financial Services, one of the country's largest providers of employee benefits and administration of medical insurance claim settlements solutions. Headquartered in Stamford, CT, Webster is a values-driven organization with $79 billion in assets. Its core footprint spans the northeastern U.S. from New York to Massachusetts, with certain businesses operating in extended geographies. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.