Webster Appoints James P. Bush to Board of Directors

Rhea-AI Summary

Webster Financial Corporation (NYSE: WBS) has appointed James P. Bush to its board of directors, where he will also serve on the Risk Committee. Bush brings extensive experience from American Express, where he held senior positions, including President of Global Network and International Consumer Services. His leadership contributed to the division's rapid growth and customer satisfaction accolades. Webster, with $31.7 billion in assets, aims to leverage Bush's expertise to enhance its strategic direction amid dynamic consumer trends.

Positive

• Appointment of James P. Bush expected to enhance board expertise.
• Bush's experience in global service strategy may lead to improved customer satisfaction.

Negative

• Potential concerns about continuity due to leadership changes.

WATERBURY, Conn., June 17, 2020 /PRNewswire/ -- Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A. and its HSA Bank division, is pleased to announce the appointment of James P. Bush to its and Webster Bank's board of directors.  He will serve on the Risk Committee for both boards.

Mr. Bush, 62, most recently served as Senior Advisor to the Chairman and CEO at American Express Company before his retirement in 2018.  Prior to that, he served as President of Global Network and International Consumer Services (GNICS), which includes consumer business outside the U.S. and all global bank partnerships in 130 countries and territories. Under his leadership, GNICS became one of the fastest growing divisions of American Express and earned eight consecutive J.D. Power & Associates awards for highest customer satisfaction among U.S. card companies.

During his years with American Express, Mr. Bush served in other operating and executive capacities of increasing responsibility including Chief Operating Officer of American Express Centurion Bank, Executive Vice President and General Manager for Strategic Alliances Group, Regional President for Japan/Asian Pacific/Australia and Singapore, Executive Vice President of U.S. Service Delivery, and Executive Vice President for World Service. 

"Jim's expertise in global service strategy and customer service innovation makes him a valuable addition to our board," said John R. Ciulla, Chairman, President and CEO of Webster and Webster Financial Corporation. "His deep knowledge and understanding of dynamic consumer trends will be invaluable to us as we continue to deliver on the Webster vision."

Mr. Bush holds a Bachelor of Science in Accounting from Rider College, where he is an inaugural member of the College of Business Administration Hall of Fame, and completed graduate studies in Business Administration (Finance) from DePaul University. He is a member of the Global Policy Forum at Penn State University; and is a member of the Board of Trustees of Rider University, Lawrenceville, New Jersey, and of the Valley Health System in Northern New Jersey. He also serves on the Board of Directors of American Express Global Business Travel Jersey Co. Ltd.

About Webster
Webster Financial Corporation is the holding company for Webster Bank, National Association and its HSA Bank division. With $31.7 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust, and investment services through 157 banking centers and 308 ATMs. Webster also provides mobile and online banking. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and HSA Bank, a division of Webster Bank, which provides health savings account trustee and administrative services. 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.

Media Contact:	Investor Contact:
Alice Ferreira, 203-578-2610	Terry Mangan, 203-578-2318
acferreira@websterbank.com	tmangan@websterbank.com

 

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SOURCE Webster Financial Corporation

FAQ

Who is James P. Bush appointed to WBS board?

James P. Bush is a former Senior Advisor at American Express with a robust background in global consumer services and financial strategy.

What role will James P. Bush have at WBS?

Bush will serve on both Webster Financial Corporation's and Webster Bank's board of directors, specifically on the Risk Committee.

How might Bush's appointment impact WBS?

Bush's expertise in customer service and strategic growth could enhance Webster's operations and adaptability to consumer trends.

What is Webster Financial Corporation's asset size?

Webster Financial Corporation has total assets of $31.7 billion.