Webster Financial (WBS) in Waterbury, Conn., has promoted Joseph Savage to president.
Savage will oversee Webster's commercial and private banking in the new role, which will become effective Jan. 1. He succeeds Gerald Plush, who resigned in September to take another job.
Savage, 60, had been head of commercial banking, the $20.6 billion-asset Webster said. He joined the company in 2002; previously, he worked for the Bank of New York.
"This promotion recognizes [Savage's] contributions toward building commercial banking into the fast-growing, high-performing business segment it is today," James Smith, Webster's chairman and chief executive, said in a press release. "In his 11 years at Webster, [Savage] and his team have grown commercial banking to the point that it now accounts for more than half of our total loan portfolio and half of Webster's net income."
John Ciulla, Webster's head of middle-market banking, will succeed Savage as head of commercial banking, effective Jan. 1. Webster named a new head of personal banking in August.