Webster Bank, a leading regional bank serving businesses and consumers from metro New York to Boston, Mass., announced today the promotion of Richard McDonald to senior vice president, treasury/wholesale bank manager.
McDonald joined Webster in 2012 as vice president, funding manager, and since then has increased the bank’s funding capacity and flexibility. In his new role, McDonald will oversee Webster’s investment and bank-owned life insurance portfolios and continue to oversee the wholesale funding portfolio.
“The contributions made by exceptional leaders like Rich have been pivotal in driving Webster’s success,” said Bruce Wandelmaier, senior vice president, Treasurer at Webster. “I am thrilled for him and I have no doubt that he will continue to play a key role in determining and executing wholesale strategies to improve returns while managing risk.”
McDonald is a resident of Scarsdale, N.Y. He earned his Bachelor’s Degree in General Engineering from West Point and served in the army for eight years rising to the level of captain. Deeply committed to serving his community, McDonald has been a coach with Girls’ AAU basketball.
Webster Financial Corporation is the holding company for Webster Bank, N.A. With $21 billion in assets, Webster provides business and consumer banking, mortgages, private banking, trust and investment services through 169 banking offices; 309 ATMs; telephone banking; mobile banking; and the Internet. Webster Bank owns the asset based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and 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 or follow us on LinkedIn http://linkedin.com/company/webster-bank and Twitter https://twitter.com/WebsterBank.