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Webster Financial president to retire

Webster Financial Corporation, the holding company for Webster Bank, has announced that William Bromage will retire from Webster at the end of 2008. Mr Bromage is the president and COO and a director of the corporation and president, COO and vice chairman of the board of the bank.

Mr Bromage joined Webster in 1996 as executive vice president in charge of commercial banking. Soon thereafter as senior executive vice president he was responsible for commercial banking, corporate development, human resources, marketing and corporate internet strategy.

In 2000 Mr Bromage was named president and COO responsible for all of Webster’s lines of business. He was elected to Webster’s boards in 2001.

Webster chairman and CEO James Smith stated that as Webster narrows its strategic focus the role of a president and COO is no longer central to its operating model. Therefore, Mr Bromage will advance his planned retirement from Webster. He will relinquish the positions of president and COO and director in June 2008 and will serve as vice chairman of Webster Bank to advise Mr Smith during the transition period ending in December, 2008.