Webster Financial Corporation, the holding company for Webster Bank, 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.