Webster builds private bank

By Michael Souza
PBN Staff Writer

WATERBURY, Conn. - Webster Bank has launched a full-service private bank to build on its more than 76 years of experience and its reputation for superior service for the unique needs of high net-worth individuals. Webster Private Bank offers customized one-stop, full-service financial solutions and being marketed as a natural extension of Webster’s stated longtime mission to help customers reach their financial goals.

“The principles that guided my father when he founded the bank are still with us,” said Jim Smith, chairman and CEO of Webster Bank. “At Webster, we respect the confidence our customers place in us. We strive to fulfill our responsibility to do right by them. We say its part of our DNA or our ‘Type W Personality.’ Webster Private Bank will up that a notch, providing comprehensive solutions and resources from a local team who you know and trust.”

Webster Private Bank was featured in a special section in the edition of Forbes Magazine which hit newsstands last week.

Webster Private Bankers will work with individuals, businesses or nonprofits with $1 million or greater in investible assets. To deliver on service quality and customer satisfaction expectations, the bank says private bankers will work in seven regional teams throughout the four-state footprint that now stretches from Westchester County, N.Y., through Connecticut and to Rhode Island and Boston.

Products and services to be offered include:

• Customized credit products - Specialized credit card, mortgages and collateralized loans

• Premium banking services - Premier checking with no access fees for ATMs anywhere and money market accounts with preferred rates

• Investment management - Objective investment selection, asset allocation, and portfolio management

• Trust and estate - Transfer planning, conservatorship, securities custody and special asset management

• Philanthropic - Giving strategies and planned giving

• Financial planning - Cash flow, debt management, tax planning and retirement goals