Webster Bank Snags Wealth Executive from Bank of America

Webster Bank has snagged a private wealth management executive from Bank of America to join its team of private bankers.  Al Falco, a 30-year industry veteran, will provide banking, lending, investment trust and planning services to individuals in the Greater Hartford region as well as institutional asset management for middle-market corporations and non-profits, Webster Bank announced Monday.

Falco will join a team of approximately 50 private bankers, Sarah Barr, vice president of External Communications for Webster Bank, said in an email. He will serve as a senior vice president and senior private banker.

Falco is the third person to be added to the team since October.  His appointment follows the recruitment of Daniel FitzPatrick from BNY Mellon Wealth Management to lead the private bank’s team of bankers and financial advisors across the bank’s four-state footprint in New York, Connecticut, Rhode Island and Massachusetts.

At Bank of America, Falco served as senior vice president and private client manager in the Private Wealth Management Division at U.S. Trust, Bank of America’s private wealth management business.  Falco has more than 30 years’ experience in wealth management, according to Webster Bank.

“We are pleased to have Al join us and contribute his knowledge, commitment, and experience to the ranks of our exceptional team of Webster private bankers,” Dan FitzPatrick, executive vice president of Webster Private Bank, said in a statement.

Webster Bank, a subsidiary of Webster Financial Corp., is based in Waterbury, Conn., and has $20 billion in assets.