Webster Pushes to Expand Private Bank

Webster Bank is pressing forward with its plan to expand its newly launched Webster Private Bank:  It has recruited Daniel FitzPatrick from BNY Mellon Wealth Management to lead the private bank as executive vice president. In the newly created position, FitzPatrick will 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, Webster Bank announced Friday.

FitzPatrick has 20 years of experience in the private client business and has held leadership roles at top wealth management institutions, including JPMorgan Private Bank, Citigroup Private Bank, Goldman Sachs Private Wealth Management, and BNY Mellon Wealth Management, where he last served.

“Dan is an accomplished, knowledgeable leader and fiduciary known for collaborating closely with colleagues across business units. His combination of banking experience and investment management expertise makes him the ideal choice for this position,” James Smith, chairman and CEO of Webster Bank, said in a statement.

Since Webster Private Bank launched in March, business has been growing, though staffing has remained “in a similar range,” Sarah Barr, vice president of External Communications for Webster Bank, said in an e-mail. The private bank currently has about 50 people who work in seven regional teams, she said.

The new hire follows the announcement earlier this week that two new members had been added to the private banking team. In May, the bank announced plans for a new private bank office in Greenwich, Conn., in the fourth quarter.

Webster Bank is based in Waterbury, Conn, and has $20 billion in assets.