Webster Private Bank is ramping up its investment management capabilities.
The wealth management arm of Waterbury, Conn.-based Webster Bank has added two senior portfolio managers to its investment management team.
Edward Wilson joined from Wells Fargo Bank, where he served as senior vice president of investments, and Robert Maglio rejoined from Peoples United Bank, where he was a senior portfolio manager in its wealth management unit. Both have extensive experience in investing for high-net-worth clients, the bank said.
Wilson and Maglio will report to Yves Cochez, the Belgian native Webster hired last year as chief investment strategist. Wilson will be based in Stamford, while Maglio will be based in Hartford.
We are excited to be adding these two proven investment professionals to our growing team, Cochez said.
Webster Private Bank, launched in March 2012, had $1.8 billion in assets under management at the end of 2013. It is aiming to grow its AUM to $4 billion within the next two to four years, Cochez told Bank Investment Consultant in September.
Expanding our investment management capabilities continues to be a key strategic priority for Webster Private Bank, and we view our ability to attract professionals of this caliber as proof that we are on the right track, Dan FitzPatrick, executive vice president and head of Webster Private Bank, said of the two new hires.