Dive Brief:
- Webster Bank has appointed Jason Schugel as its next chief risk officer and executive vice president, the lender said Tuesday.
- Schugel takes the reins from Daniel Bley, who’s retiring after 14 years with the Stamford, Connecticut-based regional bank.
- Schugel’s tenure at $80 billion-asset Webster begins July 14. Bley will temporarily serve in an advisory role to ensure a smooth transition, the bank said.
Dive Insight:
Last November, Ally said Schugel, who had been the bank’s CRO since 2018, was transitioning to “an interim senior advisor role before leaving the company.” Ally named Stephanie Richard as its next risk chief at that time.
Schugel had also served as chief audit executive and executive director at the Detroit-based lender. Prior to that, he was a vice president at digital marketplace LendingTree, according to his LinkedIn profile.
Webster employed management consulting firm Russell Reynolds in the search, which included internal and external candidates, a bank spokesperson said in April when Bley’s retirement was announced.
As Webster prepares to cross the $100 billion-asset threshold, the bank has sought to bulk up its risk and compliance infrastructure, among other things, and has been hiring with an eye toward strengthening its risk framework and controls, its CIO said earlier this year. That growth also comes with more regulatory reporting and heightened expectations around the use and collection of data.
“Jason’s significant knowledge of governance and risk management will be invaluable as we continue to navigate the regulatory landscape,” Webster CEO John Ciulla said in a news release.
