Chief Financial Officer Named for HSA Bank

WATERBURY, Conn., April 10, 2017

Madar, 55, has more than 30 years of financial services industry experience. He currently serves as chief accounting officer of Webster Bank and Webster Financial Corporation where he oversees corporate accounting functions including corporate tax, regulatory reporting, and accounting policy.

"Greg brings to HSA Bank more than two decades of corporate financial management experience at Webster in corporate tax, merger and acquisitions, regulatory reporting, and accounting policy, along with a deep understanding of Webster's strategic and financial priorities," said Chad Wilkins, head of HSA Bank. "We are excited to have him join our executive management team, especially as the consumer-directed health industry is experiencing tremendous growth."

Madar will directly report to Wilkins and will continue to have a reporting relationship to Glenn MacInnes, executive vice president and chief financial officer of Webster Financial Corporation and Webster Bank.

In his newly created role, Madar will oversee financial performance analysis, budget and planning, controllership and financial management for HSA Bank.  HSA Bank, which became a division of Webster Bank in 2005, has become one of the nation's largest providers of health savings accounts (HSAs). Managing more than $5 billion in assets, HSA Bank is trusted by more than 35,000 employer groups and more than 2 million members. The addition of Madar to HSA Bank positions the firm well to achieve its mission of inspiring every individual to own their health by making it easy to access, understand, and afford healthcare.

"HSA Bank is one of our highest strategic investment opportunities and Greg's financial acumen and depth of experience will ensure that this specialized financial services business continues to be well positioned to capitalize on industry growth," MacInnes said.