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Abby Parsonnet to Lead Nationwide Asset Based Lending and Commercial Services for Webster
October 17, 2022
By Webster Bank
James Bodie and Neil Wolfe, Co-Heads of Commercial Services,
will be reporting to Parsonnet
STAMFORD, CT October 14, 2022 – Webster Bank is pleased to announce that Abby Parsonnet, is now Executive Managing Director, Head of Asset Based Lending (ABL) for Webster Bank. In her role, she will oversee the nationwide Asset Based Lending and Commercial Services teams at Webster, which also includes Staffing Solutions and Factoring. She reports to Chris Motl, President of Commercial Banking.
As head of ABL, Parsonnet will be responsible for continuing Webster’s strong tradition of excellence in delivering customized working capital solutions to middle market clients and sponsors. She will lead a team of bankers based in strategic markets nationwide.
“Abby’s breadth of experience is critical to our goal of driving new business and revenue opportunities and expanding our ABL and Commercial Services businesses,” said Motl. “Demonstrating our dedication to these lines of business, I am looking forward to the team accomplishing even more under Abby’s leadership.”
Reporting to Parsonnet and co-leading the Commercial Services team are James Bodie, Senior Managing Director and Neil Wolfe, Senior Managing Director.
Bodie joined the then-Sterling National Bank, in 2013 as a portfolio manager in the Staffing Solutions group, a 30-plus year old division that specializes in financing and back-office support to the staffing industry. He has more than 20 years of experience in working capital finance, initially in the factoring division of CIT and at Wells Fargo. He is a member of various finance associations including Secured Finance Network and International Factoring Association.
Wolfe joined the then-Sterling National Bank’s 80-year-old Factoring division in 2014 as vice president, account executive. He has more than 20 years in financial services delivering working capital solutions and trade finance to middle market companies and small businesses. He is a board member of the New York chapter of Secured Finance Network, and an active member of the International Factoring Association.
“I am thrilled to work with such talented leaders as Jim and Neil to grow our staffing solutions and factoring businesses in our Commercial Services group,” Parsonnet said.
Parsonnet joined Webster in 2013 as Regional President and quickly grew its New York franchise from the ground up to just under a billion dollars in commitments. In 2018, she further expanded her role by leading Webster’s Sales Council, which has resulted in consistently strong engagement and referral activity supporting our strong sales culture. Parsonnet was recognized as one of Crain’s NY Business’ Notable Women in Banking in 2019.
Prior to coming to Webster, Parsonnet served as senior managing director in corporate finance and restructuring at FTI Consulting. She also spent more than 20 years at JPMorgan Chase where she served as senior vice president and regional manager in a variety of roles, including head of the Textile, Apparel and Jewelry group and as National Head of Remediations within Chase Business Credit.
Webster’s Asset Based Lending division portfolio has $1.6B in outstandings as of June 30, 2022, serving clients across the United States.
About Webster
Webster Bank (“Webster”) is a leading commercial bank in the Northeast that provides a wide range of digital and traditional financial solutions across three differentiated lines of business: Commercial Banking, Consumer Banking and its HSA Bank division, one of the country’s largest providers of employee benefits solutions. Headquartered in Stamford, CT, Webster is a values-driven organization with $68 billion in assets. Its core footprint spans the northeastern U.S. from New York to Massachusetts, with certain businesses operating in extended geographies. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.
Media Contact:
Alice Ferreira, 203-578-2610
acferreira@websterbank.com
Investor Contact:
Emlen Harmon
212-309-7646
eharmon@websterbank.com
