Webster Bank appointed Abby Parsonnet to executive managing director and head of asset-based lending. In her role, she will oversee the nationwide asset based lending and commercial services teams at Webster, including staffing solutions and factoring. She will report to Chris Motl, president of commercial banking.
“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,” Motl said. “Demonstrating our dedication to these lines of business, I am looking forward to the team accomplishing even more under Abby’s leadership.”
Leading the commercial services team are James Bodie, senior managing director and Neil Wolfe, senior managing director, who will also report to Parsonnet.
Bodie joined the bank as a portfolio manager in the staffing solutions group, a more than 30 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 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. Parsonnet was recognized as one of Crain’s NY Business’ Notable Women in Banking in 2019. She served as senior managing director in corporate finance and restructuring at FTI Consulting. 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 for more than 20 years.
