Webster Financial Executive Vice Chairman Joseph J. Savage will retire effective June 30, 2017 following a 40-year career in banking, culminating in 15 years at Webster.

Savage joined Webster in April 2002 as executive vice president of commercial banking. He was promoted to president in 2014 and to the board of directors of Webster Bank. He was appointed executive vice chairman in October 2015. He has overseen private banking and human resources, and has developed and guided the bank’s programs for leadership development and employee engagement in recent years.

“Joe has been a cornerstone of Webster Bank’s growth and progress, having made significant contributions on many fronts during his distinguished career, at first in commercial banking and then ever more broadly across Webster. Joe is a steward and champion of our values, known as the Webster Way, and our differentiated culture, and has continually brought them to life for customers and the bankers he leads,” said James C. Smith, chairman andCEO. “Joe’s ceaseless focus on relationship value and his dedication to mentoring future leaders will help keep us ‘strong at the core,’ as Joe would say, for years to come.”

Savage was instrumental in the early growth of Webster’s Commercial Banking business. He guided Webster’s successful entries into Fairfield County in 2002, the Boston market in 2009, and the metro New York City area in 2013.

“Under Joe’s leadership, Commercial Banking has grown five-fold in footings and revenue and is today Webster’s most profitable business,” Smith said.