Webster Financial and Marathon Asset Management to form a joint venture.

Webster Financial, the holding company for commercial bank Webster Bank, and Marathon Asset Management, a global credit manager, agreed to form a joint venture. Financial terms were not disclosed. “This joint venture allows Webster to better serve and support our clientele, while at the same time diversifying our revenue and realizing a greater portion of our Sponsor franchise’s capabilities. “We will be able to offer our clients larger facilities and additional financing solutions alongside the outstanding client experience Webster has always provided. Expanding our capabilities with this venture will have the added benefit of generating asset management income,” John Ciulla, Webster Financial Chairman and CEO.