PHOENIX--(BUSINESS WIRE)--
Western Alliance Bancorporation (NYSE: WAL), one of the country’s
top-performing banking companies, today announced that effective July
10, 2017, Kenneth Vecchione will return to the Company as President.
Kenneth Vecchione will join Robert Sarver, Chairman and CEO, along with
Dale Gibbons, CFO, and Jim Haught, COO, in the executive suite at
Western Alliance.
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Kenneth A. Vecchione returns to Western Alliance as President (Photo: Business Wire)
“This is an exciting time in the growth of our company,” said Sarver.
“Having worked with Ken as a member of our Board of Directors for the
last 10 years, and as the Company’s President from 2010 to 2013, I am
confident that Ken will be a key addition to our team. He is experienced
and capable of eventually transitioning into the role of CEO.”
“I am truly looking forward to rejoining the management team at Western
Alliance,” said Vecchione. “During the last 10 years, I have developed
many relationships in the Company and have a great deal of respect for
the management team. Robert and I have a good working relationship and I
am excited about the future for Western Alliance.”
“In discussions with our Board about succession planning, we all agreed
bringing Ken back was the right move, and, that my eventual transition
from CEO would be to the role of Executive Chairman, where I would
continue to generate new business opportunities and provide leadership
and strategic direction,” added Sarver.
Vecchione was the Company’s President and Chief Operating Officer from
2010 to 2013, when he left to become CEO at Encore Capital Group. Prior
to 2010, Vecchione served as Chief Financial Officer of Apollo Global
Management, LLC, one of the country’s largest private equity firms, and
prior to Apollo he was Vice Chairman and Chief Financial Officer of MBNA
Corporation. Vecchione has been a Director of Western Alliance since
2007.
About Western Alliance Bancorporation
With more than $18 billion in assets, Western Alliance Bancorporation
(NYSE:WAL) is one of the country’s top-performing banking companies and
is ranked #4 on the Forbes 2017 “Best Banks in America” list. Its
primary subsidiary, Western Alliance Bank, is the go-to bank for
business, and succeeds with local teams of experienced bankers who
deliver superior service and a full spectrum of deposit, lending,
treasury management, international banking, and online banking products
and services. Western Alliance Bank operates full-service banking
divisions: Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First
Independent Bank and Torrey Pines Bank. The bank also serves business
customers through a robust national platform of specialized financial
services, including Corporate Finance, Equity Fund Resources, Hotel
Franchise Finance, Life Sciences Group, Mortgage Warehouse Lending,
Public and Nonprofit Finance, Renewable Resource Group, Resort Finance,
Technology Finance and Alliance Association Bank. For more information,
visit westernalliancebancorporation.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170504006538/en/
Western Alliance Bancorporation
Media:
Robyn Young,
602-346-7352
SVP, Director of Marketing & Communications
or
Investors:
Robert
Sarver, 602-952-5445
Chairman and Chief Executive Officer
Source: Western Alliance Bancorporation