Additional Senior Leadership Promotions
PHOENIX--(BUSINESS WIRE)--
Western Alliance Bancorporation (NYSE: WAL), one of the country’s
top-performing banking companies, today announced that during the first
quarter of 2018 Robert Sarver will transition from Chairman and CEO to
Executive Chairman. In conjunction with Sarver’s change in role, Ken
Vecchione will be promoted to Chief Executive Officer, Dale Gibbons to
Vice Chairman and Chief Financial Officer, and James Haught to President
and Chief Operating Officer, all effective April 1, 2018.
“I look forward to continuing to provide leadership and support to
Western Alliance, albeit in a more strategic way,” said Sarver. “I have
a long history with our executive team and believe this transition will
be positive for the company.”
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements that relate to
expectations, beliefs, projections, future plans and strategies,
anticipated events or trends and similar expressions concerning matters
that are not historical facts. Examples of forward-looking statements
include, among others, statements we make regarding our expectations
with regard to our business, financial and operating results, and future
economic performance. The forward-looking statements contained herein
reflect our current views about future events and financial performance
and are subject to risks, uncertainties, assumptions and changes in
circumstances that may cause our actual results to differ significantly
from historical results and those expressed in any forward-looking
statement. Some factors that could cause actual results to differ
materially from historical or expected results include, among others:
the risk factors discussed in the Company’s Annual Report on Form 10-K
for the year ended December 31, 2016 as filed with the Securities and
Exchange Commission; changes in general economic conditions, either
nationally or locally in the areas in which we conduct or will conduct
our business; inflation, interest rate, market and monetary
fluctuations; increases in competitive pressures among financial
institutions and businesses offering similar products and services;
higher defaults on our loan portfolio than we expect; changes in
management’s estimate of the adequacy of the allowance for credit
losses; legislative or regulatory changes or changes in accounting
principles, policies or guidelines; supervisory actions by regulatory
agencies which may limit our ability to pursue certain growth
opportunities, including expansion through acquisitions; additional
regulatory requirements resulting from our continued growth;
management’s estimates and projections of interest rates and interest
rate policy; the execution of our business plan; and other factors
affecting the financial services industry generally or the banking
industry in particular. Any forward-looking statement made by us in this
release is based only on information currently available to us and
speaks only as of the date on which it is made. We do not intend and
disclaim any duty or obligation to update or revise any industry
information or forward-looking statements, whether written or oral, that
may be made from time to time, set forth in this press release to
reflect new information, future events or otherwise.
About Western Alliance Bancorporation
With more than $19 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/20171213006210/en/
Western Alliance Bancorporation
Media Contact:
Robyn Young,
602-346-7352
SVP, Director of Marketing & Communications
or
Investors
Contact:
Dale Gibbons, 602-952-5476
Chief Financial Officer
Source: Western Alliance Bancorporation