Western Alliance Bancorporation Announces Two Retirements from Board of Directors
April 07 2022 - 4:40PM
Business Wire
Sarver and Hilton have served on the Board
since 2002
Western Alliance Bancorporation today announced that Robert
Sarver and Steve Hilton will be retiring from their respective
roles as Executive Chairman and Director of the Board of Directors
of the company and its principal subsidiary, Western Alliance Bank.
Their Board terms will end at the company’s annual meeting of
stockholders in June. Sarver has served as a director on the Board
since 2002 and as Executive Chairman since March 2018, while Hilton
has served as a director since 2002.
Sarver’s dynamic leadership as the company’s former Chief
Executive Officer (2002--March, 2018) was a catalyst for much of
Western Alliance’s industry leading growth and strong financial
performance over the past two decades. During his tenure, the
company grew to more than $50 billion in assets and has been
consistently ranked as one of the top performing banks by Forbes,
Bank Director Magazine, and S&P Global. In 2016, Sarver
received the Distinguished Service Award from the Greater Phoenix
Economic Council, and in 2017 he was recognized by International
Banker as Banking CEO of the Year.
“It has been an honor to serve as Executive Chairman of Western
Alliance Bancorporation. I want to offer my sincere appreciation to
our employees, whose hard work and dedication have allowed us to
achieve so much during my 20 years at the company," said Robert
Sarver. "With the company well positioned for continued success and
growth, the time is right for me to begin a new chapter. I will
always cherish and be grateful for the experiences I have had and
the relationships I have made during my time at Western Alliance. I
have the utmost confidence in the executive team and the oversight
of our highly experienced and capable Board moving forward.”
Western Alliance Bancorporation Chief Executive Officer and
President Kenneth A. Vecchione said, “Robert’s vision and
leadership made the remarkable success of Western Alliance
possible. Robert was honest, transparent, and led the company with
integrity throughout his time as a colleague and as a friend to
many of us. In navigating some of the most challenging economic
conditions of the last two decades, including the Great Recession,
Robert’s stewardship allowed the company to support tens of
thousands of customers and employees who rely on us every day. We
will miss Robert’s keen insights and decades of experience and we
are deeply thankful for his service. Steve’s contributions to our
Board included, among other things, valuable real estate insight
that helped grow our company in the region and across the United
States. We wish him well as he pursues other ventures.”
“Western Alliance would not be in the position it is today
without the contributions of Robert Sarver,” said Western Alliance
Bancorporation Lead Independent Director Bruce Beach. “Robert’s
leadership and relationship with customers, colleagues, regulators
and shareholders has driven our success and the growth of our
service to communities and clients across the country. There is no
doubt in our minds that Robert will continue to contribute to the
industry and the communities so important to him and his family.
While we will miss Robert’s relentless focus on expansion,
innovation, and the customer experience, which has been so
important to our success, we remain extraordinarily confident in
the company’s leadership team, management, and culture from top to
bottom.”
Beach added that Hilton, one of the company’s longest tenured,
most active directors, “helped see the company through challenging
initial growth phases with keen insight into several industries
crucial to Western Alliance’s successful expansion efforts.”
About Western Alliance Bancorporation
With more than $50 billion in assets, Western Alliance
Bancorporation (NYSE: WAL) is one of the country’s top-performing
banking companies. The company is #2 best-performing of the 50
largest public U.S. banks in the S&P Global Market Intelligence
listing for 2021, ranks high on the Forbes “America’s Best Banks”
list year after year and was named #1 Best Emerging Regional Bank
per Bank Director’s 2022 RankingBanking study. Its primary
subsidiary, Western Alliance Bank, Member FDIC, helps business
clients realize their ambitions with teams of experienced bankers
who deliver superior service and a full spectrum of customized
loan, deposit and treasury management capabilities, including
blockchain-based offerings. Business clients also benefit from a
powerful array of specialized financial services that provide
strong expertise and tailored solutions for a wide variety of
industries and sectors. Serving clients across the country wherever
business happens, Western Alliance Bank operates individual,
full-service banking and financial services brands, including
AmeriHome Mortgage, and has offices in key markets nationwide.
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