Western Alliance Bancorporation Details Timing for CEO Role Transition in 2018
December 13 2017 - 6:00PM
Business Wire
Additional Senior Leadership Promotions
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20171213006210/en/
Western Alliance BancorporationMedia Contact:Robyn Young,
602-346-7352SVP, Director of Marketing &
CommunicationsorInvestors Contact:Dale Gibbons, 602-952-5476Chief
Financial Officer
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