Western Alliance Bancorporation appointed Kenneth Vecchione as president, effective July 10, 2017. Vecchione will join Robert Sarver, chairman and CEO, along with Dale Gibbons, CFO, and Jim Haught, COO, in the executive suite at Western Alliance.
“This is an exciting time in the growth of our company,” Sarver said. “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.”
Vecchione was the company’s president and COO from 2010 to 2013, when he left to become CEO at Encore Capital Group. Prior to 2010, Vecchione served as CFO of Apollo Global Management, and prior to Apollo was vice chairman and CFO of MBNA Corporation. Vecchione has been a director of Western Alliance since 2007.
“I am truly looking forward to rejoining the management team at Western Alliance,” Vecchione said. “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,” Sarver added.
With more than $18 billion in assets, Western Alliance Bancorporation operates Western Alliance Bank, Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank and Torrey Pines Bank.