Western Alliance Bancorporation Appoints Two New Board Members

Key Terms

cybersecurity technical

Cybersecurity involves protecting computers, networks, and digital information from theft, damage, or unauthorized access. It is essential for safeguarding sensitive data and maintaining trust in digital systems, which matters to investors because strong cybersecurity reduces the risk of costly breaches and disruptions that can impact a company’s performance and reputation. Think of it as locking and safeguarding valuable information much like securing a safe to prevent theft.

risk management financial

Risk management is the ongoing process of identifying potential events or conditions that could reduce an investment’s value, measuring how likely and how severe those losses could be, and putting controls in place to limit harm—like spreading money across different assets, setting loss limits, or buying insurance. For investors it matters because it turns uncertainty into a manageable plan, helping preserve capital and steady returns much like a seatbelt or a spare tire reduces the downside of unexpected problems.

Chief Risk Officer financial

The chief risk officer is the senior executive responsible for identifying, measuring and reducing the major threats that could hurt a company’s finances or reputation, acting like a navigator who watches for storms and steers the business away from them. Investors care because effective risk oversight lowers the chance of surprise losses, legal fines or operational failures, which helps protect shareholder value and makes a company more predictable and trustworthy.

National Commercial Bank Strategy financial

A national commercial bank strategy is the plan a bank uses to serve customers and grow across an entire country, covering choices about who to lend to, where to open branches or digital services, how to price loans and accounts, and how to manage risk and regulatory rules. For investors, it matters because this blueprint shapes the bank’s revenue growth, expenses, and stability—like a business map that influences future profits, risk of losses, and how much capital the bank will need.

Large Financial Institution financial

A large financial institution is a bank, insurance company, investment firm or similar organization that manages substantial amounts of other people’s money, offers many financial services, and operates across regions or countries. Investors care because these firms influence credit availability, market stability and transaction flows—like a major highway or power plant for the economy—so their health or policy changes can quickly affect asset prices, lending and investor confidence.

Former Chief Risk Officer of Top 25 U.S. Bank and Cybersecurity Expert Join Board

PHOENIX--(BUSINESS WIRE)-- Western Alliance Bancorporation (NYSE: WAL) today announced the appointment of two distinguished leaders to its Board of Directors, adding sizable expertise in the key areas of cybersecurity and risk management as the organization nears the $100 billion asset threshold.

Joining the Board are Dr. Michael Papay, a recognized cybersecurity authority and former head of Technology Risk and Information Security at American Express, and Mr. Clarke Starnes III, former Chief Risk Officer at Truist, one of the nation’s largest banks with more than $500 billion in assets.

“It is a testament to Western Alliance’s powerful momentum and tremendous potential that these two talented leaders have chosen to join our Board at this pivotal time,” said Bruce D. Beach, Board Chairman, Western Alliance Bancorporation Board of Directors. “Their respective experience will help guide Western Alliance as we advance toward crossing the $100 billion asset mark.”

Kenneth A. Vecchione, President, Chief Executive Officer and Director, Western Alliance Bancorporation, added, “As we execute our National Commercial Bank Strategy to achieve ongoing, strong performance for our shareholders and customers, we also continue to thoughtfully prepare our company to become a Large Financial Institution. Both Mike and Clarke have extensive insights and valuable experience to share with our Board and Western Alliance management, and we are very pleased to welcome them to our organization.”

About New Board Members

Dr. Michael Papay: Dr. Papay is a recognized cybersecurity and technology risk expert with an extensive career in defense and financial services. He has led major cybersecurity programs for Fortune 100 companies and advised U.S. agencies including Homeland Security, Defense, the FBI, and the Federal Reserve. Currently, he serves as Advisory Board Chair and Chief Information Security Officer for Rohirrim, an AI company specializing in domain platforms. Previously, he was Executive Vice President, Technology Risk and Information Security at American Express.

“I am excited to join the Board of Directors at Western Alliance, one of the most admired banks in the country with a proven history of being nimble and entrepreneurial, all while taking excellent care of its customers,” said Dr. Papay. “As the organization continues on its well-planned growth trajectory, I look forward to bringing my expertise in technology and cybersecurity forward to benefit the bank and all of its stakeholders.”

Clarke R. Starnes III: Mr. Starnes brings decades of experience in risk, audit, compliance, and regulatory management, as well as corporate strategy and capital planning. He served as Chief Risk Officer at Truist until 2024 and previously served as CRO for BB&T beginning in 2009. Mr. Starnes also served as Vice Chairman of the Board for Truist from 2022–2024. He is recognized as one of the longest-tenured Chief Risk Officers among the top 25 U.S. banks.

Mr. Starnes said, “As a long-standing banking industry executive, I have observed how Western Alliance has continued to deliver impressive growth while continuing to put people, including customers, first. I am eager to contribute my knowledge as a Board member to help the company continue to deliver excellent performance as it continues to scale.”

About Western Alliance Bancorporation

Western Alliance Bancorporation (NYSE:WAL) is one of the country’s top-performing banking companies. Its primary subsidiary, Western Alliance Bank, Member FDIC, is a leading national bank for business that puts customers first, delivering tailored business banking solutions and consumer products backed by outstanding, personalized service and specific expertise in more than 30 industries and sectors. With $90 billion in assets and offices nationwide, Western Alliance has ranked as a top U.S. bank by American Banker and Bank Director since 2016. In 2025, Western Alliance Bancorporation was #2 for Best CEO, Best CFO and Best Company Board of Directors on Extel’s All-America Executive Team Midcap Banks list. For more information on offerings, subsidiaries and affiliates, visit www.westernalliancebank.com or follow Western Alliance Bank on LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251211183186/en/

Investor Contact:

Miles Pondelik

Director, Investor Relations & Corporate Development

602.346.7462

mpondelik@westernalliancebank.com

Media Contact:

Stephanie Whitlow

Chief Marketing Officer

swhitlow@westernalliancebank.com

Source: Western Alliance Bancorporation