Letter From Our Executive Chairman
Western Alliance’s long-term strategy is the highest priority of our Board of Directors. Our Board actively works with management to guide and evaluate company strategy, monitor performance against goals and priorities, and adhere to appropriate governance and risk management practices to deliver long-term value to our shareholders. Our Board is pleased with the company’s 2018 financial performance and believes we are well positioned for future success.
The Board reviews corporate strategy at each meeting and evaluates the company’s performance in achieving our strategic priorities. Managing our capital, launching new deposit and loan initiatives, introducing residential mortgages into our loan mix, and de-emphasizing construction and development lending are just some of the strategic priorities undertaken in 2018 with the Board’s oversight and advice.
The Board also continues to focus on long-term succession planning, within both management and the Board itself. At the upcoming annual shareholder meeting in June, two long-term directors will not stand for re-election. Bill Boyd, who has been a director and stockholder of the company since 2002 and was founder of the original BankWest of Nevada, has decided to retire from the Board. In recognition of his unique status as founder, and his long and distinguished service as a director, the Board has appointed Bill to the position of Director Emeritus, effective as of the annual meeting. Cary Mack, who has been a director of the company since 2005, also will step down from the Board following the annual meeting. Cary previously served as Chairman of Torrey Pines Bank. Both Bill and Cary were instrumental to Western Alliance’s success and we thank them for their many years of invaluable service.
Our Nominating and Corporate Governance Committee regularly evaluates the size and composition of the Board to ensure the right mix of industry knowledge, experience and skills to support our strategic direction. This year the Board is pleased to nominate Adriane McFetridge as a new Director. Adriane has been an outstanding executive for a number of high-performing companies and will bring important technology experience to the Board. Going forward, the Governance Committee will continue to balance director continuity with the need for fresh perspectives and diversity.
Our people and our culture remain the key to our success. We prioritize finding, motivating and retaining talent. Supporting skills and career growth helps people become experienced managers and leaders. It’s also important for us to continue developing a deep bench to help serve our clients so they can maximize the full potential of their businesses. The foundation of our success is investing in smart, capable people who have a demonstrated commitment to serving our clients.
In closing, I am very proud of the management team and their accomplishments, and am confident that much future success lies ahead. On behalf of the Board of Directors and management, thank you for your confidence and investment in Western Alliance Bank.
Robert G. Sarver / Executive Chairman of the Board
Western Alliance Bank
The foundation of our success is investing in smart, capable people who have a demonstrated commitment to serving our clients.”