Western Alliance Bancorporation (NYSE: WAL) announced that Kenneth A. Vecchione, the company's president and chief executive officer, has been appointed chairman of its board of directors, effective June 10, 2026.

Vecchione succeeds Bruce Beach, who will continue serving as a director and return to the role of lead independent director, a position he held from 2010 to 2022.

Vecchione was appointed CEO in April 2018 after rejoining the company in July 2017 as president. He has served as a director of Western Alliance for 19 years and has worked in executive roles at large financial institutions for 36 years.

"Ken has led the company through a number of important milestones in the company's history during the past eight years as CEO and in two separate tenures as President," Beach said in a statement. "His stewardship has been instrumental in navigating our growth from a small, regionally focused bank to one of the largest commercial banking companies in the U.S."

Don Snyder, chair of the board's nominating and corporate governance committee, said the independent directors have confidence in Beach's ability to provide oversight in his return to the lead independent director role.

Western Alliance Bancorporation is the parent company of Western Alliance Bank and reports having over $90 billion in assets with offices nationwide. The information was provided in a company press release.