Business Context and Reporting Period
This Form 8-K Current Report was filed by Western Alliance Bancorporation on September 1, 2011. The filing addresses Item 5.02 regarding the appointment of certain officers and changes in compensatory arrangements.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
The primary material change reported is the appointment of J. Kelly Ardrey, Jr., CPA to the position of Senior Vice President and Chief Accounting Officer, effective September 1, 2011. Mr. Ardrey assumes the role of Principal Accounting Officer.
- Previous Incumbent: Susan C. Thompson, CPA, will continue as Senior Vice President and Controller.
- Reporting Structure: Ms. Thompson will now report directly to Mr. Ardrey.
Management Commentary and Background
Management highlights Mr. Ardrey's extensive background, noting he is a Certified Public Accountant with over 20 years of experience in finance and banking. His recent roles include:
- Executive Vice President and Chief Financial Officer of Bank of Nevada (a subsidiary) from September 2008 to August 31, 2011.
- Executive Vice President, Technical Accounting & Derivative at CountryWide Bank from December 2005 to September 2008.
- Previous positions at Fannie Mae, Suntrust Bank, First Union Bank, Sterne, Agee & Leach, Protective Life, and Coopers & Lybrand.
Mr. Ardrey holds a Bachelor of Science in Accounting from Wake Forest University.
Investor Verification Checklist
- Verify the effective date of the new reporting structure between the Controller and the new Chief Accounting Officer.
- Confirm Mr. Ardrey's prior employment dates and roles as stated in the filing.
- Note that this filing contains no financial results; refer to the most recent 10-Q or 10-K for financial metrics.