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Western Alliance COO resigns to take CEO job

PHOENIX (AP) -- Western Alliance Bancorporation said Wednesday that its president and chief operating officer has resigned to take a job as a CEO at a publicly traded company outside of the banking industry.

Kenneth Vecchione's departure is effective April 5. Western Alliance didn't identify the company he was joining.

Vecchione will remain a Western Alliance director and will continue to serve as chairman of its finance and investment committee and as vice-chairman of Bank of Nevada, the company said.

Phoenix-based Western Alliance operates banks in Nevada, Arizona and California. Its shares rose 16 cents, of 1.1 percent, to $14.42 in morning trading Wednesday.