Western Alliance COO Resigns

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Phoenix-based Western Alliance Bancorporation lost a key executive Wednesday, when President and Chief Operating Officer Kenneth Vecchione announced that he will resign from the company effective April 5, to take a chief executive officer job at another company -- a company said to not be in the banking sector at all.

Curiously, even as he ceases work for the company, Vecchione says he will stay on as chairman of the Finance and Investment Committee on Western Alliance's Board of Directors. He will also retain his post as vice-chairman of Bank of Nevada.

It's not known at this time to which company Vecchione will be moving, and the company didn't disclose this information. We should know soon enough, however -- the company in question is said to be "publicly traded" and will have to make an announcement sooner or later. Stay tuned.

The article Western Alliance COO Resigns originally appeared on Fool.com.

Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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