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Lynch Takes Top Leadership Role to Propel Growth for This High-Performing, Wholly Owned Subsidiary of Western Alliance Bancorporation

PHOENIX, Arizona – May 6, 2024

Western Alliance Bancorporation today announced the promotion of Jocelyn Lynch to the President and CEO of Western Alliance Trust Company, N.A. Lynch brings tremendous experience to her elevated role, having served previously as Managing Director in the Corporate Trust group at Western Alliance Trust Company, N.A.

"Jocelyn’s deep expertise, unwavering focus on clients and strategic mindset make her a natural choice to lead the Western Alliance Trust Company,” said Dale Gibbons, Vice Chairman and Chief Financial Officer of Western Alliance Bank. “With nearly 20 years of years of high-level experience delivering premier corporate trust services and levered loan administration solutions, she will be an outstanding leader for our trust business, which she helped to start and grow since joining us in 2022.”

As Head of Western Alliance Trust Company, N.A., Lynch will guide the organization’s overall strategy and operations, helping clients to achieve their asset management strategies as a premier, third-party collateral management partner focused on CLO Trustee, Levered Loan Administration and Securities Custody services. Western Alliance Trust Company’s state-of-the-art, proprietary digital platform – built from the ground up to be the best in the industry – is a key differentiator.

“I am so pleased to move into the top leadership role at Western Alliance Trust Company,” said Lynch. “Being part of this terrific organization since the very beginning enables me to state with the utmost confidence that this team, with our deep industry knowledge and commitment to our clients – all supported by our superb technology – delivers a truly superior customer experience. I look forward to growing this business as we continue to do great work for clients and consistently enhance our offerings.”

Previously, as Managing Director in the Corporate Trust group, Lynch oversaw all aspects of the Trust Company business, which includes collateralized loan obligation (CLO) trustee, loan facility administration and custody products. Prior to joining Western Alliance, she spent seven years at Wells Fargo Corporate Trust in a business development role covering the CLO market and 19 years at BNY Mellon in various corporate trust and custody capacities and roles.

Lynch is a seasoned banking executive who has worked in senior-level capacities across multiple business lines. She has a significant background and expertise in the levered loan and custodial markets and services.

 

About Western Alliance Bancorporation

With more than $70 billion in assets, Western Alliance Bancorporation (NYSE:WAL) is one of the country’s top-performing banking companies. Through its primary subsidiary, Western Alliance Bank, Member FDIC, clients benefit from a full spectrum of tailored commercial banking solutions and consumer products, all delivered with outstanding service by industry experts who put customers first. Major accolades include being ranked as a top U.S. bank in 2023 by American Banker and Bank Director and receiving #1 rankings on Institutional Investor's All-America Executive Team Midcap 2023-2024 for Best CEO, Best CFO, Best Company Board of Directors and Best Investor Relations Team. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide.

 

About Western Alliance Trust Company, N.A.

Western Alliance Trust Company, N.A., a wholly owned subsidiary of Western Alliance Bancorporation, is a premier provider delivering corporate trust services and levered loan administration solutions to help customers achieve their asset management strategies. Clients benefit from the team’s deep expertise in levered loan facility administration and loan administration, state-of-the-art, proprietary digital platform and outstanding, personalized attention. Products and services offered by Western Alliance Trust Company are NOT FDIC insured, NOT bank guaranteed and MAY lose value.

 

Media Contact

Alisa Bal
Senior Marketing Director
Contact via email

May 3, 2023

PHOENIX – Western Alliance Bancorporation (“Western Alliance” or the “Bank”) (NYSE: WAL), the holding company for Western Alliance Bank, today issued the following update reaffirming its financial strength as well as its deposit growth guidance in response to recent industry events.

Western Alliance released the following key financial metrics, which reinforce the Bank’s strength, soundness, and stability:

1. Stable Deposits: The Bank has not experienced unusual deposit flows following the sale of First Republic Bank and other recent industry news. Total Deposits were $48.8 billion as of Tuesday, May 2, up from $48.2 billion as of Monday, May 1, and flat to Friday, April 28. Quarter to date, deposits are up $1.2 billion from $47.6 billion as of March 31. Due to normal seasonality within our mortgage warehouse business, mortgage warehouse deposits are lower from April 14 by approximately $700 million, which are rebuilding in a typical fashion and pace. Annual tax payments have also impacted deposit balances quarter-to-date. Therefore, we reaffirm our $2 billion quarter-over-quarter deposit growth rate guidance, as stated on our Q1 2023 earnings call.
2. Insured Deposit Strength: As of May 2, in accordance with regulatory requirements, insured deposits represent over 74% of total deposits, including reciprocal, collateralized, and accounts eligible for “pass-through” deposit insurance. Of our 20 largest deposit relationships, over 88% of these deposits are insured. Liquidity coverage of uninsured deposits from on-balance sheet liquidity and available borrowing capacity was approximately 165%.
3. Balance Sheet Repositioning Actions Remain on Track: The completion of $6 billion of full-year select asset dispositions discussed on our Q1 2023 earnings call remain on track. Of the $3 billion of assets previously identified as contracted to sell, but not closed, $2.1 billion have settled as of today, with the remainder expected to settle in the coming weeks. Asset disposition marks remain within the 2% average mark previously cited.
4. HFI Loan/Deposit Ratio Improvement: HFI Loans-to-Deposits were approximately 95% as of May 2 compared to approximately 98% as of March 31.
5. Strong Capital Base: Western Alliance’s CET1 ratio was approximately 9.7% as of April 30 compared to 9.4% as of March 31. Our Tangible Common Equity-to-Tangible Assets ratio has increased to approximately 6.7% from 6.5% over the same time period. Acknowledging our capital strength, the Board declared our Q2 2023 common dividend of $0.36 per share on May 2, which is unchanged from Q1 2023.

About Western Alliance Trust Company

Western Alliance Trust Company, N.A., a wholly owned subsidiary of Western Alliance Bancorporation, is a premier provider delivering corporate trust services and levered loan administration solutions to help customers achieve their asset management strategies. Clients benefit from the team’s deep expertise in leveraged loan facility administration and loan administration, a state-of-the-art digital platform and outstanding, personalized attention. Products and services offered by Western Alliance Trust Company are NOT FDIC insured, NOT bank guaranteed and MAY lose value.

Media Contact

Alisa Bal
Senior Marketing Director
Contact via email

Growing corporate trust, securities custody and loan administration firm strengthens governance with addition of experienced leaders

January 24, 2023

PHOENIX– Western Alliance Trust Company, N.A., today announced the addition of two new members to its Board of Directors. The two new Board members, effective immediately, are Joseph Giordano and Troy L. Kilpatrick.

"The appointments of Joe and Troy are a meaningful step to enhance the strong governance of Western Alliance Trust Company," said Alex Tsarnas, CEO of Western Alliance Trust Company. "These new members complement the existing board with their skillsets developed in the corporate trust and collateralized loan obligation (CLO) businesses at large financial institutions, which will contribute to the Company's strength at this important stage in its growth."

About New Board Members

Joseph Giordano: Mr. Giordano is a former president of U.S. Bank Corporate Trust & Custody Services, where he managed a revenue stream of more than $1 billion and significantly enhanced the organization's product offerings, client experience, sales and web technology services. He has more than 40 years' experience leading financial services businesses for premier global institutions. Mr. Giordano previously held senior management positions at JPMorgan Chase, Fidelity and Bankers Trust.

Troy L. Kilpatrick: With over 35 years of experience in global financial services, Mr. Kilpatrick is a founding member of Kilpatrick Advisory Services LLC and a former executive vice president and head of Corporate Trust Services and Shareowner Services at Wells Fargo Bank. He held additional responsibility as CEO of Wells Fargo Trust Company, N.A. (f/k/a Wells Fargo Bank Northwest, N.A.) and as the International Responsible Officer for U.S. Regulatory Matters. Prior to Wells Fargo, he served as president of The Bank of New York Mellon Trust Company, N.A., U.S. Corporate Trust executive and Operating Committee member.

Western Alliance Trust Company, which launched earlier this year, provides corporate trust services to clients nationwide. Its dedicated team of industry veterans offers levered loan facility administration, loan administration and securities custody products. It anticipates providing CLO trustee services by mid-2023.

About Western Alliance Trust Company

Western Alliance Trust Company, N.A., a wholly owned subsidiary of Western Alliance Bancorporation, is a premier provider delivering corporate trust services and levered loan administration solutions to help customers achieve their asset management strategies. Clients benefit from the team’s deep expertise in leveraged loan facility administration and loan administration, a state-of-the-art digital platform and outstanding, personalized attention. Products and services offered by Western Alliance Trust Company are NOT FDIC insured, NOT bank guaranteed and MAY lose value.

Media Contact

Alisa Bal
Senior Marketing Director
Contact via email

Experienced team offers corporate trust services, including securities custody services, levered loan facility administration and loan administration CLO Trustee Services to follow in 2023

December 23, 2022

PHOENIX– Western Alliance Trust Company, N.A., today announced that it has begun providing corporate trust services to clients nationwide, delivered by a dedicated team of industry veterans with decades of big-bank securities custody, collateralized loan obligation (CLO) and leveraged loan administration expertise. The company is an affiliate of Western Alliance Bank, one of the country’s top-performing banking companies.

“Western Alliance Trust Company clients will receive high-touch customer service from industry experts, backed by a state-of-the-art technology solution that delivers a best-in-class experience,” said Alex Tsarnas, CEO of Western Alliance Trust Company. “With decades of experience in syndicated loans and credit markets at leading trust banks, our trust team will move quickly and respond to specific transaction requirements to tailor responsive solutions to each client’s needs and goals.”

The Trust Company currently offers levered loan facility administration, loan administration and securities custody products. It anticipates providing collateralized loan obligation (CLO) trustee services by mid-2023.

The company’s significant investment in technology incorporates leading solutions to meet clients’ needs and goals. The company plans to invest in and develop additional technology solutions to enhance its investor portals and prepare for its CLO service offering in 2023.

Experienced Leadership Team

In addition to Tsarnas, the Trust Company is led by two highly experienced industry professionals:

• Jocelyn Lynch, senior director: Lynch, who oversees all aspects of the Trust Company business, is a seasoned banking executive who has worked in senior-level capacities across multiple business lines. She has a significant background and expertise in the levered loan and custodial markets and services. Previously, she spent seven years at Wells Fargo Corporate Trust in a business development role covering the CLO market and 19 years at BNY Mellon in various corporate trust and custody capacities and roles. She is based in Pennsylvania.
• Tammy Bliek, senior vice president: Bliek previously spent 22 years in the structured products industry for JPMorgan Chase and Wells Fargo Bank. Based in Houston, her responsibilities have ranged from business development activities to leading client service teams and loan administration teams. She has several years of experience working with products such as collateralized loan obligations (CLOs), leveraged financing transactions and separately managed accounts (SMAs). She has worked with leading investment banks, collateral managers and various market participants in the CLO market during her career.

 

About Western Alliance Trust Company

Western Alliance Trust Company, N.A., a wholly owned subsidiary of Western Alliance Bancorporation, is a premier provider delivering corporate trust services and levered loan administration solutions to help customers achieve their asset management strategies. Clients benefit from the team’s deep expertise in leveraged loan facility administration and loan administration, a state-of-the-art digital platform and outstanding, personalized attention. Products and services offered by Western Alliance Trust Company are NOT FDIC insured, NOT bank guaranteed and MAY lose value.

Media Contact

Alisa Bal
Senior Marketing Director
Contact via email