Dive Brief:

• Western Alliance has named Vishal Idnani its next chief financial officer, effective Jan. 2, 2026, the company said Thursday.
• Dale Gibbons, 64, who’s been the Phoenix, Arizona-based bank’s finance chief since 2003, will transition to a new role as vice chairman and chief banking officer for deposit initiatives and innovation at $85 billion-asset Western Alliance.
• Idnani, 40, has spent almost two decades at JPMorgan Chase, where he now serves as managing director in the financial institutions group at the lender’s investment bank. He’ll join Western Alliance in October. His initial annual salary will be $670,000, the bank said in a securities filing. 

Dive Insight:

In his time at JPMorgan, Idnani has “served as a trusted advisor to over 50 regional banks, including [Western Alliance],” the Arizona bank said Thursday. 

Western Alliance CEO Ken Vecchione has “known and worked with Vishal since my return to the bank in 2017,” he said, adding that Idnani “has been one of my most reliable and trusted outside advisors.” 

“His proven ability to foster key stakeholder relationships with executive management and the Board showcases his capacity to drive strategic initiatives and deliver outstanding financial results,” Vecchione said. “Enlisting a senior leader with an in-depth understanding of our strengths and appreciation of our culture gives me great confidence that he will be an exceptional asset to our leadership team and to Western Alliance as a whole.”

Gibbons, who served as interim CEO from December to April while Vecchione was on medical leave, was CFO at Zions Bank prior to his time at Western Alliance, and worked at First Interstate Bank before that.

“Gibbons is regarded as one of the sharper CFOs among regional banks, and this move to an operating role could position him as a firmer candidate” to succeed Vecchione, Truist Securities analyst David Smith wrote Thursday. 

Vecchione lauded the role Gibbons has played for more than two decades at the bank. 

“In recent years, Dale also has guided key deposit business units toward continued expansion,” Vecchione said.

As Western Alliance seeks to advance its national commercial bank strategy, Gibbons will build on that deposit expansion strategy in his new role. He’ll focus on organic deposit-generating business lines, particularly with corporate trust affiliate Western Alliance Trust Company, business escrow services, juris banking, digital assets, homeowners association banking and consumer digital segments, Western Alliance said.

The company is giving Idnani a one-time restricted stock award of $700,000, set to vest over three years. Idnani will also receive a one-time cash relocation award of $250,000. 

Idnani’s annual target bonus is 150% of his base salary, and his 2025 bonus payout is guaranteed at target, the bank said in the securities filing. His 2025 bonus payout above 100% will be prorated based on his hire date. 

In 2026, he’s also eligible for an annual long-term incentive award with a grant value at target equal to 200% of his salary, the filing said; his 2026 long-term incentive grant is guaranteed at target. 

Earlier this week, the company said it was bringing all six of its bank brands under the Western Alliance name.