Christopher Halmy
WESTERN ALLIANCE BANCORPORATIONAbout Christopher A. Halmy
Former CFO of Ally Financial (2009–2018), age 56, joined Western Alliance Bancorporation’s board in 2024. He is an independent director, Audit Committee member and Chair of the Finance & Investment Committee, with an M.B.A. and B.S. in Accountancy from Villanova and CPA credentials; his background spans Deloitte, JPMorgan, Bank of America, and leading Ally’s 2014 IPO .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Deloitte | Senior Accountant | 1990–1994 | Public accounting foundation |
| JPMorgan | Accounting Officer | 1994–1996 | Financial reporting control experience |
| Bank of America | Assistant VP & Assistant Controller; then SVP, Global Funding Executive | 1996–2009 | Global funding, capital markets expertise |
| Ally Financial | Chief Financial Officer | 2009–2018 | Led 2014 IPO; large FI CFO experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Mercury Financial (fintech) | Chair of the Board | 2019–present | Fintech governance leadership |
| Burford Capital (legal finance) | Independent Director | 2022–present | Public company board experience |
| Mosaic (residential solar financing) | Independent Director | 2017–2023 | Credit and specialty finance exposure |
Board Governance
- Committee assignments: Audit Committee member; Finance & Investment Committee Chair. The Audit Committee met 11 times in 2024; the Finance & Investment Committee met 7 times in 2024 .
- Financial expert: Board determined Audit members are independent and financially literate; Halmy is designated an Audit Committee Financial Expert .
- Independence and engagement: Each current director attended at least 75% of Board/committee meetings in 2024; the Board held nine meetings, and five executive sessions of independent directors were held (presided by the independent Board Chair) .
- Finance & Investment Committee scope: Oversees liquidity strategies, capital planning, issuance of debt/equity, stress testing approvals; committee “All independent except for Mr. Vecchione,” with Halmy as Chair .
Fixed Compensation
| Year | Cash Fees ($) | Stock Awards ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|
| 2024 | 60,000 | 195,889 | 3,659 | 259,548 |
- Program structure (approved Feb 2024): Board retainer $50,000; committee service retainers: Audit $20,000; Compensation/Finance & Investment/Governance/Risk $10,000 each; chair retainers $10,000 per committee; equity grant of 4,056 restricted shares (grant-date fair value $235,005) with vesting on Feb 6, 2025; additional $80,000 cash and $80,000 stock for the Board Chair .
- Appointment timing: Halmy appointed April 22, 2024; new director stock grants made May 2, 2024 (explains partial-year cash and lower grant-date value vs Feb cohort) .
Performance Compensation
| Award Type | Performance Metrics | Vesting/Structure | Notes |
|---|---|---|---|
| Non-employee director restricted stock | None disclosed for directors | Feb 6, 2024 awards vest Feb 6, 2025; May 2, 2024 grants for new directors noted (vesting schedule not separately specified) | Director equity intended to align interests; not tied to EPS/ROE/TSR performance |
No performance-conditioned awards are disclosed for non-employee directors; equity is time-vested restricted stock intended to align director and stockholder interests .
Other Directorships & Interlocks
| Company | Relationship to WAL | Potential Interlock/Conflict |
|---|---|---|
| Mercury Financial | External fintech board role | No WAL-related transactions disclosed; related-party policy governs any such dealings |
| Burford Capital | External legal finance board role | No WAL-related transactions disclosed |
| Mosaic | Former external board role | No WAL-related transactions disclosed |
- Related party exposure: Company states no transactions >$120,000 with directors (outside ordinary-course Reg O-compliant loans) for FY2024; Reg O policy requires arm’s-length terms and board approval without interested director participation .
Expertise & Qualifications
| Credential/Skill | Evidence |
|---|---|
| CPA; MBA/BS Accountancy (Villanova) | Professional and academic qualifications |
| Large FI CFO, capital markets, M&A | CFO Ally; led 2014 IPO; capital markets depth |
| Audit/finance literacy; risk controls | Audit Committee Financial Expert designation; skills matrix covers Finance & Accounting, Risk Management & Controls, Corporate Strategy, Public Company Governance for Halmy |
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Pledged/Hedged |
|---|---|---|---|
| Christopher A. Halmy | 5,861 | * (less than 1%) | Company prohibits hedging/pledging; limited exceptions; no pledging disclosure for Halmy (contrast: footnote discloses pledged shares for Gibbons) |
- Director Stock Ownership Guidelines: Non-employee directors must hold stock valued at ≥5x annual cash compensation; five-year transition for new directors; in 2024, each director was in full compliance .
Insider Trades (Form 4 Filings)
| Filing Date | Transaction Date | Form | Summary | Source |
|---|---|---|---|---|
| 2025-02-10 | 2025-02-06 | Form 4 | Director-reported common stock transactions | |
| 2024 (EDGAR submission 0001212545-24-000135) | 2024 (as reported) | Form 4 | Director-reported transactions |
Governance Assessment
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Strengths
- Finance & Investment Committee chaired by a seasoned large-FI CFO; mandate covers liquidity, capital planning, market activities, and stress testing—core areas for bank risk and investor confidence .
- Audit Committee financial expert; independent status; high committee activity (11 meetings) and board engagement (≥75% attendance) .
- Ownership alignment via stringent director stock ownership guidelines (≥5x annual cash comp) and anti-hedging/pledging policy; directors reported compliant in 2024 .
- Director compensation uses equity (restricted stock) and modest cash retainers; benchmarking with independent consultant (WTW) with no conflicts found .
-
Watch items
- Multiple external board roles (Mercury Financial Chair; Burford Capital) increase time commitments; monitor for any transactional overlap with WAL; company discloses no related-party transactions >$120,000 in 2024 and Reg O safeguards for loans to insiders .
- Finance & Investment Committee includes one non-independent member (CEO Vecchione); ensure robust chair-led oversight and independent majority in sensitive capital/liquidity decisions .
-
Red flags
- None disclosed specific to Halmy (no attendance shortfalls, no hedging/pledging noted, no related-party transactions reported) .