Mary Tuuk Kuras
WESTERN ALLIANCE BANCORPORATIONAbout Mary Tuuk Kuras
Mary Tuuk Kuras, age 61, is an independent director of Western Alliance Bancorporation (WAL) serving since 2023. She is CEO of MTK Practical Leadership and previously held senior leadership roles in risk, compliance, and operations at Fifth Third Bancorp; she holds a B.A. from Calvin University and both a J.D. and M.B.A. from Indiana University . The Board affirmed her independence (all nominees except the CEO are independent) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Fifth Third Bancorp | EVP & Chief Risk Officer (enterprise risk strategy/policies); EVP & President, Western Michigan affiliate; EVP, Corporate Services & Board Secretary; SVP & Chief Operational & Compliance Officer; SVP & Senior Director of Security Risk Services | 2003–2015 (various roles: CRO 2007–2011; President Western MI 2011–2013; Corporate Services & Secretary 2013–2015; Compliance 2003–2007; Security Risk Services from 2007) | Enterprise risk management, information security, continuity, regulatory compliance |
| Meijer, Inc. | Chief Compliance Officer; SVP, Properties & Real Estate | 2015–2019 (CCO); 2018–2019 (SVP Properties) | Retail compliance and real estate oversight |
| United Bank of Michigan | Director; Audit Committee Chair | 2019–2023 | Audit Committee leadership |
| Grand Rapids Symphony | President & CEO | 2019–2022 | Organizational leadership |
| Old Kent Financial Corporation | SVP, Secretary & Legal Coordinator | 1996–2001 | Corporate governance/legal coordination |
| Chapman and Cutler LLP | Associate | 1990–1996 | Financial services legal practice |
External Roles
| Organization | Role | Tenure | Committees |
|---|---|---|---|
| UFP Industries | Director | Since 2014 | Audit; Nominating & Corporate Governance |
| MTK Practical Leadership | Chief Executive Officer | Since Jan 2023 | Leadership coaching/consulting (private) |
Board Governance
- Current WAL committees: Audit Committee member; Risk Committee member .
- Prior committee service: Finance & Investment Committee member during 2024 (now rotated off) .
- Committee chairs: Not a chair; Audit Chair is Juan R. Figuereo; Risk Chair is Howard N. Gould .
- Independence: Independent director (Board determined all nominees except the CEO are independent) .
- Attendance and engagement: Board held 9 meetings in 2024; each current director attended at least 75% of Board and committee meetings; independent directors held 5 executive sessions, presided over by independent Board Chair Bruce D. Beach .
- Committee activity levels (2024): Audit met 11x; Risk met 8x; Finance & Investment met 7x; Governance met 7x; Compensation met 8x .
Fixed Compensation
Program structure for non‑employee directors (approved Feb 2024):
- Annual Board retainer: $50,000 cash .
- Committee service retainers: Audit $20,000; Compensation/Governance/Risk/Finance & Investment $10,000 each .
- Committee chair retainers: $10,000 for each committee chair .
- Annual equity: 4,056 restricted shares (grant date fair value $235,005); granted Feb 6, 2024; vests Feb 6, 2025 .
- Additional Board Chair compensation: $80,000 cash + $80,000 restricted stock .
2024 actual compensation for Kuras:
| Component | Amount ($) |
|---|---|
| Fees Earned or Paid in Cash | 75,000 |
| Stock Awards (grant-date FV) | 235,005 |
| All Other Compensation (primarily dividends on unvested grants) | 9,774 |
| Total | 319,779 |
Performance Compensation
Director equity is time-based (not performance-based). 2024 grant details for all non‑employee directors:
| Grant | Shares | Grant Date | Vest Date | Grant-Date Fair Value |
|---|---|---|---|---|
| Annual restricted stock (Kuras) | 4,056 | Feb 6, 2024 | Feb 6, 2025 | $235,005 |
The company aligns director and shareholder interests via annual restricted stock grants and director stock ownership guidelines (see Equity Ownership) .
Other Directorships & Interlocks
| Company | Type | Role | Notes |
|---|---|---|---|
| UFP Industries | Public | Director; Audit; Nominating & Corporate Governance | Current external public board |
- Related-party/Interlocks: WAL disclosed no related-party transactions >$120,000 involving directors in 2024 other than specified executive family employment; no transactions involving Kuras were disclosed .
Expertise & Qualifications
- Financial services risk, compliance, and strategic planning expertise from CRO and executive roles at Fifth Third Bancorp .
- Audit committee experience (chair at United Bank of Michigan; current Audit Committee member at WAL and at UFP Industries) .
- Corporate governance background (board secretary experience; current governance committee service at UFP) .
- Legal and regulatory grounding (J.D.; regulatory compliance leadership roles) .
Equity Ownership
| Holder | Beneficially Owned Shares | % of Shares Outstanding | Notes |
|---|---|---|---|
| Mary Tuuk Kuras | 11,691 | ~0.011% (computed from 11,691 / 110,615,656 shares outstanding) | No pledging disclosed for Kuras; pledging is prohibited by policy with limited exceptions . |
Director stock ownership guidelines:
- Minimum holding: value ≥ 5x annual cash compensation, with a 5-year compliance window; all directors were in compliance in 2024 .
- Hedging and pledging of company stock prohibited (limited historical or capacity-based pledging exceptions; pledged shares excluded from ownership requirements) .
Governance Assessment
- Board effectiveness signal: Independent director serving on Audit and Risk—core oversight committees—adds material strength in financial reporting, ERM, and cyber/operational risk oversight (Audit met 11x; Risk met 8x in 2024) .
- Experience fit: Deep ERM/compliance background and prior audit chair role align with WAL’s risk oversight and LFI readiness priorities .
- Independence and engagement: Board confirmed independence; attendance threshold met; regular independent director executive sessions under independent Chair .
- Alignment: Meaningful equity retainer and stringent ownership/anti-hedging policy; Kuras beneficially owns 11,691 shares; directors must hold at least 5x annual cash retainer over 5 years; all directors in compliance in 2024 .
- Conflicts/related party: No related‑party transactions involving Kuras disclosed; company policy requires Governance Committee approval for any such transactions >$120,000 .
RED FLAGS: None disclosed for Kuras regarding attendance shortfalls, pledging, hedging, or related‑party transactions. Company-wide, one executive (not Kuras) has grandfathered pledged shares, underscoring enforcement of policy exceptions; no implication for Kuras .