09.23.24

Western Alliance Sharpens California Middle-Market Focus

by: Caitlin Mullen

Western Alliance is doubling down on middle-market companies in niches that have a heavy presence in California. Since Julian Parra — the regional lender’s national head of commercial and industrial banking — joined the bank in 2023, Western Alliance has added a aerospace and defense banker and food and agriculture banker teams, both based in California. Those industries, in addition to the entertainment and gaming verticals the bank already served, present robust opportunities in Parra’s eyes. The $80 billion-asset bank was among last year’s closely watched regional lenders, as the failures of Signature Bank, Silicon Valley Bank and First Republic Bank rocked the industry. The industry turmoil “proved out the strengths of the broader company,” and the depth of the relationships the bank has with clients, Parra said. “Deposit-taking is about trust,” he added, pointing to the bank’s ability to grow deposits since its 2023 rough patch. The bank’s deposits totaled $66.2 billion as of June 30, an increase of approximately 30% from the year-earlier period. Client and talent acquisition have “to line up with our geography or the industry verticals that we’re good at, so we can leverage the expertise we have,” Parra said. He sees “thousands” of client opportunities in the bank’s existing footprint, as well as the prospect of further growth of those industries the bank is focused on.

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