(Bloomberg) -- Western Alliance Bancorp Chief Executive Officer Ken Vecchione said he’ll take a leave of absence starting Monday to undergo bypass surgery.

Chief Financial Officer Dale Gibbons will serve as interim CEO, Vecchione said in a letter to shareholders Wednesday. Chief Banking Officers Tim Bruckner and Steve Curley, along with Gibbons, will form an executive committee to lead the company until the CEO returns, which is expected late in the first quarter.

“Despite having no symptoms of cardiovascular disease and feeling in perfect health, a routine screening identified the need for this important procedure,” Vecchione said. “I am grateful that early detection provided me the opportunity to receive the treatment that my doctors advise will allow me to be healthy and active for years to come.”

Western Alliance was among the banks that was hit by a run on deposits during last year’s regional-bank tumult. In May 2023, the Financial Times said that the Phoenix-based company hired advisers to explore its options, a report that Western Alliance denied at the time, saying the “story is absolutely false.”

In July of last year, Western Alliance said it sold roughly $4 billion in assets, including $3.5 billion in loans tied to residential, commercial real estate and business lending, to improve capital and liquidity while reducing wholesale borrowing.

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