Robert Sarver will be retiring as executive chairman from Western Alliance Bancorporation in June, ending a two-decade tenure with the nearly $56 billion asset company.
The announcement of Sarver’s departure comes amid the NBA’s investigation into his ownership tenure of the Phoenix Suns.
Sarver has held the title of executive chairman at Western Alliance Bancorporation since 2018 and has held a seat on the company’s board, which he will also vacate in June, since 2002.
Western Alliance Bancorporation did not address the NBA’s investigation in its announcement, nor did it give a reason for Sarver’s retirement.
