It’s no secret the fast-paced world of banking is fraught with challenges. Whether it’s unwieldy interest rates today or a global health crisis tomorrow, each day brings a new obstacle to overcome — often with high stakes.
But for Dillan Knudson, Western Alliance Bank’s new head of commercial banking in Arizona, these obstacles are opportunities. He sees each challenge as a puzzle that, when solved strategically, protects and advances local businesses and bolsters the broader state’s economy.
A Career Marked by Challenge & Change
Knudson’s journey to Western Alliance Bank’s leadership ranks is marked by many an economic peak and trough, a growth trajectory defined by a willingness to relocate and aptitude for driving strategic initiatives despite turnarounds, and a propensity for managing high-growth markets, building highly engaged teams and navigating stability through acquisition. Through these experiences, he developed a knack for problem solving while staying focused on his biggest driver: the unique needs of business leaders and their companies.
Knudson entered the banking world in Arizona at the threshold of the Great Recession, during which he cut his teeth in commercial real estate at First National Bank of Arizona followed by a few years in investment banking at Dudley Ventures. After that, his career launched into a 12-year tenure at BBVA / PNC, which moved him from Texas to Arizona to California and back to Texas again.
“We bankers encounter all kinds of unique challenges in our industry — real estate cycles, energy crises, pandemics, labor shortages,” Knudson says. “You name it, we’ve seen it. One of the things that set the course for my career in banking was a love of taking those trials as they came and prioritizing the needs of our clients and team members as we get through it — sometimes breaking from convention to do so. Helping business leaders has called to me since the beginning of my career, so when the opportunity arose with Western Alliance, there was no question in my mind that I wanted to be here.” Headquartered in Phoenix, Western Alliance Bank has more than $70 billion in assets and is the parent company of Alliance Bank of Arizona, the state’s third-largest bank based on deposits.
A Leadership Philosophy Built by Doing
At the heart of Knudson’s leadership philosophy lies a commitment to servant-minded leadership, centered on empowering others to achieve their potential and being unafraid to roll up his sleeves to aid colleagues in need. He formed his approach to mentorship early in his career through the challenges of the Great Recession, later refining it during an energy crisis in Texas and in the wake of the undeniable impact of the COVID-19 pandemic.
“I’ve been fortunate throughout my career to have excellent mentors,” Knudson says. “Having worked in banking through the major events I have, I know how crucial it is to be a steady and unflappable support for the teams I lead — it’s something I’ve admired from the folks who have shepherded me throughout my career. A lot of what we do can only truly be learned through mentorship, so it’s something I’m especially proud to bring to Western Alliance.”
Paving the Way for Arizona’s Bright Future
Knudson’s return to Arizona is not just a homecoming; it’s a strategic move with an eye on the future. In the short term, his focus is on expanding Western Alliance’s commercial banking initiatives in the region by growing and developing his team of experienced bankers and subject matter experts who can support local businesses as they transition from the belt tightening and uncertainty they’ve experienced over the past four years toward a place of sustainable growth.
“We’re finally at a place now where we’re seeing inflationary pressures start to ease up,” Knudson says. “Many of our business leaders made challenging adjustments over the past few years to position themselves for success. With optimism growing, it’s the perfect time to bring new, creative ways of doing business to the table to help kickstart this next stage of growth in Arizona.”
Knudson’s long-term goals envision a revitalized and resilient business ecosystem that meets the needs of Arizona’s constantly growing population and aligns with the state’s long-standing reputation for innovation and entrepreneurship.
In this era of constant change, Knudson’s leadership and creative problem-solving approach are driving local business leaders toward a brighter economic future. From his early days navigating tough times in Arizona’s commercial real estate landscape to his later work in commercial banking, Knudson knows what makes Arizona entrepreneurs tick. That, coupled with a willingness to break from the status quo, allows Knudson to shepherd Arizona’s business leaders to the next frontier in Arizona’s changing economic landscape.
As he and his team turn obstacles into opportunities, the journey unfolds, not just for Knudson but for the businesses and communities he serves.
Did You Know: According to U.S. News & World Report, Arizona’s economy ranks No. 5 in the United States. This is largely attributed to its economic growth — driven by its strong commercial and industrial sectors and reputation for entrepreneurial innovation — but is also aided by the state’s employment numbers and business-friendly tax and regulatory environment.
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