LAS VEGAS-(BUSINESS WIRE)--Western Alliance Bancorporation (NYSE - WAL) announced that it has agreed to acquire a majority interest of Shine Investment Advisory Services, Inc. ("Shine"), a registered investment advisor in Denver, Colorado. Privately-held Shine had approximately $400 million in assets under management at June 30, 2007. Terms of the agreement were not disclosed. The Carson Medlin Company served as financial advisor to Shine.

Shine Investment Advisory Services, Inc. provides a wide range of fee-only investment and wealth management services to high net worth individuals.

"We have long thought that providing asset management services is a natural positive extension of the financial services we offer. We entered the business with the acquisition of Miller/Russell and Associates in May 2004, which has more than doubled, organically, its assets under management to $1.65 billion since that time," said Robert Sarver, chairman and chief executive officer of Western Alliance.

Sarver continued, "We're excited both to be expanding our platform into the Colorado market and adding diversity in our revenue sources with a new fee-income service. Shine Investments is a highly respected and successful investment advisory firm. We're very pleased that Judy Shine and her team have elected to join Western Alliance."

A nationally recognized investment advisor, Shine is only one of 25 investment advisors who has been named to Worth Magazine's list of "America's Top Wealth Advisors" every year from the original publication of the list in 1994.

"We are extremely pleased to be joining the Western Alliance network of financial services and looking forward to being a part of this dynamic enterprise," said Judy Shine, Shine Investments Founder and President.