NEW YORK, April 27, 2016 /PRNewswire/
-- AllianceBernstein L.P. ("AB"), a leading global investment
management firm, today announced Jeff
Eng has rejoined as Managing Director of custom defined
contribution solutions. He will be responsible for driving the
growth of AB's existing custom target-date offerings and Lifetime
Income Strategy solution, while supporting the firm's broader
initiative in digital delivery of retirement planning
advice.
Jeff originally joined AB in 2001 as a Product Director in
defined contribution, where he was involved in the development and
launch of Lifetime Income Strategy, the first multi-insurer
target-date fund with a guaranteed lifetime withdrawal benefit. The
age-based, asset allocation program is designed to help employees
convert their savings over time into a stream of guaranteed income
that lasts throughout retirement. Prior to rejoining the firm, Jeff
was Director of Retirement Income Solutions at Russell
Investments.
"Our defined contribution business continues to grow and we are
excited to have Jeff back on our team. He has an outstanding track
record of developing and implementing innovative customized
retirement solutions and was intimately involved in launching our
Lifetime Income Strategy," said Richard
Davies, Global Head of Defined Contribution at
AB.
AB manages more than $46B in total
defined contribution assets. Leveraging its open architecture
experience as a leader in the custom space, AB has brought several
innovative packaged solutions to the DC marketplace over the past
few years, including an innovative multi-manager target-date mutual
fund series launched in 2014, co-managed with Morningstar, that
provides independent selection of funds from top investment
managers in one target-date family, and a multi-manager target-date
series in a collective investment trust (CIT) format in 2015
partnering with Mercer Investments for third-party manager
selection.
To learn more about the AB's defined contribution solutions, go
to www.abdc.com.
About AB
AB is a leading global investment management firm that offers
high-quality research and diversified investment services to
institutional investors, individuals and private wealth clients in
major world markets.
At March 31, 2016, AB Holding
owned approximately 36.4% of the issued and outstanding AB Units
and AXA, one of the largest global financial services
organizations, owned an approximate 63.2% economic interest in
AB.
Additional information about AB may be found on our website,
www.abglobal.com.
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SOURCE AllianceBernstein L.P.