NEW YORK, June 5, 2019 /PRNewswire/ -- AllianceBernstein
L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding")
(NYSE: AB) today announced changes to the firm's
leadership. Kate Burke, previously
Chief Talent Officer and Head of Human Capital, has been appointed
Chief Administrative Officer ("CAO"). Karl
Sprules, most recently Co-Head of Global Technology and
Operations, has been named sole Head of Global Technology and
Operations.
As CAO, Ms. Burke will oversee Finance, Legal, Compliance,
Internal Audit, Human Capital, Corporate and Information Security,
and Operations and Technology. In his role as Head of Global
Technology and Operations, Mr. Sprules will lead the firm's
investments in new technology and infrastructure solutions to best
serve clients.
"These changes are a testament of our commitment to fulfilling
AB's long-term succession plans, while recognizing the deep bench
of talent within the firm," said Seth
Bernstein, President and CEO, AllianceBernstein. "I am
confident Kate and Karl will help us to position AB for long-term
success through innovation and best-in-class service to our
clients."
In conjunction with these new leadership appointments,
Jim Gingrich, Chief Operating
Officer, will retire from the firm no earlier than the end of 2020
and no later than the end of 2022 to allow for a smooth transition
of his responsibilities. Mr. Gingrich will continue to oversee the
relocation of the firm's corporate headquarters to Nashville and strategy and operational
execution within AB's Client Group, Private Client and Bernstein
Research business units. He will also continue to work closely with
Mr. Bernstein on the broader firm strategy to reposition the
company's portfolio of investment services, as well as support Ms.
Burke in strategic and operational planning.
"Our success depends in part upon our ability to evolve our
organization and provide opportunities for our people to capitalize
on industry changes to make AB more relevant to our clients. These
leadership appointments enable Kate and Karl to build upon the
strong capabilities we have in our corporate functions while
allowing Jim to focus his considerable abilities on completing the
Nashville transition as well as
identify and pursue areas for AB to grow," said Mr. Bernstein.
About AllianceBernstein
AllianceBernstein 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.
As of March 31, 2019, including both the general
partnership and limited partnership interests
in AllianceBernstein, AllianceBernstein
Holding owned approximately 35.2%
of AllianceBernstein and AXA Equitable Holdings,
Inc. ("EQH"), directly and through various subsidiaries, owned
an approximate 65.6% economic interest in AllianceBernstein.
Additional information about AB may be found on our
website, www.alliancebernstein.com.
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SOURCE AllianceBernstein