This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

AllianceBernstein Announces Organizational Changes To Streamline Management

Stocks in this article: AB AXA

NEW YORK, Dec. 19, 2011 /PRNewswire/ -- AllianceBernstein Holding L.P. (NYSE: AB) and AllianceBernstein L.P today announced organizational changes that streamline the firm's management structure. With these changes, the firm aims to improve the execution of its long-term strategy of diversifying the mix of investment services it offers to clients, and increasing operating leverage.

  • James A. Gingrich -- Chairman and Chief Executive Officer of the firm's sell-side research subsidiary, Sanford C. Bernstein & Co., LLC -- will assume the role of Chief Operating Officer of AllianceBernstein, effective immediately.
  • Robert P. van Brugge, Global Director of Research at Sanford C. Bernstein & Co., LLC, will succeed Mr. Gingrich as Chairman and CEO of Sanford C. Bernstein & Co., LLC.
  • Robert M. Keith, Co-Head of Institutional and Retail Distribution, will assume sole responsibility for client service, sales and marketing in those channels, globally.
  • Lawrence Cohen, Chief Technology Officer, will head both Technology and Operations.
  • The firm's current Chief Operating Officer, David A. Steyn, and Co-Head of Institutional and Retail Sales and Marketing, Gregory J. Tencza, will be leaving the firm effective January 3, 2012. The director of operations, Richard G. Taggart, will be leaving the firm on January 31, 2012.

Peter S. Kraus, Chairman and Chief Executive Officer of AllianceBernstein, said, "Jim has a tremendous track record of success, first as a research analyst and then as global director of research. Over the past five years, he has been at the forefront in establishing and growing our European and Asian sell-side research efforts and launching European electronic trading and U.S. derivatives trading businesses as well. He has achieved this global expansion while maintaining the preeminence of our sell-side research brand in the United States. Jim's experience makes him ideally suited for managing the broad portfolio that the COO role requires." 

Kraus continued: "I want to thank David Steyn for his many contributions to our firm over the years.  Since establishing our London office over a decade ago, he has grown our institutional business to be one of the U.K.'s ten largest pension fund managers and played a pivotal role in globalizing our sales and marketing efforts.  He also led the integration of our institutional, retail and private client channels, and cultivated talent at all levels of our organization worldwide. I wish David well in his future endeavors."

In his new role, Gingrich, 53, will be responsible for all sales and marketing efforts related to the firm's asset management business as well as its finance, legal, operations and technology infrastructure. Van Brugge, 43, Keith, 51, and Cohen, 50, will report to Gingrich. Investment management and trading will continue to report directly to Kraus.

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 clients in major world markets.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.25 +19.09 0.95%
NASDAQ 4,683.4070 +45.4130 0.98%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs