The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Gingrich is AllianceBernstein's New COO Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, December 22, 2011

Gingrich is AllianceBernstein's New COO

News summary by MFWire's editors

There has been a shakup in the top ranks of struggling AllianceBernstein [profile]. The changes will include both a new chief operating officer and a new sales head.

The mutual fund firm has tapped James A. Gingrich as COO to replace 12-year veteran David A. Steyn. The move is being described as part of their strategy to "streamline the firm's management structure" and to "improve the execution of its long-term strategy," reports Douglas Appell of Pensions and Investments.

Before the move, Gingrich was chairman and CEO of Sanford C. Bernstein & Co., the sell-side research subsidiary of the firm.

The global asset management firm did not give specific reasons for Steyn's departure effective on January 3, but the changes took place Monday as the company continues to suffer huge equity outflows for the third consecutive years.

AllianceBernstein's chairman and CEO Peter S. Kraus said in the news release that Gingrich's experience "makes him ideally suited for managing the broad portfolia that the COO role requires."

All sales and marketing efforts of the company, including the finance, legal, operations and technology infrastructure will be under Gingrich's responsibility.

Former Sanford C. Bernstein global research director Robert P. van Brugge is taking Gingrich's former post.

Two other executives are stepping down in January. Gregory J. Tencza, senior vice president and co-head of institutional and retail sales and marketing, will leave on January 3 and Richard G. Taggart, director of operations, will leave on January 31.

Robert M. Keith, executive managing director and Tencza's co-head will then be the sole manager of the institutional and retail distribution. Executive vice president and chief technology officer Lawrence Cohen will assume Taggart's responsibilities and will be handling both technology and operations.  

Edited by: HFD

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use