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Thursday, August 27, 2020

A $623B-AUM Giant's Strategy Chief Rises

Reported by Neil Anderson, Managing Editor

The strategy chief of a $623-billion-AUM, 3,825-person asset manager is on the rise, even as a C-suiter is preparing to say goodbye.

Ali Dibadj
AllianceBernstein L.P.
Partner, Head of Finance and Strategy
Yesterday, Seth Bernstein, president and CEO of AllianceBernstein [profile], confirmed yesterday that Miami Beach-based partner Ali Dibadj will take over in February 2021 as chief financial officer of the fund firm. Dibadj will succeed New York City-based senior vice president John Weisenseel, who will then shift into a senior advisor role before retiring in September 2021.

News of the CFO succession plan comes after Dibadj rose to head of finance and strategy back in March and serves on the firm's operating commitee. (According to a note from Craig Siegenthaler, a Credit Suisse analyst who covers AB, Dibadj had been covering U.S. beverages on AB's equity research team prior to his promotion earlier this year.) Once Dibadj takes over as CFO, he will continue to serve as strategy chief, too.

"I cam confident that Ali's appointment will help AB maintain its healthy positioning, continue to advance our growth aspirations and further position our firm to succeed in the future," Bernstein states.

As for Weisenseel, Bernstein lauds the exiting CFO for having "greatly improved [AB's] finance teams and functions" and for helping the New York City-based firm with its in-progress move to Nashville, which began in 2018.

Dibadj, an alumnus twice over of Harvard, worked at a law firm and spent a decade at McKinsey and Mercer before joining AB Bernstein Research Services in 2006. Since 2017, he has served as an equities PM.

Weisenseel, an alumnus of the University of Texas at Austin's Red McCombs School of Business and of Adelphi University, joined AB as CFO in 2012. Prior to that he spent more than seven years at S&P, and earlier on he worked at Barnes & Noble, Citigroup, Continental Bank, and KPMG Peat Marwick. 

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