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AllianceBernstein names new COO

AllianceBernstein Holding has named James Gingrich, chairman and CEO of the firm's sell-side research subsidiary, Sanford C. Bernstein & Co, as COO, effective immediately.

Gingrich succeeds David Steyn who will be leaving the firm effective 3 January 2012.

In his new role, Gingrich 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.

In addition, Robert van Brugge, global director of research at Sanford C. Bernstein & Co., has been named as chairman and CEO of Sanford C. Bernstein & Co to succeed Gingrich.

Robert 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.

Van Brugge, Keith and Cohen will report to Gingrich.

Investment management and trading will continue to report directly to Peter Kraus, chairman and CEO of AllianceBernstein.

The company said with these changes, it 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.