Gerald M. Lieberman Retiring as President and Chief Operating Officer of AllianceBernstein
June 10 2009 - 5:09PM
PR Newswire (US)
NEW YORK, June 10 /PRNewswire-FirstCall/ -- AllianceBernstein
Holding L.P. (NYSE:AB) and AllianceBernstein L.P. today announced
that Gerald M. Lieberman, 62, will be retiring as president and
chief operating officer, effective July 31, 2009. David A. Steyn,
global head of distribution for AllianceBernstein, will assume the
role of chief operating officer. Peter S. Kraus, chairman and chief
executive officer of AllianceBernstein, said, "Jerry has played a
significant role in shaping our firm as we know it today, most
notably in developing our global integrated platform, risk
management, corporate governance and financial transparency. He has
also led our firmwide expense-reduction efforts which have
strengthened the firm's financial position, now and for the
future." "My time at AllianceBernstein has been both professionally
and personally rewarding," said Mr. Lieberman. "I am confident that
the deep pool of leadership and talent at the firm will continue to
do well for our clients, our employees and our unitholders." Mr.
Steyn, 49, will continue to oversee AllianceBernstein's
distribution services in addition to assuming his new duties as
chief operating officer. Mr. Kraus said, "With 30 years of both
investment and sales-management experience in the financial
services industry, including the last 10 with our firm, David
brings a wealth of knowledge and the broad perspective necessary to
succeed in his new role." About AllianceBernstein AllianceBernstein
is a leading global investment management firm that offers
high-quality research and diversified investment services to
institutional clients, individuals and private clients in major
markets around the world. AllianceBernstein employs more than 500
investment professionals with expertise in growth equities, value
equities, fixed income securities, blend strategies and alternative
investments and, through its subsidiaries and joint ventures,
operates in more than 20 countries. AllianceBernstein's research
disciplines include fundamental research, quantitative research,
economic research and currency forecasting capabilities. Through
its integrated global platform, AllianceBernstein is
well-positioned to tailor investment solutions for its clients.
AllianceBernstein also offers independent research, portfolio
strategy and brokerage-related services to institutional investors.
At March 31, 2009, AllianceBernstein Holding L.P. owned
approximately 34.3% of the issued and outstanding AllianceBernstein
Units and AXA, one of the largest global financial services
organizations, owned an approximate 64.3% economic interest in
AllianceBernstein. Cautions regarding Forward-Looking Statements
Certain statements provided by management in this news release are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks, uncertainties, and other factors
that could cause actual results to differ materially from future
results expressed or implied by such forward-looking statements.
The most significant of these factors include, but are not limited
to, the following: the performance of financial markets, the
investment performance of sponsored investment products and
separately managed accounts, general economic conditions, industry
trends, future acquisitions, competitive conditions, and government
regulations, including changes in tax regulations and rates and the
manner in which the earnings of publicly traded partnerships are
taxed. We caution readers to carefully consider such factors.
Further, such forward-looking statements speak only as of the date
on which such statements are made; we undertake no obligation to
update any forward-looking statements to reflect events or
circumstances after the date of such statements. For further
information regarding these forward-looking statements and the
factors that could cause actual results to differ, see "Risk
Factors" and "Cautions Regarding Forward-Looking Statements" in our
Form 10-K for the year ended December 31, 2008 and Form 10-Q for
the quarter ended March 31, 2009. Any or all of the forward-looking
statements that we make in this news release, Form 10-K, Form 10-Q,
other documents we file with or furnish to the SEC, and any other
public statements we issue, may turn out to be wrong. It is
important to remember that other factors besides those listed in
"Risk Factors" and "Cautions Regarding Forward-Looking Statements",
and those listed above, could also adversely affect our revenues,
financial condition, results of operations and business prospects.
DATASOURCE: AllianceBernstein L.P. CONTACT: Philip Talamo, Investor
Relations, +1-212-969-2383, , or John Meyers, Media,
+1-212-969-2301,
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