AllianceBernstein Announces James A. Gingrich, Chairman and CEO of Sanford C. Bernstein, Assumes Role of COO

AllianceBernstein Holding L.P.

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.