Global investment firm AllianceBernstein (AB) has named its president, Onur Erzan, as its next chief executive, succeeding Seth Bernstein, who has led the firm for nearly a decade.

Bernstein will retire from his role as chief executive on 31 March 2027, but will remain on its board of directors, the $919bn (£693.8bn) asset manager said.

During his tenure, the firm stated that Bernstein has moved AB beyond its roots in active public markets asset management into private alternatives, private wealth, insurance asset management and retirement solutions.

He has also overseen the relocation of AB’s headquarters to Nashville and the creation of AB India.

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“It has been the privilege of a lifetime to lead this remarkable firm,” said Bernstein on his retirement.

Erzan will take on the combined role of president and chief executive from 1 April 2027.

He became president in January 2026, overseeing the firm’s private wealth management, global private alternatives and global asset management distribution businesses, and has focused in particular on expanding AB’s private credit and broader retirement income offerings.

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Before joining AB, Erzan spent 20 years at McKinsey, most recently as a senior partner and co-leader of its wealth and asset management practice.

“I am honoured to lead AB at such a pivotal moment in our history,” said Erzan. “I look forward to writing the next chapter of AB’s story alongside our talented and committed colleagues across the globe.”

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