AllianceBernstein L.P. and AllianceBernstein Holding L.P. Announce Board Changes, Effective April 1, 2019
March 26, 2019 at 05:21 pm EDT
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AXA Equitable Holdings Inc. announced new appointments to its Board of Directors, effective immediately. These actions follow the successful close of AXA S.A.’s (“AXA”) third offering of shares of AXA Equitable Holdings common stock on March 25, 2019 which moved AXA to a minority shareholding position. AXA Equitable Holdings named Ramon de Oliveira as the independent Chairman of the AXA Equitable Holdings and AllianceBernstein Boards of Directors. Mr. de Oliveira has held a variety of board positions with subsidiaries of the company since 2011, and currently serves on the AXA Equitable Holdings and AllianceBernstein boards. He is a founder of the consulting firm Investment Audit Practice. In addition to the appointments to the AXA Equitable Holdings Board, the company announced Charles Stonehill, Jeffrey Hurd and Nick Lane will join the AllianceBernstein Board of Directors. All changes to the AllianceBernstein Board of Directors will take effect April 1, 2019. Mr. Stonehill currently serves on the AXA Equitable Holdings and AXA Equitable Life Boards of Directors. He brings more than 40 years of experience in investment banking and capital markets having held senior leadership positions such as Global Head of Lazard Capital Markets, Head of Investment Banking for the Americas of Credit Suisse First Boston and as Head of European Equities and Equity Capital Markets at Morgan Stanley. Mr. Stonehill is the founding partner of Green & Blue Advisors. AXA Equitable Holdings Chief Financial Officer Anders Malmstrom will depart the AllianceBernstein Board after two years of service to focus on the strategic finance initiatives commensurate with AXA Equitable Holdings’ newly independent profile. Denis Duverne, Chairman of the Board of Directors of AXA, and Robert Zoellick, the Non-Executive Chairman of the AllianceBernstein Board, will also depart from the AllianceBernstein Board of Directors.
AllianceBernstein Holding L.P. is a global investment management company. The Company provides diversified investment management, research, and related services to a range of clients. Its principal services include Institutional Services, Retail Services, Private Wealth Management Services and Bernstein Research Services. It offers Institutional Services to its institutional clients, which include private and public pension plans, foundations and endowments, insurance companies, central banks, and governments worldwide, and Equitable Holdings, Inc. (EQH) and its subsidiaries. Its retail services distribute retail products and services through financial intermediaries, including broker-dealers, insurance sales representatives, banks, registered investment advisors and financial planners. It offers Private Wealth Management services to its private clients, including high-net-worth individuals and families, trusts and estates, charitable foundations, partnerships, and other entities.