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World funding agency AllianceBernstein, with $725 billion in belongings beneath administration, has discovered a brand new chief monetary officer to switch the interim CFO who stepped in twice because the summer time of 2022.
Efficient March 1, Jackie Marks will assume the function at present held by Invoice Siemers, a senior vp on the firm.
Previous to becoming a member of AB, Marks spent two years as CFO for the writer Condé Nast and three for international monetary providers big Mercer. Earlier than that, she spent virtually 15 years with international media and data providers conglomerate Thompson Reuters, starting as a finance enterprise associate and finally holding CFO positions in Information, Monetary Companies Know-how and Operations, and Enterprise T&O.
In her new function, Marks will lead the AB finance group and oversee monetary facets of the agency’s technique, in line with an announcement this week. Reporting to President and CEO Seth Bernstein, she is going to work carefully with him and Chief Working Officer Karl Sprules.
“I’m assured that Jackie has the best mixture of information, power, and keenness for the work in finance to advance our progress aspirations and additional place AB to reach the longer term with focus and self-discipline,” Bernstein mentioned in a press release.
Established in 2000 when Alliance Capital acquired Sanford C. Bernstein’s 33-year-old funding agency, AB is majority owned by Equitable Holding and serves all kinds of institutional and personal buyers, in addition to monetary professionals, by three enterprise strains: analysis, asset administration and wealth administration, which includes roughly a 3rd of agency revenues.
Underneath its major registered funding advisory enterprise, AB serves greater than 20,000 ultra-wealthy households, greater than 2,500 retirement, pooled funding and philanthropic shoppers, just a little over 1,000 companies, and near 60 every of insurance coverage firms, municipalities and different funding advisors, in line with a latest Kind ADV submitting.
On LinkedIn Tuesday, Marks expressed pleasure and optimism about her new job.
Marks can be primarily based in Nashville, the place AB’s headquarters and finance group are positioned. She’s going to be a part of the agency’s management group and sit on the working committee.
Siemers will stay with the agency as a senior advisor. He took over the function from Kate Burke, who relieved him of interim duties in the summertime of 2022 shortly after Ali Dibadj vacated the seat to affix Janus Henderson as chief govt. Dibadj had changed John Weisenseel, who held the function for nearly 9 years, in February 2021.
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