AllianceBernstein Appoints COO Kate Burke To Addl. Role Of CFO

(RTTNews) - Investment management firm AllianceBernstein Holding L.P. (AB) and AllianceBernstein L.P. announced Wednesday it has appointed Kate Burke as Chief Financial Officer, effective immediately. She assumes this role while maintaining her role as Chief Operating Officer.

Burke has stepped down from her role as Head of Bernstein Private Wealth. Onur Erzan, AB's Head of Global Client Group, has been appointed Head of Bernstein Private Wealth, in addition to his Client Group role.

In her dual roles as COO and CFO, Burke will now oversee Finance, Strategy, and Responsibility, while continuing oversight of all corporate functions as COO. She succeeds interim CFO Bill Siemers, who will return to his prior role as Corporate Controller & Chief Accounting Officer and remain on the firm's Operating Committee.

Erzan has been with the firm as Head of Global Client Group since January 2021. Prior to joining AB, he was at McKinsey & Co. for more than 19 years, where he was a senior partner and co-leader of McKinsey's Wealth Management & Asset Management.

Erzan will be responsible for the entire Private Wealth Business, while continuing oversight of Global Client Group, which includes the product and distribution functions for AB's Institutional and Retail businesses.

These leadership changes take effect immediately. Burke will remain in Nashville, and Erzan will remain in New York City.