The management changes affect business areas including private wealth.

AllianceBernstein has named a chief financial officer while the head of the business’s private wealth business has stepped down, it announced this week. 

Kate Burke, who has been appointed CFO, effective immediately, will also remain as chief operating officer. She has stepped down as head of Bernstein Private Wealth.

Meanwhile, Onur Erzan, AB's head of the global client group, has been appointed head of Bernstein Private Wealth. Erzan will maintain his global client role.

"The success of our firm is engrained in our ability to meet our clients' needs, evolve, and identify areas to move the firm forward," AB president and CEO Seth Bernstein, said, adding that: "This leadership transition further positions AllianceBernstein to succeed in the future." 

Burke will oversee finance, strategy, and responsibility, while continuing oversight of all corporate functions as COO. She is succeeding interim CFO Bill Siemers, who will return to his prior role as corporate controller and 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 & Company for more than 19 years, where he was a senior partner and co-leader of McKinsey's wealth management and asset management area. 

Burke will remain in Nashville, and Erzan will remain in New York City, the business added.