AllianceBernstein has named Ajai Kaul as chief executive and head of sales for Asia ex-Japan with immediate effect.

Kaul has been with the firm for the past 17 years and has served in a number of senior executive posts for the Asia business. He most recently served as senior managing director for Southeast Asia.

In this new capacity, Kaul will be responsible for setting the region's business strategy and overseeing the company's sales efforts across client and distribution types. He has served as acting CEO since the start of 2011.

The investment firm has predicted that inflation rates across Asia ex-Japan will increase by 4.7 per cent in 2011, up from its previous 3.6 per cent forecast. For the whole of Asia-Pacific, the company forecasts growth of 7 per cent this year.