The New York-headquartered asset and wealth management house is getting a new chief executive, due to take over from the incumbent next April.

A senior figure at AllianceBernstein, Onur Erzan, has been appointed as its chief executive and president, effective April 1, it announced last Friday. 

Erzan, who joined the business in 2021, will retain his roles overseeing AB’s Private Wealth Management, Global Private Alternatives, Global Asset Management Distribution businesses and Strategy and Corporate Development functions, the firm said. 

AllianceBernstein said Erzan will refine his leadership team structure by the end of 2026. He will succeed Seth Bernstein, who will be retiring effective March 31, 2027, after nearly a decade leading the firm. Bernstein will continue to serve on AB’s board of directors.

“Onur is an exceptional leader with deep experience across asset management and insurance,” said Mark Pearson, CEO of Equitable Holdings and an AB board member. (AB is a subsidiary of New York-listed Equitable Holdings.) “Since joining AB, he has helped shape the firm's strategy, expand its capabilities and position the business for continued growth. At the same time, this transition is an opportunity to recognize Seth's extraordinary contributions over the past decade. He has led AB through a period of significant growth and helped strengthen the partnership between Equitable and AB at a defining moment for our company.”

During Bernstein’s tenure, the firm moved its corporate headquarters to Nashville, created and built out AB India, and moved Bernstein Research into a joint venture with Societe Generale, the French banking group. 

Prior to joining AB, Erzan spent 20 years with McKinsey & Company, most recently as a senior partner and co-leader of its wealth and asset management practice. He also has served on the boards of Graham Windham and Turkish Philanthropy Funds. He holds a bachelor’s degree in business administration from Middle East Technical University in Ankara, Turkey, and an MBA from Columbia Business School.

AB's assets under management stood at more than $919 billion as of August 31.