Ex-AllianceBernstein thought leader to help craft tailored investment plans. Multifamily office Bessemer Trust has hired former AllianceBernstein portfolio manager Peter Langas as a managing director in charge of investment strategies, a new position. Based at Bessemer's headquarters in New York, Langas will help set the firm's investment policies and work with the firm's clients and client-service teams to formulate bespoke investment plans based on internal and third-party strategies.

"Peter brings 21 years of professional experience, primarily in strategic asset allocation and portfolio management, for wealthy families," says Bessemer's CIO Marc Stern.

To support and enhance

Langas was responsible for strategic oversight and management of client portfolios at Bernstein Global Wealth Management, the ultra-high-net-worth arm of New York-based asset manager AllianceBernstein. Earlier in his career, he managed portfolios for high-net-worth families at the Chicago Trust Company, Chicago-based Vestor Capital and Morgan Stanley.

Stern, who joined Bessemer from AllianceBernstein in the summer of 2004, worked with Langas at that firm for about five years.

Bessemer created the role of "investment strategist" -- Langas' new position -- to support and enhance Bessemer's investment platform, which has experienced considerable growth in recent years, including the addition of several global strategies and a real-return strategy, according to Stern.

Founded in 1907 as the Henry Phipps family office, Bessemer Trust is a wealth-management and investment-advisory firm that oversees more than $50 billion across approximately 1,900 relationships. -FWR

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