AllianceBernstein overhauls thematic equity team

AllianceBernstein has overhauled its global equity team focused on achieving environmental and social outcomes, appointing a new lead for the division and announcing the exit of two long-serving portfolio managers.

The sustainable thematic equity team is now led by Lei Qiu, who took on the post after the merger of the sustainable thematic and disruptive innovation research teams.

Qiu is the head of thematic equities, responsible for the AB Global Disruptors, Global Technology, Strategic Research and Strategic Research Balanced strategies.

Qiu joined the firm in 2012 and has been a portfolio manager at since 2016. She previously worked as a senior research analyst, focusing on the technology, media and telecom sectors. Before AllianceBernstein, she founded Phidias Capital Management, a technology-focused asset-management company.

As part of the overhaul, portfolio managers Dave Wheeler and Ben Ruegsegger will exit the fund manager following respective tenures of 18 years and 25 years. Senior quant portfolio analyst Amy Yang will subsequently transition to a new role in the team.

Daniel Roarty previously led the sustainable thematic equities team as chief investment officer.

He stepped down from the role this year but remains as a senior adviser to the sustainable thematic equities platform.

Among the major changes, the fund manager recently announced that Seth Bernstein will retire as chief executive on 31 March 2027 and will continue to support the firm as a member of the board of directors.

Onur Erzan, who is the current president of AllianceBernstein, will take over the top job on 1 April 2027. He retains the role of president.

Erzan joined the firm from McKinsey & Company in 2021 as head of global client group after a near two-decade tenure, where he was a senior partner and co-leader of its wealth and asset management practice.

"Onur is an exceptional leader with deep experience across asset management and insurance," said Mark Pearson, the chief executive of Equitable Holdings, AllianceBernsteins's parent company.

"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 recognise 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."