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Fund Times

AllianceBernstein Shuffles Its CIO Ranks

The firm's longtime equities head, Sharon Fay, will give up her role as CIO for global value and exit as a manager of two funds.

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Sharon Fay, head of equities at AllianceBernstein, is giving up her role as chief investment officer of global value, as well as her portfolio-manager duties on two non-U.S. equity funds. Fay will step aside on July 1, handing an expanded CIO title to Kevin Simms. He currently is CIO for international value but will become CIO for global and international value. He will remain a comanager of the two funds Fay is leaving,  AllianceBernstein International Value (ABIAX) and AllianceBernstein Global Value (ABAGX). AllianceBernstein International Value had carried a Morningstar Analyst Rating of Negative but now is Under Review.

Remaining with Simms on the International Value and Global Value strategies are comanagers Avi Lavi and Takeo Aso, who joined the funds in March 2012. Those three managers have run the portfolios day to day.

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Laura Pavlenko Lutton does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.