Former AllianceBernstein CEO to open new firm

Former AllianceBernstein CEO Lewis A. Sanders will launch a new firm as early as January, according to sources who declined to be identified.
SEP 03, 2009
Former AllianceBernstein CEO Lewis A. Sanders will launch a new firm as early as January, according to sources who declined to be identified. John Mahedy, now CIO of U.S. and North American value equities at AllianceBernstein, will leave AllianceBernstein in mid-October to join Mr. Sanders, the sources said. Mr. Mahedy will serve as CIO of the new investment firm. At AllianceBernstein, Gerry Paul and David Yuen will become co-CIOs of U.S. large-cap value equities when Mr. Mahedy leaves, while Mr. Paul will become sole CIO of North American value equities. Mr. Yuen will retain his current duties as director of research for U.S. large-cap value equities. Mr. Paul, meanwhile, will relinquish his role as head of global diversified strategies to Drew Demakis, who has served as a member of that team. Mr. Paul will retain his other role as head of global diversified value services. AllianceBernstein spokesman John Meyers confirmed the pending changes, saying the transition would be seamless because Mr. Paul, a 22-year Bernstein veteran, and Mr. Yuen, an 11-year Bernstein veteran, have long “worked hand in glove with John.” Mr. Sanders didn’t immediately return calls to his home for comment. Mr. Mahedy also did not immediately return calls.

Latest News

Married retirees could be in for an $18,100 Social Security cut by 2032, CRFB says
Married retirees could be in for an $18,100 Social Security cut by 2032, CRFB says

A new analysis finds long-running fiscal woes coupled with impacts from the One Big Beautiful Bill Act stand to erode the major pillar for retirement income planning.

SEC bars New Jersey advisor after $9.9M fraud against Gold Star families
SEC bars New Jersey advisor after $9.9M fraud against Gold Star families

Caz Craffy, whom the Department of Justice hit with a 12-year prison term last year for defrauding grieving military families, has been officially exiled from the securities agency.

Navigating the great wealth transfer: Are advisors ready for both waves?
Navigating the great wealth transfer: Are advisors ready for both waves?

After years or decades spent building deep relationships with clients, experienced advisors' attention and intention must turn toward their spouses, children, and future generations.

UBS Financial loses another investor lawsuit involving Tesla stock
UBS Financial loses another investor lawsuit involving Tesla stock

The customer’s UBS financial advisor allegedly mishandled an options strategy called a collar, according to the client’s attorney.

Trump's one big beautiful bill reshapes charitable giving for donors and advisors
Trump's one big beautiful bill reshapes charitable giving for donors and advisors

An expansion to a 2017 TCJA provision, a permanent increase to the standard deduction, and additional incentives for non-itemizers add new twists to the donate-or-wait decision.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.