Alliance Capital Management has agreed to acquire Whittingdale Holdings, a London-based bond manager with L850 million (U.S. $1.45 billion) in assets under management, primarily for insurance companies and syndicates at Lloyd's of London. Terms were not disclosed.
Also, Kathleen A. Corbet, executive vice president at Alliance, has relocated to London to become CEO of Alliance Capital Ltd., where she will spearhead expansion of the firm's fixed-income initiatives. Patrick Whittingdale, currently chairman of Whittingdale, will become senior vice president reporting directly to Ms. Corbet, who also remains president of Alliance Fixed Income Investors.
Vice Chairman Bruce Calvert, who headed Alliance's London office for the past year, has returned to the firm's New York headquarters.
