Dave Williams, chairman and CEO of Alliance Capital Management, has stepped down as CEO in the first stage of a gradual transition of power. Bruce Calvert, CIO, will become CEO; he will retain the functions of CIO, although the title will disappear.
John Carifa continues as president and COO; Alfred Herrison continues as vice chairman. Kathleen Corbet will become chief of investment operations in London, a new position that consolidates all investment operations there; she was formerly president of Alliance Fixed Income Investors.
