Lewis A. Sanders will become CEO of Alliance Capital Management Holding and Alliance Capital Management, effective June 30. Bruce W. Calvert, currently Alliances chairman and CEO, will remain chairman in a full-time capacity, according to a company statement. John D. Carifa will remain president and COO.
Mr. Sanders is vice chairman and chief investment officer of Alliance Capital Management; he was CEO of Sanford C. Bernstein, which was merged with Alliance in 2000. Mr. Calvert said in a statement that he has viewed Mr. Sanders as his successor. Details about Mr. Sanders replacement as CIO were not available at press time.