Marc Mayer, a 20-year veteran of AllianceBernstein, was tapped as the first CEO of Grantham Mayo Van Otterloo, a GMO spokesman confirmed today.
His arrival in March will mark a departure from the collective management structure that has characterized GMO for the past decade or so a response, in part, to the growth in the companys scale and complexity, market veterans say.
Mr. Mayer has been serving as an executive vice president and CIO of AllianceBernsteins asset allocation group. In a career stretching more than two decades, he has held leadership positions in both AllianceBernsteins institutional and retail divisions.
Seth J. Masters, an executive vice president who heads AllianceBernsteins defined contribution division, will become CIO of the asset allocation group while keeping his DC division duties, said spokesman John Meyers. Mr. Masters held that CIO position from 2002 to June 2008. Thomas J. Fontaine, head of research and investment design in the DC division, will assume day-to-day administration of the unit under Mr. Masters, Mr. Meyers said.