Craig Lombardi was hired by AllianceBernstein as managing director for defined contribution investment-only sales, Jennifer DeLong, an AllianceBernstein spokeswoman confirmed.
The position is new.
“Our defined contribution sales people formerly reported to divisional sales managers in their various regions across the country, along with our generalists who represent all AllianceBernstein investment services,” Ms. DeLong wrote in an e-mail. “In order to provide more focus on the adviser-sold DCIO marketplace, our DCIO sales people will be managed as one specialized team under Craig's leadership going forward.”
AllianceBernstein's DCIO business as about $30 billion in assets under management, she wrote.
“Because the DC business continues to be a priority for the firm, we are bolstering our resources in this area as we experience continued growth in both our assets under management and the range of products we offer,” Thomas J. Fontaine, global head of AllianceBernstein Defined Contribution Investments, said in a news release.
Mr. Lombardi was senior vice president, national sales manager insurance sales at Fidelity Investments. Jennifer Engle, a Fidelity spokeswoman, said in an e-mail that Mr. Lombardi’s duties “have been assumed by the integrated insurance and retirement sales management team.”