Mark Brown was named managing director for defined contribution products at AllianceBernstein.
The position is new, said Jonathan Freedman, an AllianceBernstein spokesman, in an interview Wednesday. Mr. Brown will “focus on supporting the firm’s generalist institutional client advisers in their defined contribution business development activities as well as in their efforts to provide additional investment services to existing DC clients,” said an AllianceBernstein news release.
AllianceBernstein also announced Wednesday that it had hired Franchesca Maddalena as vice president and defined contribution marketing director. Ms. Maddalena’s job is new, Mr. Freedman said.
Mr. Brown had been vice president and institutional defined contribution strategist at Goldman Sachs Asset Management, “responsible for leading the institutional sales initiative for GSAM’s DC business,” the AllianceBernstein news release said.
Ms. Maddalena was vice president for distribution marketing for the global wealth management unit of Pacific Investment Management Co., “responsible for leading development and implementation of marketing plans that aligned with firm initiatives and internal business objectives,” the news release said.
Representatives of GSAM and PIMCO did not provide replacement information by press time.