Richard A. Davies is leaving AllianceBernstein as senior managing director and global head of defined contribution and multiasset business development, effective Dec. 31.
In an e-mailed letter to industry colleagues, Mr. Davies announced his departure “as part of a restructuring of our defined contribution and multiasset efforts.” The letter was obtained independently by Pensions & Investments.
Jennifer DeLong, senior vice president for defined contribution, will assume Mr. Davies’ DC activities as well as continue her responsibilities, said Jonathan Freedman, a spokesman for AllianceBernstein.
Matthew Bass, senior vice president, business development for alternatives, will add Mr. Davies’ multiasset business development duties to his job portfolio, Mr. Freedman said.
Mr. Davies could not be reached for comment.
Mr. Davies wrote that his leaving AllianceBernstein “will be a very amicable one,” and that he will be “helping with client and project transition issues” through the end of the year.
He added that he will be seeking “general management, distribution and product opportunities” in the DC field “as well as pursuing a few entrepreneurial thoughts.”
Mr. Davies has worked for AllianceBernstein at two different times. He spent 16 years at the company before leaving in June 2011 to become managing director for defined contribution at Russell Investments.
He rejoined AllianceBernstein in December 2013, initially as senior vice president and co-head of North American institutional.
