Alliance Bernstein has poached Honor Solomon from Legal & General Investment Management to become its Emea retail distribution boss as it looks to extend its push into the UK wholesale market.
Solomon (pictured), who is expected to join the firm in the first quarter of 2022, will oversee strategy, management and distribution for Alliance Bernstein’s $27bn (£19.7bn) Emea retail arm.
In February, Portfolio Adviser reported that Alliance Bernstein UK chief executive and head of EMEA client group Jamie Hammond was leaving “to pursue new opportunities”.
The US asset manager has been aggressively growing its business in the region over the last two years. Assets have swelled by 47% since the start of 2019 and last March the firm launched its debut UK-domiciled Oeic range.
Solomon spent the last seven years as LGIM’s head of retail distribution, during which time its UK and international wholesale assets have ballooned to £49.8bn.
Prior to this, she led Blackrock’s discretionary team, managing key relationships with banks and intermediaries. She began her career with Merrill Lynch where she spent four years in its investment banking division across Paris, New York and London.
LGIM names interim replacement
LGIM said Steven De Vries, who was appointed as head of wholesale and retail distribution for Emea in July, will take over Solomon’s role on an interim basis.
He will be supported by James Crossley, head of retail for the UK, and LGIM’s regional wholesale distribution specialists across Europe.
“In her time with us, Honor made a significant contribution to the growth of the LGIM’s retail business for which we are grateful, and we wish her well in the future,” a spokesperson for the company said.
Alliance Bernstein also poaches heavy-hitter from ICG
Alongside Solomon, Alliance Bernstein has also hired Mike Thompson as global head of fixed income business development and strategy.
Thompson will join the group in December from Intermediate Capital Group where he was global head of the financial institutions group and European head of marketing and client relations.
He spent 15 years at Pimco in various roles, including head of Asia ex-Japan and head of third-party distribution in Europe, and has worked for fixed income giants Western Asset Management and Franklin Templeton.
Alliance Bernstein head of client group Onur Ezran said the pair of hires is a “clear signal of the ambitions we have for both our EMEA business and our global fixed income franchise”.
“To be able to attract talent of their calibre is confirmation of AB’s status as a brand of choice for both clients and leading industry talent,” he said. “We are delighted to welcome them both to the firm, and we are confident that they will help to lift our retail and fixed income franchises to new levels.”
