AllianceBernstein Holding L.P. (NYSE: AB) announced a leadership transition on September 25, 2026, effective April 1, 2027. The firm revealed that Onur Erzan, currently the company's President, will succeed Seth Bernstein as Chief Executive Officer. Seth Bernstein is set to retire as CEO on March 31, 2027, after nearly a decade in the role, though he will remain a member of the Board of Directors.
Mr. Erzan, age 50, has been with AllianceBernstein since 2021. Prior to his promotion to President in January 2026, he served as Head of the Global Client Group and Private Wealth. Before joining the firm, he spent 20 years at McKinsey & Company, most recently as a Senior Partner and co-leader of its Wealth & Asset Management practice. Upon assuming the CEO role, Mr. Erzan will also be appointed to the Board of Directors.
According to the filing, Mr. Erzan’s total compensation target for fiscal year 2027 is $13.5 million. This package includes a base salary of $650,000, a cash bonus of $5.8 million, and equity awards valued at $5.05 million. These equity awards consist of an annual amortized value of a restricted unit award valued at $1.25 million, an Incentive Compensation Award Program (ICAP) award valued at $3.45 million, and an award of Equitable Holdings equity valued at $2.35 million.
In connection with his retirement, Mr. Bernstein will receive an appreciation grant of restricted AB Holding Unit Awards valued at $2.5 million, a 2026 Equitable Holdings Long Term Incentive Plan award of $1.0 million, and 26 weeks of salary continuation totaling $325,000. Under the terms of the transition, Mr. Bernstein will continue to receive his current salary and benefits through March 31, 2027.
As of August 31, 2026, AllianceBernstein reported assets under management of $919 billion. The firm is a subsidiary of Equitable Holdings, Inc., which owns an approximate 68% economic interest in AB as of June 2026.
