AllianceBernstein L.P. announced a leadership transition on September 25, 2026, effective April 1, 2027. Seth Bernstein, who has served as Chief Executive Officer for nearly a decade, will retire on March 31, 2027. Following his retirement, Bernstein will remain on the Board of Directors of AllianceBernstein Holding L.P.
Onur Erzan, age 50, has been appointed as the new President and Chief Executive Officer. Erzan has been with AllianceBernstein since 2021 and has served as President since January 5, 2026. He oversees the firm’s Private Wealth Management, Global Private Alternatives, and Global Asset Management Distribution businesses, as well as Strategy and Corporate Development functions.
Erzan’s compensation package for fiscal year 2027 includes a base salary of $650,000 and a total compensation target of $13.5 million. This total consists of a cash bonus of $5.8 million, the annual amortized value of a 2025 restricted unit award valued at $1.25 million, an Incentive Compensation Award Program (ICAP) award valued at $3.45 million, and an equity award valued at $2.35 million. Additionally, if he remains employed through December 1, 2028, his 2029 ICAP award will be adjusted upward by $1.25 million.
In connection with the transition, Bernstein’s retirement agreement provides for an appreciation grant of restricted unit awards with a total grant date fair value of $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.
