Global investment firm AllianceBernstein, with $725 billion in assets under management, has found a new chief financial officer to replace the interim CFO who stepped in twice since the summer of 2022.
Effective March 1, Jackie Marks will assume the role currently held by Bill Siemers, a senior vice president at the company.
Prior to joining AB, Marks spent two years as CFO for the publisher Condé Nast and three for global financial services giant Mercer. Before that, she spent almost 15 years with global media and information services conglomerate Thompson Reuters, beginning as a finance business partner and eventually holding CFO positions in News, Financial Services Technology and Operations, and Enterprise T&O.
In her new role, Marks will lead the AB finance team and oversee financial aspects of the firm’s strategy, according to an announcement this week. Reporting to President and CEO Seth Bernstein, she will work closely with him and Chief Operating Officer Karl Sprules.
"I am confident that Jackie has the right combination of knowledge, energy, and passion for the work in finance to advance our growth aspirations and further position AB to succeed in the future with focus and discipline," Bernstein said in a statement.
Established in 2000 when Alliance Capital acquired Sanford C. Bernstein's 33-year-old investment firm, AB is majority owned by Equitable Holding and serves a wide variety of institutional and private investors, as well as financial professionals, through three business lines: research, asset management and wealth management, which comprises roughly a third of firm revenues.
Under its primary registered investment advisory business, AB serves more than 20,000 ultra-wealthy households, more than 2,500 retirement, pooled investment and philanthropic clients, a little over 1,000 corporations, and close to 60 each of insurance companies, municipalities and other investment advisors, according to a recent Form ADV filing.
On LinkedIn Tuesday, Marks expressed excitement and optimism about her new job.
Marks will be based in Nashville, where AB’s headquarters and finance team are located. She will join the firm's leadership team and sit on the operating committee.
Siemers will remain with the firm as a senior advisor. He took over the role from Kate Burke, who relieved him of interim duties in the summer of 2022 shortly after Ali Dibadj vacated the seat to join Janus Henderson as chief executive. Dibadj had replaced John Weisenseel, who held the role for almost nine years, in February 2021.