NEW YORK, April 27, 2016 /PRNewswire/ -- AllianceBernstein L.P. ("AB"), a leading global investment management firm, today announced Jeff Eng has rejoined as Managing Director of custom defined contribution solutions. He will be responsible for driving the growth of AB's existing custom target-date offerings and Lifetime Income Strategy solution, while supporting the firm's broader initiative in digital delivery of retirement planning advice.
Jeff originally joined AB in 2001 as a Product Director in defined contribution, where he was involved in the development and launch of Lifetime Income Strategy, the first multi-insurer target-date fund with a guaranteed lifetime withdrawal benefit. The age-based, asset allocation program is designed to help employees convert their savings over time into a stream of guaranteed income that lasts throughout retirement. Prior to rejoining the firm, Jeff was Director of Retirement Income Solutions at Russell Investments.
"Our defined contribution business continues to grow and we are excited to have Jeff back on our team. He has an outstanding track record of developing and implementing innovative customized retirement solutions and was intimately involved in launching our Lifetime Income Strategy," said Richard Davies, Global Head of Defined Contribution at AB.
AB manages more than $46B in total defined contribution assets. Leveraging its open architecture experience as a leader in the custom space, AB has brought several innovative packaged solutions to the DC marketplace over the past few years, including an innovative multi-manager target-date mutual fund series launched in 2014, co-managed with Morningstar, that provides independent selection of funds from top investment managers in one target-date family, and a multi-manager target-date series in a collective investment trust (CIT) format in 2015 partnering with Mercer Investments for third-party manager selection.
To learn more about the AB's defined contribution solutions, go to www.abdc.com.
AB is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets.
At March 31, 2016, AB Holding owned approximately 36.4% of the issued and outstanding AB Units and AXA, one of the largest global financial services organizations, owned an approximate 63.2% economic interest in AB.
Additional information about AB may be found on our website, www.abglobal.com.
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SOURCE AllianceBernstein L.P.