A top retirement executive at AllianceBernstein [profile] is leaving the business at the end of the month to become a teacher. Defined contribution investments chief Tom Fontaine confirmed to our sister publication, The 401kWire, that he is moving to the Denver and teaching, probably math.

"The timing seems exactly right," Fontaine said. "I felt that I could step out of the business and not adversely impact."

Seth Masters, chief investment officer for asset allocation, will continue to be CIO for DC and will oversee Tom's direct reports, including: Mark Fortier, head of product and strategy; Joe Healy, head of the client experience; David Hutchins, head of UK research and investment design; and Chris Nikolich, head of US research and design.

"In some ways this is a return to what we originally had in the team. Most of these team leaders reported to me initially," Masters said. "Tom emerged really as my key lieutenant in the effort."

As of March 31, AllianceBernstein boasted about $18 billion in target-date assets, including about $16 billion in custom target-date funds. That compares with $5 billion in total target date assets in 2008. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE