Bernstein Private Wealth Management Plans for Inorganic Growth with New Leadership Appointments

Rhea-AI Summary

AllianceBernstein's (NYSE: AB) Bernstein Private Wealth Management unit announced three key leadership appointments to drive its inorganic growth strategy and ultrahigh-net-worth (UHNW) expansion. Craig Storch, a 25-year veteran, has been promoted to Senior Managing Director for Growth Strategies, while Neel Ray joins as Senior National Director and Marshall Butler as Head of Marketing.

The appointments support Bernstein's strategy to recruit experienced wealth advisors in strategic markets and acquire select registered investment advisors (RIAs). This initiative follows the January 2024 buildout of Bernstein's UHNW service team and complements the firm's 50-year history of organic talent development. The firm recently established a new office at Hudson Yards, New York City, in September 2024.

Positive

• Strategic expansion into UHNW segment with dedicated leadership appointments
• Dual growth strategy combining organic development with targeted acquisitions
• Addition of experienced executives with significant industry expertise
• Geographic expansion with new Hudson Yards office

Negative

• Potential integration challenges from planned RIA acquisitions
• Execution risks in transitioning to inorganic growth strategy

- New positions will support Bernstein's UHNW expansion in priority US Markets -

NEW YORK, July 8, 2025 /PRNewswire/ -- Bernstein Private Wealth Management ("Bernstein"), a unit of AllianceBernstein L.P. (NYSE: AB), today announced three new leaders to support its strategy for inorganic growth and ultrahigh-net-worth (UHNW) expansion. This news follows the buildout of Bernstein's ultrahigh-net-worth service team announced in January 2024.

Bernstein aims to further its growth and UHNW expansion with inorganic efforts including targeted recruiting of experienced wealth advisors in strategic markets and selectively acquiring registered investment advisors (RIAs). In line with this inorganic growth plan, Bernstein has elevated existing private wealth leadership talent while adding new executive hires. Craig Storch, a 25-year Bernstein veteran, will expand his existing national leadership responsibilities as a Senior Managing Director for Growth Strategies. Storch will team with Neel Ray, a newly appointed Senior National Director on the Growth Strategies team. In addition, Marshall Butler was recently hired as Bernstein's Head of Marketing. Ray, Storch, and Butler report to Aaron Bates, Head of Ultrahigh-Net-Worth and Growth Strategies.

Onur Erzan, Head of the Global Client Group and Private Wealth at AllianceBernstein commented: "We see consistent growth across our private wealth business and our UHNW segment has notable momentum.  Leveraging the resources of our global asset manager, Bernstein offers experienced wealth advisors a truly differentiated platform to scale their practices and improve their client outcomes. We excel in organic talent development and are open to bringing on experienced advisors to drive further business growth."

"At Bernstein, our success over more than 50 years has been built on exceptional, organic talent development," said Bates. "Our new inorganic growth plan complements that success as we continue to expand our UHNW platform in priority markets across the US." Bates added, "We offer advisors an uncommonly attractive platform to efficiently scale their practice and help their clients navigate the complexities of significant wealth. Our new hires and acquisitions will be thoughtful and intentional, based on several factors including a cultural fit and fiduciary mindset."

Storch boasts over 25 years at Bernstein in various leadership capacities, including as Principal and Wealth Advisor for high-net-worth families and institutions in the US and around the world. Storch previously oversaw the Miami, Tampa, and Atlanta offices. 

Ray brings over 25 years of experience in mergers and acquisitions to Bernstein. He previously served as the Head of Corporate Development at both World Investment Advisors and Envestnet. He has held senior corporate development roles at TD Ameritrade, TIAA, and Bank of America Merrill Lynch.

Butler brings over 20 years of marketing and communications expertise to the firm. He will focus on enabling advisor success, elevating the client experience, and building the Bernstein brand as a wealth management leader. Prior to joining Bernstein, Butler held senior marketing and communications leadership roles at Wells Fargo and BlackRock.

With the renewed focus and expansion, Bernstein will continue to introduce bespoke solutions tailored to the needs of UHNW clients including family offices and global families. The firm also opened a new office at the Spiral in Hudson Yards, New York City in September 2024.

About Bernstein Private Wealth Management

Bernstein Private Wealth Management advises ultrahigh- and high-net-worth clients on planning for—and living with—the complexities that come with significant wealth. Bernstein is distinguished among major wealth managers by its expertise in navigating life's transitions through a holistic approach. A flexible process—paired with innovative research, sophisticated modeling, and cutting-edge investment solutions—also set Bernstein apart. Headquartered in Nashville, Bernstein is a business unit of AllianceBernstein, which ranks among the largest investment managers in the world, with offices in major world markets across 26 countries and jurisdictions and $803 billion in assets under management. For additional information, visit Bernstein.com.

*As of May 31, 2025

Contact:

Katrina Clay

Director of Communications and Public Relations

katrina.clay@bernstein.com 

Prosek Partners

Pro-bernstein@prosek.com

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SOURCE Bernstein Private Wealth Management

FAQ

What are the key leadership changes announced by AllianceBernstein (NYSE: AB)?

AllianceBernstein announced three key appointments: Craig Storch as Senior Managing Director for Growth Strategies, Neel Ray as Senior National Director, and Marshall Butler as Head of Marketing.

What is Bernstein's new growth strategy for 2025?

Bernstein is pursuing inorganic growth through targeted recruiting of experienced wealth advisors and selective acquisition of registered investment advisors (RIAs), while maintaining its focus on UHNW clients.

Who is Craig Storch at AllianceBernstein (AB)?

Craig Storch is a 25-year Bernstein veteran who has been promoted to Senior Managing Director for Growth Strategies, previously overseeing the Miami, Tampa, and Atlanta offices.

What experience does Neel Ray bring to AllianceBernstein?

Neel Ray brings over 25 years of M&A experience, having served as Head of Corporate Development at World Investment Advisors and Envestnet, with previous roles at TD Ameritrade, TIAA, and Bank of America Merrill Lynch.

Where is Bernstein's new office located?

Bernstein opened a new office at the Spiral in Hudson Yards, New York City in September 2024.