AllianceBernstein hires Franklin Templeton director as UK CEO

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US fund manager AllianceBernstein has appointed Jamie Hammond as its head of the EMEA client group and chief executive.

Hammond, who previously worked at Franklin Templeton as managing director of Europe, will report to the global head of the firm’s client group Robert Keith. His appointment is subject to regulatory approval.

Before Franklin Templeton, Hammond was the sales and marketing director for Europe at wealth adviser Fiduciary Trust International.

Hammond takes over the executive role nearly a year since former AllianceBernstein boss Tim Ryan left the firm in February 2015.

Keith says: “Jamie has a proven track record in leading retail and institutional businesses across Europe and shares AllianceBernstein’s intense focus on providing relevant, client-focused solutions.

“Under his leadership we will continue to innovate and expand our offerings to help investors navigate today’s volatile capital markets and further extend our footprint in this important region for AllianceBernstein.”

Hammond’s departure from Franklin Templeton comes after a difficult year for the firm which in November 2015 saw outflows of $6.7bn (£4.5bn) in open-end funds, money market funds and ETFs worldwide, according to Morningstar.

Additionally, the firm’s Templeton Global Bond Fund and Franklin Income Fund have suffered a combined €727m (£533m) in outflows as of November 2015.