US investment giant AllianceBernstein has named Michael Thompson as the new CEO for the Asia Pacific region.
The leadership transition comes as Ajai Kaul, the current CEO for Asia Pacific, prepares for retirement at the end of 2025, marking the end of a 32-year tenure with the company.
Additionally, Derek Yung, presently serving as the chief executive of the company’s Taiwan operations, has been appointed as the deputy CEO for the Asia Pacific region.
Thompson, who has nearly 30 years of experience in client management and financial services, most recently served as the company’s global head of institutions.
In the new role, Thompson will be responsible for the firm’s regional growth, client distribution, and strategic initiatives.
He will be relocating from London to Singapore to assume his new role.
In the new role, Yung will be responsible for supporting the firm’s expansion and success across the diverse Asia Pacific markets, the company said.
AllianceBernstein president and CEO Seth Bernstein said: “Mike and Derek both bring global client experience and operational success, making them exceptionally well-equipped to lead our Asia Pacific business.
“We thank Ajai for his extraordinary contributions to our firm over the last 32 years. I look forward to this new leadership building upon the strong foundation Ajai established, including expanding our presence across the region and serving a growing number of diverse clients.”
AllianceBernstein has been offering investment services to institutional investors, individuals, and private wealth clients around the world.
As of July 2025, the firm had $829bn in assets under management.
In a joint statement, Thompson and Yung stated: “We’re honoured to assume leadership of AB’s Asia Pacific region at a pivotal moment. As we deepen our investment in these dynamic markets – alongside our people and technology – we will focus on unlocking opportunities for growth and innovation.
“Above all else, AB’s client-first approach and global perspective uniquely position us to help investors navigate complexity and deliver risk-adjusted returns.”
“AllianceBernstein appoints new CEO for Asia Pacific ” was originally created and published by Private Banker International, a GlobalData owned brand.
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