Double manager exit as AllianceBernstein restructures growth team

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AllianceBernstein has made changes to its global growth team which has seen two managers leave the US firm, Citywire Global can reveal.

Fund managers Robert Alster and Catherine Wood, who were based in the firm's London and New York office respectively, have left the firm to pursue other opportunities.

The London-based Alster previously co-ran the AllianceBernstein Global Growth Trends fund and it is not yet known what his future plans are.

New York-based Wood had been running the AllianceBernstein US Thematic Research fund since January 2008 and was also the firm's CIO of Thematic Portfolios.

Her fund has now been taken over by Dan Roarty - the head of the firm's global growth and thematic portfolios - and Tassos Stassopoulos

Roarty and Stassopoulos have also taken over Alster's Global Growth Trends fund with fellow manager Amy Raskin.

A spokesperson told Citywire Global the reason for the changes to these funds was to simplify their structure.

'There are many synergies between Growth and Thematic investing, especially the importance of identifying key secular growth trends. Combining the teams will improve our ability to do so.'