AllianceBernstein has announced that Michael Thompson, global head of institutions, will become CEO of Asia Pacific effective 1st January 2026.
The promotion comes as Ajai Kaul, current CEO of Asia Pacific, is set to retire at the end of the year after a 32-year career at the firm.
Thompson, who will relocate from London to Singapore, will oversee AllianceBernstein’s growth, client distribution and strategy across the Asia Pacific region.
The firm has also promoted its current Taiwan CEO Derek Yung to Deputy CEO for Asia Pacific.
In his newly expanded role, he will support the growth of AllianceBernstein’s presence across the Asia Pacific region, the firm said in a statement.
Seth Bernstein, President and CEO of AllianceBernstein said: “Mike and Derek both bring global client experience and operational success, making them exceptionally well-equipped to lead our Asia Pacific business.”
“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.”
In a joint statement, Thompson and Yung said: “We’re honored 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.”
