US investment giant AllianceBernstein has appointed Michael Thompson as the new CEO for the Asia Pacific region. Thompson will take over from current CEO Ajai Kaul, who is set to retire at the end of 2025 after a 32-year tenure. Derek Yung will serve as the deputy CEO for the region.

Thompson, with almost 30 years of experience in client management, will oversee regional growth, client distribution, and strategic initiatives. He will relocate from London to Singapore for his new role. Yung will support the firm’s expansion across diverse Asia Pacific markets.

AllianceBernstein president and CEO Seth Bernstein praised Thompson and Yung for their global client experience and operational success. The firm, managing $829bn in assets as of July 2025, aims to expand its presence in the region and serve a growing number of clients with diverse needs.

Thompson and Yung expressed their commitment to leading AB’s Asia Pacific region at a crucial juncture. They plan to deepen investments in dynamic markets, focusing on growth and innovation while prioritizing a client-first approach and global perspective to navigate complexity and deliver returns.

Read more at Yahoo Finance: AllianceBernstein appoints new CEO for Asia Pacific