Alliance CEO Sanders Takes on Chairman Title

At a time when mutual fund companies are increasingly separating the duties of chairman and chief executive officer, Alliance Capital Management has announced that it was doing just the opposite, tagging chief executive officer Lewis Sanders with the additional title of chairman. Bruce Calvert, Alliance's current board chairman, is set to leave Dec. 31, at which time Sanders will take over. Sanders, 58, has been the firm's CEO since June 2003.

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