AllianceBernstein has named Sharon Fay, a 20-year veteran of the firm, as its new CIO of equities.

In the newly created position, Fay, previously head of value equities, will be responsible for overseeing the functions of the growth and value investment services teams. According to the July 26 announcement, the New York- and London-based money manager said that she has been a “pioneer in international and global investing and has transformed the firm’s value investments into a global platform.”

Alternately, AllianceBernstein also revealed that Head of Growth Equities Lisa Shalett, would leave the firm to “pursue another opportunity.”

In a conversation this afternoon, firm spokesperson John Meyers told IMW that Fay will assume Shalett’s responsibilities in the growth field and that she will also hold onto her value role as well. 

“Sharon is an experienced investor with a proven track record of delivering superior investment results for our clients,” commented AllianceBernstein Chairman and CEO Peter Kraus said in the statement. “She has demonstrated the leadership skills necessary to continue building and strengthening our style-pure equity platforms, as well as shaping them to meet the ever-changing needs of our clients around the globe.”

In her prior roles, Fay held numerous positions within the “geographically diverse portfolio management” realm such as being its CIO of global value equities. She first joined as a research analyst, the press release said.

Currently, AllianceBernstein provides “high-quality research and diversified investment services” to its institutional, individual and private clients. It has more than 500 investment pros strictly focused on growth and value equities, fixed-income and blend strategies and alternative investments.