Key Takeaways
- • Equitable Holdings and Corebridge Financial named Lisa Longino chief investment officer of the combined company, which will operate under the Equitable name once the merger closes.
- • Longino will lead investment strategy for the merged company's approximately $366 billion general account.
- • The combined company will serve more than 12 million customers and manage $1.5 trillion in AUM and AUA across retirement, life, wealth and asset management.
- • Mark Pearson, Equitable's president and CEO, will become executive chair; Seth Bernstein continues as CEO of AllianceBernstein.
- • The all-stock merger, announced March 26, is expected to close by the end of 2026, subject to shareholder and regulatory approvals.
Summary
Equitable Holdings Inc. and Corebridge Financial Inc. announced on Tuesday the leadership team for the company that will result from their merger, according to the announcement reported by the publication. The most consequential appointment is Lisa Longino as chief investment officer. Longino has served as Corebridge's CIO since 2023 and will take the same role with the new company, which will operate under the Equitable name upon completion of the merger. She will lead investment strategy for the company's approximately $366 billion general account.
The combined entity will have more than 12 million customers across retirement, life, wealth and asset management businesses, with $1.5 trillion in assets under management and administration. Corebridge had more than $380 billion in AUM and AUA, while Equitable had $1.1 trillion as of March 31. Before joining Corebridge, Longino was head of global investment strategy at Prudential Financial, and she previously spent more than 22 years at MetLife. She also served as an assistant portfolio manager at Independent Life.
Other appointments include Seth Bernstein, who will continue as CEO of AllianceBernstein, the combined company's global asset management business, and Onur Erzan, president of AllianceBernstein since January, who remains in that role. John Byrne will lead individual distribution, including annuities and life insurance; David Karr will lead wealth management; Bryan Pinsky will lead individual retirement and life insurance; Steve Scanlon will lead group retirement and employee benefits; David Ditillo becomes chief information technology officer; Jeffrey Hurd becomes chief operating officer and chief human resources officer; Polly Klane becomes general counsel and chief legal officer; and Julia Zhang becomes chief risk officer.
Mark Pearson, Equitable's president and CEO, will serve as executive chair of the new company. In a statement, he said that combining the two organizations requires attention to culture as well as capabilities, and that the leadership team is committed to building a new culture that draws on the strengths of both firms. The all-stock merger, announced March 26, is expected to close by the end of 2026, subject to shareholder and regulatory approvals.
The combined entity will have more than 12 million customers across retirement, life, wealth and asset management businesses, with $1.5 trillion in assets under management and administration. Corebridge had more than $380 billion in AUM and AUA, while Equitable had $1.1 trillion as of March 31. Before joining Corebridge, Longino was head of global investment strategy at Prudential Financial, and she previously spent more than 22 years at MetLife. She also served as an assistant portfolio manager at Independent Life.
Other appointments include Seth Bernstein, who will continue as CEO of AllianceBernstein, the combined company's global asset management business, and Onur Erzan, president of AllianceBernstein since January, who remains in that role. John Byrne will lead individual distribution, including annuities and life insurance; David Karr will lead wealth management; Bryan Pinsky will lead individual retirement and life insurance; Steve Scanlon will lead group retirement and employee benefits; David Ditillo becomes chief information technology officer; Jeffrey Hurd becomes chief operating officer and chief human resources officer; Polly Klane becomes general counsel and chief legal officer; and Julia Zhang becomes chief risk officer.
Mark Pearson, Equitable's president and CEO, will serve as executive chair of the new company. In a statement, he said that combining the two organizations requires attention to culture as well as capabilities, and that the leadership team is committed to building a new culture that draws on the strengths of both firms. The all-stock merger, announced March 26, is expected to close by the end of 2026, subject to shareholder and regulatory approvals.
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