Alliance Bernstein, the US investment manager, is to relocate the role of its global investment chief to London following the retirement of Andrew Adelson.

Sharon Fay will take over the role of global value equity chief at the end of this year when New York-based Adelson retires. She will report to Marilyn Fedak, who retains her role as US large cap chief investment officer. Fay works in Alliance Bernstein's four-year-old London office in her current role as pan-European investment chief.