Alexander Chaloff
About Alexander Chaloff
Alexander Chaloff (age 53) is Chief Investment Officer and Head of Investment & Wealth Strategies at Bernstein Private Wealth Management and is standing for election as a Class Two Director of AllianceBernstein Global High Income Fund, Inc. (AWF) with a term ending at the 2026 annual meeting; he has 0 years of board service as of the 2025 meeting . He is an “interested person” under the Investment Company Act due to his affiliation with the Adviser (AllianceBernstein L.P.), not an independent director . Education: BA in Government & Politics (University of Maryland, College Park) and MBA in Corporate Finance (USC Marshall School of Business); based in Los Angeles, CA .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Bernstein Private Wealth Management | Chief Investment Officer; Head of Investment & Wealth Strategies | Since Apr 2023 | Leads investment platform and strategy development |
| Bernstein Private Wealth Management | Co‑Head, Investment Strategy Group | Since 2020 | Built advice models; innovation in asset allocation |
| SCB Funds and AB Multi‑Manager Alternative Fund (AMMAF) | President and CEO | Since Apr 2023 | Oversight of AB funds; operational leadership |
| Bernstein Private Wealth Management | Senior roles prior to CIO (joined 2005) | Since 2005 | Portfolio strategy leadership |
| Wilshire Associates | Managing Director; Served on Investment Committee | Pre‑2005 | Institutional consulting, investment committee service |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Public company boards | None | — | No public company directorships |
| Unitary Board of AB Funds Complex | Director/Trustee | Since Jan 2025 | Governance across AB mutual funds/ETFs/closed‑ends |
Board Governance
- Status and tenure: Standing for election as Class Two Director (term through 2026); 0 years of service as of the 2025 meeting .
- Independence: “Interested Director” due to affiliation with the Adviser (AllianceBernstein L.P.) .
- Committees: The Board’s standing committees (Audit, Governance & Nominating, Independent Directors Committee) are composed exclusively of Independent Directors; interested directors do not serve on these committees .
- Meeting cadence and engagement: Board met four times in fiscal 2024; Independent Directors meet in executive session at every Board meeting .
- Board leadership: Independent Chair (Garry L. Moody) sets agendas and facilitates independent oversight; structure mandated and reinforced by 2003 regulatory settlements .
- Transition note: Upon Chaloff’s election, Onur Erzan will resign as a Class Two Director of each Fund (contingent resignation) .
Fixed Compensation
| Component | AWF (AGHIF) | AWF (ANMIF) | Notes |
|---|---|---|---|
| Director fees paid by Fund (while “interested person”) | $0 | $0 | Funds do not pay fees or reimburse expenses to any director during periods they are “interested persons” |
| Pension/retirement benefits from Funds | None | None | No pension/retirement benefits for directors; 2024 one‑time benefit applied to other boards via Adviser fee waiver (not applicable to AWF directors) |
Performance Compensation
| Performance‑linked element | Status | Metrics/Targets | Source |
|---|---|---|---|
| Fund‑paid performance awards to directors | None | N/A | AWF does not use performance‑linked compensation for directors; “interested persons” receive no Fund fees |
No bonus/RSU/option awards, clawbacks, CIC/severance, or ownership guidelines for directors are disclosed in AWF’s proxy; those elements are not applicable to Fund directors in this filing .
Other Directorships & Interlocks
| Company/Entity | Role | Overlap/Interlock | Risk Consideration |
|---|---|---|---|
| None (public companies) | — | — | No public interlocks reported |
| AB Funds Complex (Unitary Board) | Director/Trustee | Cross‑fund governance within AB complex | Affiliation with Adviser increases conflict sensitivity; mitigated by independent Chair/committees |
Expertise & Qualifications
- CIO & Head of Investment & Wealth Strategies (Bernstein PWM); deep investment management and portfolio strategy expertise .
- Prior institutional consulting and investment committee experience at Wilshire Associates; senior leadership across AB funds .
- Education: BA (UMD) and MBA (USC Marshall) with finance concentration .
Equity Ownership
| Metric | AWF (AGHIF) | AWF (ANMIF) | AB Funds Complex Aggregate |
|---|---|---|---|
| Dollar range of equity securities beneficially owned (as of Dec 31, 2024) | None | — | $10,001–$50,000 |
| Shares outstanding (Record Date) | 86,229,677 common | 28,744,936 common; 2018 Term Preferred 3,531; 2024 VRDP 4,000 | — |
| Ownership as % of shares outstanding | 0.00% (None/86,229,677) | — | — |
| Pledged shares as collateral | Not disclosed | — | — |
Insider Trades
| Date | Security | Transaction | Quantity | Price | Source |
|---|---|---|---|---|---|
| Not disclosed in proxy | — | — | — | — | AWF proxy statements do not include Form 4 trading data |
Form 4 insider transactions for AWF directors are not presented in the DEF 14A; no additional insider trading records were retrieved here.
Governance Assessment
-
Strengths
- Board structure features Independent Chair and committees composed exclusively of Independent Directors, with regular executive sessions—supports robust oversight of Adviser relationships .
- Audit oversight framework (charter, pre‑approval policies) and disclosure of audit/non‑audit fees indicate process discipline and transparency .
-
Concerns/RED FLAGS
- Interested Director status: As a senior executive of the Adviser and an “interested person,” Chaloff is not independent; this elevates potential conflicts in areas involving the Adviser (management contracts, fees, performance evaluation) .
- Ownership alignment: No AWF holdings reported as of Dec 31, 2024; alignment relies on professional role rather than personal stake in AWF .
- Advisory affiliation breadth: Concurrent leadership roles across AB funds (President/CEO of SCB Funds and AMMAF, Unitary Board director/trustee) amplify interlocks within the AB complex; independence mitigants must remain strong .
-
Implications for investors
- Expect Chaloff to contribute significant investment strategy and portfolio construction expertise; however, as an interested director, his presence heightens the importance of the independent Chair and committees for protecting shareholder interests in negotiations and oversight of the Adviser .
- Absence of AWF share ownership and lack of Fund‑paid compensation reduce direct financial alignment with AWF shareholders; monitoring of governance practices and independent committee decisions remains key .