AllianceBernstein Holding may benefit from a tighter embrace by majority shareholder AXA, but the two companies need to do a better job explaining how. Investors in the U.S. asset manager woke up on Monday to a sudden shake-up of its management. Chairman and Chief Executive Peter Kraus is out, along with eight other board members. Former World Bank President Robert Zoellick will replace Mr. Kraus as chairman, and Seth Bernstein,...

Source: Wall Street Journal May 01, 2017 18:33 UTC