Products December 21, 2011

Dow Jones and UBS Securities Launch Index

Dow Jones Indexes and UBS Securities LLC launched the Dow Jones-UBS Commodity Index 2-4-6 Forward Blend.  
Reported by

The new index is a gauge that measures diversified exposure to longer-dated commodity futures contracts spread across the commodity price curve.

An enhanced version of the Dow Jones-UBS Commodity Index, the Dow Jones-UBS Commodity Index 2-4-6 Forward Blend reflects the return of underlying commodity futures price movements. Also introduced was a total return version of the index, which reflects the return on fully collateralized futures positions.

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The index is constructed as an equally weighted basket of the two-month, four-month and six-month forward versions of the Dow Jones-UBS Commodity Index, with the notional exposure to the three component indexes rebalanced at the end of every month so that each index represents one-third of the basket. The index is quoted in USD.

“This new gauge is a welcome addition to the Dow Jones-UBS Commodity Index family,” said Michael A. Petronella, president, Dow Jones Indexes. “The Dow Jones-UBS Commodity Index 2-4-6 Forward Blend tracks diversified exposure across a range of longer-dated commodity contracts—a measure growing in importance for this asset class.” 

Deals & People December 21, 2011

AllianceBernstein Announces Management Changes

James A. Gingrich is the new chief operating officer, effective immediately.  
Reported by

With these changes, the company aims to improve the execution of its long-term strategy of diversifying the mix of investment services it offers to clients, and increasing operating leverage. The personnel changes include:

  • James A. Gingrich, chairman and CEO of the firm’s sell-side research subsidiary, Sanford C. Bernstein & Co., will assume the role of chief operating officer of AllianceBernstein, effective immediately.
  • Robert P. van Brugge, global director of research at Sanford C. Bernstein & Co., will succeed Gingrich as chairman and CEO of Sanford C. Bernstein & Co.
  • Robert M. Keith, co-head of institutional and retail distribution, will assume sole responsibility for client service, sales and marketing in those channels, globally.
  • Lawrence Cohen, chief technology officer, will head both Technology and Operations.

The firm’s current COO, David A. Steyn, and co-head of institutional and retail sales and marketing, Gregory J. Tencza, will be leaving the firm effective January 3, 2012. The director of operations, Richard G. Taggart, will be leaving the firm on January 31, 2012.

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In his new role, Gingrich will be responsible for all sales and marketing efforts related to the firm’s asset management business as well as its finance, legal, operations and technology infrastructure. Van Brugge, Keith and Cohen will report to Gingrich. Investment management and trading will continue to report directly to Kraus.

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