Alliance Capital has promoted Michael Snyder to director of high yield, in charge of a group overseeing some $10 billion in assets, according to a person at the firm. Snyder replaces Greg Dube, who left Alliance last month (BW, 8/11). Prior to the promotion, Snyder had been a portfolio manager and senior v.p. at Alliance, which he joined last year. He has previously worked as head of high yield at Donaldson, Lufkin & Jenrette Asset Management and Bear Stearns Asset Management. He also worked for some 10 years in the high-yield money management group at Prudential Securities. He will report to Kathleen Corbet, ceo of fixed-income. Snyder declined comment.
Alliance Appoints New U.S. Junk Head