Bernstein Private Wealth Management (Bernstein), part of American asset manager AllianceBernstein (AB), has appointed James Seth Thompson to the newly created position of head of diverse markets strategy.

Thompson will spearhead work to build relationships with multicultural HNWIs and their families, business owners, institutions and not-for-profit organisations, and help them gain access to Bernstein’s research and investment planning services.

Thompson most recently headed business development, marketing strategy and programme execution at AB’s global insurance unit. He previously served a similar responsibility in the firm’s North America institutional and insurance services units.

He also served at external organisations focussed on diversity and inclusion (D&I).

Bernstein senior managing director Joel Stevens said: “We believe strongly that this role presents us a significant opportunity to attract and better serve investors in this fast-growing segment of the market.

“We’re thrilled to partner with diverse accountants, attorneys, consultants and investment bankers to introduce Bernstein’s services to a broader opportunity set of clientele as well as to enhance our ability to attract and develop diverse talent.”