Alliance Capital Management has named Kurt Schoknecht as senior vice president of offshore mutual funds strategic business development.

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Deutsche Bank

Alliance Capital

Schoknecht, 48, was formally business manager of the Latin America and global banking groups at Deutsche Bank. Information about his former position was unavailable.

As of August 2, Schoknecht will be reporting to Jon Groom, head of Alliance Capital's offshore mutual funds. Part of his new responsibilities will be to attract new clientele. He will be in charge of creating new business plans for mutual funds in the local market and making distribution arrangements for Alliance's funds.

"Kurt's experience and background will be an invaluable addition to the management team as we move to the next level of development outside the U.S.," Groom said.

"Alliance has been giving a lot of attention to Europe. I think it part of the fact that the U.S. market is mature, and there is a new wealth of other opportunities outside the U.S.," a spokesperson for Alliance said.

Shira Zachai, a spokesperson for Alliance said, that this offshore addition is the first of many.  

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