Alliance Capital Management has announced key appointments in its division that markets to banks and financial planners.

The New York-based mutual fund company named Byron Davis national sales manager of the financial institutions and advisers division, according to a letter by Richard Davies, the division's senior vice president, to bank clients.

Mr. Davis will provide a senior management presence on the West Coast. He was previously senior vice president and divisional sales manager for Alliance's sales representatives in the western states.

Alliance also hired James Cronin from Aim Management Group, Houston. Mr. Cronin was appointed senior vice president and eastern regional sales manager.

At Aim, Mr. Cronin was a sales representative targeting stockbrokers.

Mr. Davies also said he is beefing up the number of sales representatives targeting banks from five to 14 by yearend.

The hirings come a month after Alliance restructured its bank sales division. Mr. Davies, the division's former chief, now has only financial planners under his supervision.

"This initiative represents a multimillion dollar investment for Alliance over the next several years," Mr. Davies wrote.

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