The independent asset manager Allspring Global Investments on 2 April announced the appointment of Kate Burke as CEO, effective 1 July 2025. Before joining Allspring in 2023, Burke worked at the global investment management firm AllianceBernstein as chief financial officer, chief operating officer and chief administrative officer and at Bernstein Private Wealth Management as head of private wealth. She also spent 12 years at Bernstein Research, where she held the position of managing director.
Burke will replace Joe Sullivan, who had been at the helm of Allspring Global Investments since 2021. Sullivan who will continue to serve as executive chair of the board. “Kate has been a great fit with our organisation and shares our mission,” Sullivan commented in a press release. “Since joining the team in 2023, Kate has established herself as a skilled leader who combines deep experience in asset management and an understanding of the power of people to build culture and deliver results. She has a strong client orientation, a passion for operational excellence, and a focus on maintaining strong investment performance. I am proud to pass the torch to her as she leads Allspring into the future.”
“Since Allspring began its journey as an independent firm, Joe Sullivan’s vision and leadership has had profound impacts on the organisation, its strategy and momentum. His guidance, people-orientation and the culture he established will continue to serve our leadership team, Allspring employees, and, most of all, our clients,” Burke said. “With this solid foundation, I am honoured and humbled to be tasked with leading Allspring into our next chapter.”
As of 31 December 2024, Allspring Global Investments has more than $605bn in assets under advisement, offices in the US, London, Luxembourg, Paris, Frankfurt, Nassau, Milan, Singapore, Hong Kong, Tokyo and Australia, and over 400 investment professionals. Allspring Global Investments Luxembourg had 23 staff members as at the end of 2023, according to the latest annual accounts available on the business registry.