AllianceBernstein

AllianceBernstein Holding L.P. (AB) is a global asset management firm providing investment management and research services worldwide to institutional, high-net-worth and retail investors.

AllianceBernstein Holding L.P.
TypePublicly traded partnership
NYSE: AB
IndustryAsset management
Founded1967 (1967)
FounderZalman Bernstein
Paul P. Bernstein
Shepard D. Osherow
Roger Hertog
Lewis A. Sanders.
HeadquartersNew York City
Area served
Worldwide
Key people
Seth Bernstein, CEO,
Ramon de Oilveira, Chairman,
Kate Burke, Chief Operating Officer,
John C. Weisenseel, CFO
Laurence E. Cranch, Chief Legal Officer
ProductsAsset management, Mutual funds, Sell-side research, private wealth management
OwnerEquitable Holdings (64%)
Number of employees
3,762
Websitealliancebernstein.com

AllianceBernstein's headquarters are located in New York City, though the firm is in the process of relocating to Nashville, Tennessee; the firm also has locations throughout the world. It has approximately US$581 billion in assets under management as of June 30, 2019.[1] It is 64 percent owned by the French insurance conglomerate, AXA.[2]

History

Origins

AllianceBernstein traces its origins back to the founding of Sanford C. Bernstein in 1967 as an investment-management firm for private clients. Sanford C. Bernstein & Company was originally co-founded by Zalman Bernstein, Paul P. Bernstein, Shepard D. Osherow, Roger Hertog and Lewis A. Sanders.[3]

Alliance Capital was founded in 1971 when the investment-management department of Donaldson, Lufkin & Jenrette, Inc. merged with the investment-advisory business of Moody's Investor Services, Inc.[4]

2000–2015

In October 2000, Alliance Capital acquired Sanford C. Bernstein.[5] Alliance Capital's growth equity and corporate fixed-income investing, and its family of retail mutual funds, accompanied Bernstein's value equity and tax-exempt fixed-income management and its private-client business.

It had approximately US$800 billion assets under management as of the end of 2007.[6]

2015

On January 20, 2015, AllianceBernstein announced a new brand name ("AB") and logo.[7]

2018

In February 2018, a senior research analyst of the firm, Paul Gait,[8] defined the Democratic Republic of Congo (DRC)– a country rich in cobalt, which is essential to the lithium-ion batteries that drive electric vehicles –as economically "the Saudi Arabia of the electric vehicle age."[9]

AllianceBernstein also have announced the move of their global headquarters and csuite from New York City to Nashville, while also having an office remaining in Midtown in New York City.

Organization

Institutional investment management

AllianceBernstein provides investment services and solutions for institutions across the globe. Typical clients include Defined benefit pension plans and Defined contribution plans. It has approximately US$498 billion in assets under management as of June 30, 2017.[10] It is 64 percent owned by the French insurance conglomerate, AXA.[11]

Retail distribution

The retail part of AllianceBernstein provides financial professionals and individual investors with the investment solutions, research, insights and tools that cover mutual funds, Managed Accounts, College Saving, Retirement Saving, and Insurance Services.[12]

Sell-side research

Sell-side research and brokerage services are provided by wholly owned subsidiary Sanford C. Bernstein, also known as Bernstein Research.[13]

Private wealth management

Bernstein Wealth Management, part of AllianceBernstein, provides investment and wealth-planning services for high-net-worth clients in the Americas[14]

529 savings plan

Rhode Island's 529 savings plan, CollegeBoundfund®, was managed by AllianceBernstein and featured AllianceBernstein mutual funds until 2016.[15] It is now administered by Ascensus College Savings.[16]

Headquarters and locations
AB headquarters

AllianceBernstein's global headquarters are located in Nashville, TN at the Fifth and Broadway development, having recently moved from Midtown Manhattan in New York City.[17] AllianceBernstein has offices in 46 locations across 22 countries.[18]

Ownership

According to its Form 8-K report as of Jan 29, 2015,[19] the French Insurance and Investment Bank AXA owned an approximate 64% economic interest in AllianceBernstein.

See also

References
  1. "AB Official Website".
  2. AllianceBernstein Holding LP, New York Times, June 3, 2015
  3. "Shepard D. Osherow, Co-Founder Sanford C. Bernstein and Company". yourcompanyswebsite.com. Archived from the original on 2015-12-23. Retrieved 2015-12-23.
  4. "Our History". AB. Retrieved 2020-03-16.
  5. "Alliance Capital to Buy Sanford C. Bernstein".
  6. Kerber, Ross; McLaughlin, Tim (2 May 2017). "AllianceBernstein parent abruptly removes CEO Kraus, directors". Reuters. Retrieved 4 May 2017.
  7. http://www.prnewswire.com/news-releases/alliancebernstein-launches-new-branding-initiative-300022339.html
  8. Bernstein 10th Annual Pan-European Conference Strategic Decisions 2013, AllianceBernstein LP, Sanford C. Bernstein Ltd., 2013. Retrieved November 21, 2018.
  9. Mining Journal "The [Ivanhoe] pullback investors have been waiting for", Aspermont Ltd., London, UK, February 22, 2018. Retrieved November 21, 2018.
  10. "Fourth Quarter Fact Sheet" (PDF).
  11. AllianceBernstein Holding LP, New York Times, June 3, 2015
  12. "AB Retail website".
  13. "Bernstein Research Website".
  14. "Bernstein Global Management website".
  15. "List of 529 plans".
  16. Anderson, Patrick. "R.I. chooses new manager for CollegeBoundfund". Retrieved 2016-08-08.
  17. Cheng, Evelyn (May 2, 2018). "An old Wall Street money manager with $500 billion is moving to Nashville from Manhattan to save money". CNBC. Retrieved 6 October 2019.
  18. "AB Locations".
  19. "Company Information on SEC Website".
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