AllianceBernstein
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| Type | Publicly traded partnership |
|---|---|
| Traded as | NYSE: AB |
| Industry | Asset Management |
| Founded | 1967[1] |
| Headquarters | New York City, NY, USA |
| Key people | Peter S. Kraus, Chairman & CEO David A. Steyn, Chief Operating Officer |
| Products | Equities, fixed income, index funds, alternative investments, Independent Investment Research, Trading and Brokerage-Related Services |
| Revenue | $758 million (Q3-2010) |
| Employees | Approx. 3,500 |
| Parent | AXA Group |
| Website | www.alliancebernstein.com |
AllianceBernstein LP (NYSE: AB) is a US-based, global asset management firm, owned by the French insurance conglomerate, AXA, with approximately $402 billion in assets under management, as of September 30, 2011.
AllianceBernstein provides solution-based diversified investment management services worldwide to institutional, high-net-worth and retail individuals. AllianceBernstein’s investment services encompass value and growth equities, blend strategies, fixed income, alternatives, and asset allocation. AllianceBernstein also provides independent investment research, trading and brokerage-related services to institutional clients through Sanford C. Bernstein & Co. LLC and its London-based affiliate.
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[edit] History
AllianceBernstein was the product of a merger between two well-established firms, Alliance Capital and Sanford C. Bernstein & Co. initiated by its parent corporation, the AXA Group. Bernstein traces its origins back more than 40 years to when Sanford C. Bernstein founded the firm in 1967, as an investment-management firm for private clients. 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. In October 2000, Alliance Capital acquired Sanford C. Bernstein to form AllianceBernstein.[1] In 2010 the firm announce plans to develop a risk parity strategy for its pension schemes that seek growth while minimizing volatility. [2]
[edit] Scope of clients
AllianceBernstein serves several distinct groups of clients. They include private, institutional and retail clients. AllianceBernstein’s institutional clients consist of foundations & charities, sovereign wealth funds & central banks, financial services firms and insurance companies. AllianceBernstein’s sell-side research unit, Sanford C. Bernstein & Co. LLC., serves investment managers and investment consultants who use Bernstein’s research, quantitative strategies and tools, portfolio strategies and equity-trading execution.
AllianceBernstein’s asset management business operates in Europe, Asia, Pacific Rim, and the Americas.[1]
[edit] Executive officers
- Peter S. Kraus: Chairman of the Board of Directors and Chief Executive Officer
- David Steyn: Chief Operating Officer
- Laurence E. Cranch: General Counsel
- James Gingrich: Chairman and Chief Executive Officer, Sanford C. Bernstein, LLC
- John B. Howard: Chief Financial Officer
- Lori Massad: Head of Human Capital and Chief Talent Officer[3]
[edit] Company news
- October 2000 – Alliance Capital acquires Sanford C. Bernstein[4]
- December 2003 – Alliance Capital Management Will Pay Record $250 Million and Make Significant Governance and Compliance Reforms To Settle SEC Charges[5]
- February 2006 – Alliance Capital renamed to AllianceBernstein[6]
- March 2007 – AllianceBernstein named #1 on Forbes' list of the 10 Most Trustworthy US Companies[7]
- September 2008 – AllianceBernstein down 75%, looks to rebound[8]
- December 2008 – Lewis A. Sanders announces his retirement and Peter Kraus is named as new CEO of AllianceBernstein[9]
- April 2009 – The US Treasury names AllianceBernstein as one of the three asset managers to help value and manage the TARP assets[10]
- July 2009 – Sanford C. Bernstein is named #1 in every metric by Greenwich Associates[11]
- 2009 – AllianceBernstein launches Dynamic Asset Allocation tool set[12]
- May 2010 – AllianceBernstein launches a suite of new websites[13]
- June 2010 – AllianceBernstein is selected to Manage Dynamic Asset Allocation Portfolio for Transamerica Variable Annuity Products[12]
- October 2010 – AllianceBernstein acquires SunAmerica alternative investments group[14]
- December 2010 – Bernstein Launches Web 'Microsite' on Advice about Selling a Business[15]
- February 2012 – Further lay-offs continue bringing employee count possibly to 3000.
[edit] See also
[edit] References
- ^ a b c Alliancebernstein.com
- ^ Global Pensions, AllianceBernstein plans risk parity strategy, Oct 6 2010,
- ^ Alliancebernstein.com
- ^ Hakim, Danny (2000-06-21). "The Markets: Market Place; Alliance Capital Linking Up With Bernstein". The New York Times. http://www.nytimes.com/2000/06/21/business/the-markets-market-place-alliance-capital-linking-up-with-bernstein.html?scp=8&sq=sanford%20bernstein&st=cse.
- ^ "Alliance Capital Management Will Pay Record $250 Million and Make Significant Governance and Compliance Reforms To Settle SEC Charges". Sec.gov. 2003-12-18. http://www.sec.gov/news/press/2003-176.htm. Retrieved 2010-07-09.
- ^ "Alliance Capital Management Holding L.P. Announces Fourth Quarter Diluted Net Income of $1.02 per Unit and Declares a $1.02 per Unit Cash Distribution. - Free Online Library". Thefreelibrary.com. http://www.thefreelibrary.com/Alliance+Capital+Management+Holding+L.P.+Announces+Fourth+Quarter...-a0141266064. Retrieved 2010-07-09.
- ^ Forbes.com
- ^ "AllianceBernstein, Down 75%, Looks to Rebound - Investing - Stocks". SmartMoney.com. 2008-12-04. http://www.smartmoney.com/investing/stocks/alliance-agonistes/. Retrieved 2010-07-09.
- ^ "Peter S. Kraus Becomes Chairman and CEO of AllianceBernstein, to Join AXA's Management Board in 2009". Newsblaze.com. 2008-12-22. http://newsblaze.com/story/2008122201030200001.pnw/topstory.html. Retrieved 2010-07-09.
- ^ Bailoutsleuth.com
- ^ Greenwich.com
- ^ a b "AllianceBernstein Selected to Manage Dynamic Asset Allocation Portfolio for Transamerica Variable Annuity Products - Online Investment Community". World Market Media. 2010-03-31. http://www.worldmarketmedia.com/1876/section.aspx/1683452/alliancebernstein-selected-to-manage-dynamic-asset-allocation-portfolio-for-transamericavariable-annuity-products. Retrieved 2010-07-09.
- ^ Marketwatch.com
- ^ "AllianceBernstein acquires SunAmerica alternative investments group". NewStatesman. 2010-10-05. http://www.newstatesman.com/banking-and-insurance/2010/10/fund-alliancebernstein. Retrieved 2011-07-01.
- ^ "Bernstein Launches Web 'Microsite' on Advice about Selling a Business". Yahoo! Finance. 2010-12-02. http://finance.yahoo.com/news/Bernstein-Launches-Web-prnews-3049083910.html?x=0&.v=1. Retrieved 2011-07-01.
