AllianceBernstein
 | |
 Headquarters at 501 Commerce in Nashville, Tennessee | |
| Type | Publicly traded partnership |
|---|---|
| NYSE: AB | |
| Industry | Asset management |
| Founded | 1967 |
| Founder | Zalman Bernstein Paul P. Bernstein Shepard D. Osherow Roger Hertog Lewis A. Sanders |
| Headquarters | Nashville |
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 |
| Products | Asset management, Mutual funds, Sell-side research, private wealth management |
| Revenue | US$4.44 billion (Dec 2021)[1] |
| US$1.15 billion (Dec 2021)[1] | |
| AUM | US$779 billion (Dec 2021)[1] |
| Total assets | US$10.51 billion (Dec 2021)[1] |
| Owner | Equitable Holdings (64%) |
Number of employees | 4,118 (Dec 2021)[1] |
| Website | 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's headquarters are located in Nashville, Tennessee; the firm also has locations throughout the world. It has approximately US$686 billion in assets under management as of April 25, 2021.
History[edit]
Origins[edit]
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.[2]
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.[3]
2000–2015[edit]
In October 2000, Alliance Capital acquired Sanford C. Bernstein.[4] 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.[5]
2015[edit]
On January 20, 2015, AllianceBernstein announced a new brand name ("AB") and logo.[6]
2018[edit]
In February 2018, a senior research analyst of the firm, Paul Gait,[7] 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."[8]
AllianceBernstein and Fidelity Investments took control of supermarket Winn-Dixie's parent company during the latter's 2018 bankruptcy.[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.[10][11]
2019[edit]
In 2019, AllianceBernstein partnered with Columbia University to provide training courses on sustainability and environmental sciences to its staff of investors.[12][13]
2020[edit]
In June 2020, AllianceBernstein acquired investment management firm AnchorPath for $400 million.[14]
2021[edit]
In April 2021, AllianceBernstein moved to a new headquarters in Nashville, Tennessee.[15][16] In September 2021, AllianceBernstein gave a $100,000 gift to the Nashville-based Martha O'Bryan Center.[17]
Columbia University partnered with AllianceBernstein in 2021 .[13] In mid-August 2021, AllianceBernstein disclosed that it had entered a strategic partnership with LSV Advisors, LLC.[18]
2022[edit]
In March 2022, it was announced that AllianceBernstein and AllianceBernstein Holding had acquired the Minneapolis headquartered CarVal Investors - a global private alternatives investment manager.[19]
Organization[edit]
Institutional investment management[edit]
AllianceBernstein provides investment services for institutions. 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.[20]
Retail distribution[edit]
The retail part of AllianceBernstein provides financial professionals and individual investors with investments, research and tools that cover mutual funds, Managed Accounts, College Saving, Retirement Saving, and Insurance Services.[21]
Sell-side research[edit]
Sell-side research and brokerage services are provided by wholly owned subsidiary Sanford C. Bernstein, also known as Bernstein Research.[22]
Private wealth management[edit]
Bernstein Wealth Management, part of AllianceBernstein, provides investment and wealth-planning services for high-net-worth clients in the Americas[23]
529 savings plan[edit]
Rhode Island's 529 savings plan, CollegeBoundfund®, was managed by AllianceBernstein and featured AllianceBernstein mutual funds until 2016.[24] It is now administered by Ascensus College Savings.[25]
Headquarters and locations[edit]
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.[10][11] AllianceBernstein has offices in 46 locations across 22 countries.[26]
Ownership[edit]
AllianceBernstein is 64 percent owned by Equitable Holdings.[27]
See also[edit]
References[edit]
- ^ a b c d e "10-K Form 2021". alliancebernstein.com. Retrieved 23 March 2022.
- ^ "Shepard D. Osherow, Co-Founder Sanford C. Bernstein and Company". yourcompanyswebsite.com. Archived from the original on 2015-12-23. Retrieved 2015-12-23.
- ^ "Our History". AB. Retrieved 2020-03-16.
- ^ "Alliance Capital to Buy Sanford C. Bernstein". Los Angeles Times.
- ^ Kerber, Ross; McLaughlin, Tim (2 May 2017). "AllianceBernstein parent abruptly removes CEO Kraus, directors". Reuters. Retrieved 4 May 2017.
- ^ "AllianceBernstein Launches New Branding Initiative". www.prnewswire.com.
- ^ "Bernstein Conference". www.bernsteinresearch.com. Retrieved 2022-05-11.
- ^ ""The [Ivanhoe] pullback investors have been waiting for"". www.mining-journal.com. 2018-02-02. Retrieved 2022-05-11.
- ^ "Fidelity, AllianceBernstein Reap Payday After Winn-Dixie Rescue". Bloomberg.com. 2021-08-09. Retrieved 2021-09-11.
- ^ a b Cheng, Evelyn (2 May 2018). "An old Wall Street money manager with $500 billion is moving to Nashville from Manhattan to save money". CNBC. Retrieved 11 May 2022.
- ^ a b Massa, Annie (11 May 2022). "What Happened When a Wall Street Investment Giant Moved to Nashville". Bloomberg Businessweek. Retrieved 11 May 2022.
- ^ Nauman, Billy (September 11, 2019). "AllianceBernstein sends staff to climate school". www.ft.com. Archived from the original on 2019-09-14. Retrieved 2021-09-11.
- ^ a b Lerner-Lam, Michelle Dunstan, Lisa Sachs, and Art. "The World Is Starting to Pivot on Climate. It's Not Enough". www.barrons.com. Retrieved 2021-09-11.
- ^ "AllianceBernstein acquires investment manager AnchorPath". www.spglobal.com. Retrieved 2021-05-17.
- ^ Stinnett, Joel (April 29, 2021). "AllianceBernstein sets timetable for opening of new Fifth + Broadway headquarters". Nashville Business Journal. Retrieved 4 June 2021.
- ^ Stinnett, Joel (April 29, 2021). "AllianceBernstein sets timetable for opening of new Fifth + Broadway headquarters". www.bizjournals.com. Archived from the original on 2021-04-29. Retrieved 2021-09-11.
- ^ "Of Note: AllianceBernstein gifts O'Bryan Center $100K". Nashville Post. Retrieved 2021-09-11.
- ^ "AllianceBernstein Forms Partnership with LSV Advisors for Firm's Private Wealth Business - SWFI". www.swfinstitute.org. Retrieved 2021-09-11.
- ^ "AllianceBernstein to acquire global private alternatives manager CarVal Investors". www.hedgeweek.com. 2022-03-17. Retrieved 2022-03-17.
- ^ "Fourth Quarter Fact Sheet" (PDF).
- ^ "About Us-Investments | AB". www.alliancebernstein.com.
- ^ "Bernstein Research". AB.
- ^ "Overview". www.bernstein.com.
- ^ "Rhode Island (RI) 529 College Savings Plans - Saving for College". www.savingforcollege.com.
- ^ Anderson, Patrick. "R.I. chooses new manager for CollegeBoundfund". Retrieved 2016-08-08.
- ^ "All Locations, AllianceBernstein". www.alliancebernstein.com.
- ^ Bary, Andrew. "Life Insurer Equitable Is a Cheap Way to Play AllianceBernstein". www.barrons.com. Retrieved 2021-09-25.
External links[edit]
- Business data for AllianceBernstein Holding L.P.:
