AllianceBernstein

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AllianceBernstein
Publicly traded partnership
Traded asNYSEAB
IndustryAsset Management
Founded1967
Headquarters1345 Avenue of the Americas
New York, New York, U.S. Nashville, Tennessee, U.S.
Area served
Worldwide
Key people
Seth Bernstein, CEO,
Robert B. Zoellick, Chairman,
Jim Gingrich, Chief Operating Officer
ProductsAsset management, Mutual funds, Sell-side research, private wealth management
Number of employees
3,450
ParentAXA
Websitewww.alliancebernstein.com

AllianceBernstein 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 is based in New York City, U.S.. It has approximately US$546 billion in assets under management as of August 10, 2018.[1] It is 64 percent owned by the French insurance conglomerate, AXA.[2]

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.[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.

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 about 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]

On May 2, 2018 AllianceBernstein has announced they plan to relocate its headquarters, chief executive and most of its New York staff to Nashville, Tenn., in an attempt to cut costs, according to people familiar with the matter. That largely ends a 51-year presence in the nation’s traditional finance capital. The White Plains office will remain open. [7]

Organization[edit]

Institutional Investment Management[edit]

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.[8] It is 64 percent owned by the French insurance conglomerate, AXA.[9]

Retail Distribution[edit]

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.[10]

Sell-side Research[edit]

Sell-side research and brokerage services are provided by wholly owned subsidiary Sanford C. Bernstein. It is also well known as Bernstein Research.[11]

Private Wealth Management[edit]

Bernstein Wealth Management, part of AllianceBernstein, provides investment and wealth-planning services for high-net-worth clients in the Americas[12]

529 Savings Plan[edit]

Rhode Island’s 529 savings plan, CollegeBoundfund®, was managed by AllianceBernstein and featured AllianceBernstein mutual funds until 2016.[13] It is now administered by Ascensus College Savings.[14]

Headquarters and locations[edit]

AB headquarters

AllianceBernstein's global headquarters are located in New York City at 1345 Avenue of the Americas. AllianceBernstein is currently in the process of moving it’s corporate headquarters to Nashville, Tennessee. AllianceBernstein has offices in 46 locations across 22 countries.[15]

Ownership[edit]

According to Form 8-K report, as of Jan 29, 2015,[16] the French Insurance and Investment Bank AXA owned an approximate 64% economic interest in AllianceBernstein.

See also[edit]

References[edit]

  1. ^ "Fourth Quarter Fact Sheet" (PDF).
  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. ^ "Alliance Capital to Buy Sanford C. Bernstein".
  5. ^ Kerber, Ross; McLaughlin, Tim (2 May 2017). "AllianceBernstein parent abruptly removes CEO Kraus, directors". Reuters. Retrieved 4 May 2017.
  6. ^ http://www.prnewswire.com/news-releases/alliancebernstein-launches-new-branding-initiative-300022339.html
  7. ^ https://www.wsj.com/articles/large-new-york-money-manager-alliancebernstein-is-moving-to-nashville-1525207429
  8. ^ "Fourth Quarter Fact Sheet" (PDF).
  9. ^ AllianceBernstein Holding LP, New York Times, June 3, 2015
  10. ^ "AB Retail website".
  11. ^ "Bernstein Research Website".
  12. ^ "Bernstein Global Management website".
  13. ^ "List of 529 plans".
  14. ^ Anderson, Patrick. "R.I. chooses new manager for CollegeBoundfund". Retrieved 2016-08-08.
  15. ^ "AB Locations".
  16. ^ "Company Information on SEC Website".

External links[edit]