AllianceBernstein

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AllianceBernstein Holding L.P.
TypePublicly traded partnership
NYSE: AB
IndustryAsset management
Founded1967; 54 years ago (1967)
FounderZalman Bernstein
Paul P. Bernstein
Shepard D. Osherow
Roger Hertog
Lewis A. Sanders
HeadquartersNashville
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
RevenueIncrease $3.7 Billion(2020)[1]
AUMUS$697 billion (March 2021) [2]
OwnerEquitable Holdings (64%)
Number of employees
3,762
Websitealliancebernstein.com

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[]

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 and Fidelity Investments took control of supermarket Winn-Dixie's parent company during the latter's 2018 bankruptcy.[10]

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.

2019[]

In 2019, AllianceBernstein partnered with Columbia University to provide training courses on sustainability and environmental sciences to its staff of investors.[11][12]

2020[]

In June 2020, AllianceBernstein acquired investment management firm AnchorPath for $400 million.[13]

2021[]

In April 2021, AllianceBernstein moved to a new headquarters in Nashville, Tennessee.[14][15] In September 2021, AllianceBernstein gave a $100,000 gift to the Nashville-based .[16]

Columbia University partnered with AllianceBernstein in 2021 .[17] In mid-August 2021, AllianceBernstein disclosed that it had entered a strategic partnership with LSV Advisors, LLC.[18]

Organization[]

Institutional investment management[]

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.[19]

Retail distribution[]

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.[20]

Sell-side research[]

Sell-side research and brokerage services are provided by wholly owned subsidiary Sanford C. Bernstein, also known as Bernstein Research.[21]

Private wealth management[]

Bernstein Wealth Management, part of AllianceBernstein, provides investment and wealth-planning services for high-net-worth clients in the Americas[22]

529 savings plan[]

Rhode Island's 529 savings plan, CollegeBoundfund®, was managed by AllianceBernstein and featured AllianceBernstein mutual funds until 2016.[23] It is now administered by Ascensus College Savings.[24]

Headquarters and locations[]

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.[25] AllianceBernstein has offices in 46 locations across 22 countries.[26]

Ownership[]

AllianceBernstein is 64 percent owned by Equitable Holdings.[27]

See also[]

References[]

  1. ^ "AllianceBernstein Holding L.P. Announces Fourth Quarter Results".
  2. ^ https://research.tdameritrade.com/grid/public/research/stocks/news/article?dockey=100-102p1590-1
  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. ^ "AllianceBernstein Launches New Branding Initiative".
  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. ^ "Fidelity, AllianceBernstein Reap Payday After Winn-Dixie Rescue". Bloomberg.com. 2021-08-09. Retrieved 2021-09-11.
  11. ^ Nauman, Billy (September 11, 2019). "AllianceBernstein sends staff to climate school". www.ft.com. Retrieved 2021-09-11.
  12. ^ 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.
  13. ^ "AllianceBernstein acquires investment manager AnchorPath". www.spglobal.com. Retrieved 2021-05-17.
  14. ^ Stinnett, Joel (April 29, 2021). "AllianceBernstein sets timetable for opening of new Fifth + Broadway headquarters". Nashville Business Journal. Retrieved 4 June 2021.
  15. ^ Stinnett, Joel (April 29, 2021). "AllianceBernstein sets timetable for opening of new Fifth + Broadway headquarters". www.bizjournals.com. Retrieved 2021-09-11.
  16. ^ "Of Note: AllianceBernstein gifts O'Bryan Center $100K". Nashville Post. Retrieved 2021-09-11.
  17. ^ 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.
  18. ^ "AllianceBernstein Forms Partnership with LSV Advisors for Firm's Private Wealth Business - SWFI". www.swfinstitute.org. Retrieved 2021-09-11.
  19. ^ "Fourth Quarter Fact Sheet" (PDF).
  20. ^ "AB Retail website".
  21. ^ "Bernstein Research Website".
  22. ^ "Bernstein Global Management website".
  23. ^ "List of 529 plans".
  24. ^ Anderson, Patrick. "R.I. chooses new manager for CollegeBoundfund". Retrieved 2016-08-08.
  25. ^ 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.
  26. ^ "AB Locations".
  27. ^ Bary, Andrew. "Life Insurer Equitable Is a Cheap Way to Play AllianceBernstein". www.barrons.com. Retrieved 2021-09-25.

External links[]

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