AllianceBernstein

AB
Publicly traded partnership
Traded as NYSE: AB
Industry Asset Management
Founded 1967
Headquarters 1345 Avenue of the Americas
New York, New York, U.S.
Area served
 Worldwide
Key people
 Seth Bernstein, CEO,
Robert B. Zoellick, Chairman,
Jim Gingrich, Chief Operating Officer
Products Asset management, Mutual funds, Sell-side research, private wealth management
Number of employees
 3,450
Parent AXA
Website AB

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.

AB is based in New York City, U.S.A. It has approximately US$498 billion in assets under management as of June 30, 2017.[1] It is 64 percent owned by the French insurance conglomerate, AXA.[2]

History

Origins

AB 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 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

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 onwards

On January 20, 2015, AllianceBernstein announced a new brand name, "AB" and logo.[6]

Organization

Institutional Investment Management

AB provides investment services and solutions for institutions across the globe. Typical clients include Defined benefit pension plans and Defined contribution plans. As of December 31, 2014 Institutional Assets under management were US$237 Billion.[7]

Retail Distribution

The retail part of AB 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.[8]

Sell-side Research

Sell-side research and brokerage services are provided by wholly owned subsidiary Sanford C. Bernstein. It is also well known as Bernstein Research.[9]

Private Wealth Management

Bernstein Wealth Management, part of AB, provides investment and wealth-planning services for high-net-worth clients in the Americas[10]

529 Savings Plan

Rhode Island’s 529 savings plan, CollegeBoundfund®, was managed by AB and featured AB mutual funds until 2016.[11] It is now administered by Ascensus College Savings.[12]

Headquarters and locations

AB headquarters

AB's global headquarters are located in New York City at 1345 Avenue of the Americas. AB has offices in 46 locations across 22 countries.[13]

Ownership

According to Form 8-K report, as of Jan 29, 2015,[14] the French Insurance and Investment Bank AXA owned an approximate 62.7% economic interest in AB.

See also

References

  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. 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. ↑ "AB AUM".
  8. ↑ "AB Retail website".
  9. ↑ "Bernstein Research Website".
  10. ↑ "Bernstein Global Management website".
  11. ↑ "List of 529 plans".
  12. ↑ Anderson, Patrick. "R.I. chooses new manager for CollegeBoundfund". Retrieved 2016-08-08.
  13. ↑ "AB Locations".
  14. ↑ "Company Information on SEC Website".
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