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 in assets under management .

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 Zalman Chaim Bernstein (1926-1999; זלמן חיים ברנשטיין), originally known in his businesses as Sanford Bernstein, was an American billionaire businessman and philanthropist.

, Paul P. Bernstein, Shepard D. Osherow,

Roger Hertog Roger Hertog (born July 5,1941) is an American businessman, financier, and conservative philanthropist. Born and raised in The Bronx borough of New York City, New York, Hertog pursued a career in business, becoming president of Sanford Bernstei ...

and Lewis A. Sanders. Alliance Capital was founded in 1971 when the investment-management department of

Donaldson, Lufkin & Jenrette Donaldson, Lufkin & Jenrette (DLJ) was a U.S. investment bank founded by William H. Donaldson, Richard Jenrette, and Dan Lufkin in 1959. Its businesses included securities underwriting; sales and trading; investment and merchant banking; fina ...

, Inc. merged with the investment-advisory business of Moody's Investor Services, Inc.

2000–2015

In October 2000, Alliance Capital acquired Sanford C. Bernstein. 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.

2015

On January 20, 2015, AllianceBernstein announced a new brand name ("AB") and logo.

2018

In February 2018, a senior research analyst of the firm, Paul Gait, defined the

Democratic Republic of Congo The Democratic Republic of the Congo (french: République démocratique du Congo (RDC), colloquially "La RDC" ), informally Congo-Kinshasa, DR Congo, the DRC, the DROC, or the Congo, and formerly and also colloquially Zaire, is a country in ...

(DRC)– a country rich in

cobalt Cobalt is a chemical element with the symbol Co and atomic number 27. As with nickel, cobalt is found in the Earth's crust only in a chemically combined form, save for small deposits found in alloys of natural meteoric iron. The free element, p ...

, which is essential to the lithium-ion batteries that drive electric vehicles –as economically "the Saudi Arabia of the electric vehicle age." AllianceBernstein and

Fidelity Investments Fidelity Investments, commonly referred to as Fidelity, earlier as Fidelity Management & Research or FMR, is an American multinational financial services corporation based in Boston, Massachusetts. The company was established in 1946 and is o ...

took control of supermarket Winn-Dixie's parent company during the latter's 2018 bankruptcy. 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 Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a private research university in New York City. Established in 1754 as King's College on the grounds of Trinity Church in Manhatt ...

to provide training courses on sustainability and environmental sciences to its staff of investors.

2020

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

2021

In April 2021, AllianceBernstein moved to a new headquarters in

Nashville, Tennessee Nashville is the capital city of the U.S. state of Tennessee and the seat of Davidson County. With a population of 689,447 at the 2020 U.S. census, Nashville is the most populous city in the state, 21st most-populous city in the U.S., and ...

. In September 2021, AllianceBernstein gave a $100,000 gift to the Nashville-based Martha O'Bryan Center.

partnered with AllianceBernstein in 2021 . In mid-August 2021, AllianceBernstein disclosed that it had entered a strategic partnership with LSV Advisors, LLC.

2022

In March 2022, it was announced that AllianceBernstein and AllianceBernstein Holding had acquired the

Minneapolis Minneapolis () is the largest city in Minnesota, United States, and the county seat of Hennepin County. The city is abundant in water, with thirteen lakes, wetlands, the Mississippi River, creeks and waterfalls. Minneapolis has its origins ...

headquartered CarVal Investors — a global private alternatives investment manager.

Organization

Institutional investment management

AllianceBernstein provides investment services for institutions. Typical clients include

Defined benefit pension plan Defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum, or combination thereof on retirement that depends on an employee's earnings history, tenure of service and age ...

s and

Defined contribution plan A defined contribution (DC) plan is a type of retirement plan in which the employer, employee or both make contributions on a regular basis. Individual accounts are set up for participants and benefits are based on the amounts credited to these a ...

s. It has approximately

US$ The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...

498 billion in assets under management as of June 30, 2017.

Retail distribution

The retail part of AllianceBernstein provides financial professionals and individual investors with investments, research and tools that cover

mutual fund A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV ...

s, Managed Accounts, College Saving, Retirement Saving, and Insurance Services.

Sell-side research

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

Private wealth management

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

529 savings plan

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

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. AllianceBernstein has offices in 46 locations across 22 countries.

Ownership

AllianceBernstein is 64 percent owned by

Equitable Holdings Equitable Holdings, Inc. (formerly The Equitable Life Assurance Society of the United States and AXA Equitable Life Insurance Company, and also known as The Equitable) is an American financial services and insurance company that was founded in 1 ...

References

External links

{{Authority control, state=expanded Financial services companies established in 1967 Companies listed on the New York Stock Exchange Investment management companies of the United States Companies based in Nashville, Tennessee American companies established in 1967 1980s initial public offerings