Company type | Public subsidiary |
---|---|
NYSE: AB | |
Industry | Asset management |
Founded | 1967 |
Founders | |
Headquarters | Nashville, Tennessee, U.S. |
Area served | Worldwide |
Key people | Seth Bernstein (CEO) Joan Lamm-Tennant (chair) Karl Sprules (COO) Jackie Marks (CFO) |
Products | Asset management, Mutual funds, Sell-side research, private wealth management |
Revenue | US$4.16 billion (2023) |
US$818 million (2023) | |
US$765 million (2023) | |
AUM | US$725 billion (2023) |
Total assets | US$9.61 billion (2023) |
Total equity | US$4.45 billion (2023) |
Number of employees | 4,707 (2023) |
Parent | Equitable Holdings (64%) |
Website | alliancebernstein |
Footnotes /references [1] |
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$725 billion in assets under management as of 31 December 2023 [update] .
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]
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.
On January 20, 2015, AllianceBernstein announced a new brand name ("AB") and logo. [5]
AllianceBernstein and Fidelity Investments took control of supermarket Winn-Dixie's parent company during the latter's 2018 bankruptcy. [6]
In 2018, AllianceBernstein announced the move of their global headquarters from New York City to Nashville, while also having an office remaining in Midtown in New York City. [7] [8]
In 2019, AllianceBernstein partnered with Columbia University to provide training courses on sustainability and environmental sciences to its staff of investors. [9] [10]
In 2019, Alliance Bernstein was flagged by the Boycott, Divestment and Sanctions movement as a subsidiary of AXA through which the French insurance group maintained indirect investments in Elbit Systems and Israeli banks despite a partial divestment by the parent company. [11]
In June 2020, AllianceBernstein acquired investment management firm AnchorPath for $400 million. [12]
In April 2021, AllianceBernstein moved to a new headquarters in Nashville, Tennessee. [13] [14] In September 2021, AllianceBernstein gave a $100,000 gift to the Nashville-based Martha O'Bryan Center. [15]
In mid-August 2021, AllianceBernstein disclosed that it had entered a strategic partnership with LSV Advisors, LLC, in which AB would become the exclusive private wealth partner for LSV.. [16]
In March 2022, it was announced that AllianceBernstein had acquired the Minneapolis-headquartered CarVal Investors – a global private alternatives investment manager. [17] [18]
AllianceBernstein is 64 percent owned by Equitable Holdings. [19] Its global headquarters are located in Nashville, Tennessee at the Fifth and Broadway development. [7] [8] AB is a global firm with offices in 56 cities in 26 countries and jurisdictions around the world, and operates with more than 4,000 employees.
AllianceBernstein provides investment services for institutions. Typical clients include defined benefit pension plans and defined contribution plans. It has approximately US$725 billion in assets under management as of December 31, 2023. [20] The retail part of AllianceBernstein provides financial professionals and individual investors with investments, research and tools that cover mutual funds, managed accounts, college and retirement saving, and insurance services. [21]
Sell-side research and brokerage services are provided by wholly-owned subsidiary Sanford C. Bernstein, also known as Bernstein Research. [22] Bernstein Wealth Management, part of AllianceBernstein, provides investment and wealth-planning services for high-net-worth clients in the Americas. [23]
Rhode Island's 529 savings plan, CollegeBoundfund, was managed by AllianceBernstein and featured AllianceBernstein mutual funds until 2016. [24]
Neuberger Berman Group LLC is a private, independent, employee-owned investment management firm. The firm manages equities, fixed income, private equity and hedge fund portfolios for global institutional investors, advisors and high-net-worth individuals.
Axa S.A. is a French multinational insurance company headquartered in the 8th arrondissement of Paris. It also provides investment management and other financial services as part of its subsidiaries. As of 2023, it is the largest financial services company by revenue in France, and the 4th largest French company.
The Abu Dhabi Investment Authority is a sovereign wealth fund owned by the Emirate of Abu Dhabi in the United Arab Emirates, founded to invest funds on behalf of the Government of Abu Dhabi. It manages the emirate's excess oil reserves and is estimated to manage $853 billion. ADIA is one of the largest sovereign wealth funds in the world.
Pacific Investment Management Company LLC is an American investment management firm focusing on active fixed income management worldwide. PIMCO manages investments in many asset classes such as fixed income, equities, commodities, asset allocation, ETFs, hedge funds, and private equity. PIMCO is one of the largest investment managers, actively managing more than $2 trillion in assets for central banks, sovereign wealth funds, pension funds, corporations, foundations and endowments, and individual investors around the world. According to the Sovereign Wealth Fund Institute, PIMCO is the 6th-largest asset manager in the world by managed AUM.
The Saudi Central Bank, previously known as the Saudi Arabian Monetary Authority, established in 1952, is the central bank of the Kingdom of Saudi Arabia. After the name change in 2020, the Saudi Central Bank continued to use the same acronym (SAMA).
Wealth management (WM) or wealth management advisory (WMA) is an investment advisory service that provides financial management and wealth advisory services to a wide array of clients ranging from affluent to high-net-worth (HNW) and ultra-high-net-worth (UHNW) individuals and families. It is a discipline which incorporates structuring and planning wealth to assist in growing, preserving, and protecting wealth, whilst passing it onto the family in a tax-efficient manner and in accordance with their wishes. Wealth management brings together tax planning, wealth protection, estate planning, succession planning, and family governance.
SEI Investments Company, formerly Simulated Environments Inc, is a financial services company headquartered in Oaks, Pennsylvania, United States. The company describes itself as "a global provider of investment processing, investment management, and investment operations solutions". SEI provides products and services to institutions, private banks, investment advisors, investment managers, and private clients. Through its subsidiaries and partnerships in which the company has significant interests, SEI manages, advises or administers $1 trillion in hedge funds, private equity, mutual funds and pooled or separately managed assets. This includes $352 billion in assets under management and $683.3 billion in client assets under administration, as of 2019.
A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign-exchange reserves held by the central bank.
Kommunal Landspensjonskasse Gjensidig Forsikringsselskap or KLP is an Oslo-based mutual insurance company that manages the pensions of municipal employees in Norway. As of 31 March 2021, the fund had assets of NOK 813.5 billion, with 337 municipal and county authorities, 31 health trusts and 2,300 public sector firms as clients.
Mubadala Investment Company PJSC, or simply Mubadala, is an Emirati state-owned holding company that acts as one of the sovereign wealth funds of the Emirate of Abu Dhabi. The company was established in 2017 when then-named Mubadala Development Company and the International Petroleum Investment Company (IPIC) merged.
PGIM, Inc. (PGIM), formerly known as Prudential Investment Management, functions as the asset management arm of Prudential Financial, an American life insurance company.
Calamos Investments is a diversified global investment firm offering an array of investment strategies including active growth equity, risk managed, convertible, sustainable equity, fixed income and alternatives. The firm offers strategies through separately managed portfolios, mutual funds, closed-end funds, private funds, an exchange traded fund and UCITS funds. Clients include major corporations, pension funds, endowments, foundations and individuals, as well as the financial advisors and consultants who serve them. Headquartered in the Chicago metropolitan area, the firm also has offices in New York, San Francisco, Milwaukee and the Miami area.
The Sovereign Wealth Fund Institute is an American corporation analyzing public asset owners such as sovereign wealth funds and other long-term governmental investors. Initially, the Sovereign Wealth Fund Institute focused solely on sovereign wealth funds. It has branched out to cover all types of public institutional investors. The institute sells its subscription and API/datafeed services as a financial data vendor but provides information to the media as well.
The Oman Investment Fund is a sovereign wealth fund, established in 2006 in accordance with a royal decree of His Majesty the Sultan of Oman. The fund makes medium to long-term investments, globally and domestically, to diversify the government of Oman's asset base and create a pool of sustainable cash flow. Currently, the fund's assets under management are estimated at approximately US$18 billion.
Paul P. Bernstein is an American businessman and philanthropist.
Karvy Group is a financial services company in India. It was involved in financial services like equity, commodities trading, depository and wealth services and distribution of other financial products. It has its headquarters in Hyderabad. It also had branch offices outside India in Bahrain, Dubai, Malaysia, Philippines and the United States. Scams perpetrated during 2019 involving Karvy Stock Broking Limited(KSBL), a group company led to the filing of criminal cases against the Chairman and others. This led to the banning of KSBL by the regulator.
CI Financial is the largest independent investment management firm by assets under management in Canada. Based in Toronto, Ontario, it offers investment management and wealth management services targeted to high net worth retail investors, as well as brokerage and trading services to portfolio managers and institutional investors. It is considered one of the Big Three investment management companies in Canada, along with Mackenzie Investments and Fiera Capital.
Bayshore Global Management LLC (Bayshore) is an investment firm that serves as the family office of Google co-founder Sergey Brin and until 2015, his ex-wife, 23andMe CEO Anne Wojcicki. It manages over $100 billion of assets, making it one of the largest family offices despite its low profile.
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