NEW YORK, Jan. 9, 2017 /PRNewswire/
-- AllianceBernstein L.P. ("AB"), a leading global investment
firm with $478 billion in assets
under management, today kicks off a year-long celebration of its
50th anniversary. The firm was founded on the ideas of
research excellence, investment discipline, independence from
conflict, and an unwavering commitment to clients. Today, AB is
still guided by its rich heritage even as it continues to adapt to
changing markets.
Since opening its doors a half-century ago, AB's business has
evolved from its modest beginnings to a prominent global investment
and research company. Today, with a presence in 21 countries across
the globe, its investment research and advisory and trading
solutions serves institutions, private wealth clients, and
financial advisors, addressing the complex challenges investors
face.
"From day one, AB has focused exclusively on investment
management and research, allowing us to serve our clients without
conflict. Yet, we have always adapted, recognizing that our
clients' needs change, and we must evolve with them. From
Bernstein's focus as a preeminent value equity service to Alliance
Capital's prowess as a growth equity manager, we have evolved to
offer clients a broad spectrum of investment solutions that meet
their needs throughout market cycles—as well as the highest caliber
of independent research," said Peter
Kraus, Chairman and CEO of AB. "At the same time, we have
maintained a firm size that fosters a unique level of collaboration
among teams. I'm extremely proud of our people, past and present;
they have built an incredible legacy and positioned the firm for
future success."
The firm's origins began in 1967, when Sanford C. Bernstein was founded to provide
investment management to individuals and sell-side research to
institutions. A few years later, in 1971, the investment-management
firm Alliance Capital was formed, and the two companies merged in
2000 to become AllianceBernstein—the firm rebranded as AB in 2015.
Since its founding, the firm has continually evolved and today
offers a broad array of services and a dramatically more expansive
global footprint than 50 years ago, while still remaining steadfast
in its values.
In fixed income, constant innovation and strong performance have
been key drivers of the firm's global asset growth, with nearly 90%
of fixed-income assets in services outperforming their benchmarks
for the three- and five-year period through September 30, 2016. In equities, the firm
broadened the platform from its value and growth origins to
incorporate services that address clients' needs for downside risk
protection, income, and stable alpha, while at the same time
remaining committed to its high conviction investment discipline.
In recent years, AB has built a presence in promising new growth
areas including private credit, real estate, multi-asset services,
multi-manager target date and hedge funds, and customized hedge
fund solutions. In private wealth, the firm's offerings have
progressed with the changing investment landscape, and today it is
ranked as one of the top 15 wealth-management firms in America. In
sell-side research, AB expanded its presence in Europe and Asia, growing revenue by double digits, while
many in the industry were disinvesting. Every Bernstein fundamental
research team that has been publishing for at least one full year
was listed in the top rankings for the 2016 Institutional Investor
All America Research Team Survey—a testament to the quality and
longevity of the research franchise.
"Our ability to thrive for more than a half-century is reflected
in our global growth and our longevity in markets all over the
world," said Robert Keith, Head of
Global Client Group. "We have always been deeply committed to
delivering investment solutions tailored to our clients' local
needs; we're proud that we've delivered on this commitment in
Australia and Asia for 30 years, Europe for 40 years, and the United States for our entire history. What
I'm most proud of, though, is that we never lose sight of our
clients' needs and making them feel that they have become part of a
tradition of integrity, trust, and financial success when they work
with us."
About AB
AB is a leading global investment management firm that offers
high-quality research and diversified investment services to
institutional investors, individuals and private wealth clients in
major world markets.
At September 30, 2016, AB Holding
owned approximately 35.5% of the issued and outstanding AB Units
and AXA, a worldwide leader in financial protection, owned an
approximate 64.2% economic interest in AB.
Additional information about AB may be found on our website,
www.abglobal.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ab-celebrates-50th-anniversary-300387779.html
SOURCE AllianceBernstein L.P.