NEW YORK, March 22 /PRNewswire-FirstCall/ --
AllianceBernstein Holding L.P. (NYSE: AB) and AllianceBernstein
L.P. today announced that John B.
Howard, 40, has been appointed Senior Vice President and
Chief Financial Officer ("CFO"), effective immediately. Mr.
Howard, who joins the firm from AQR Capital Management where he was
Chief Financial Officer and Chief Operating Officer, will report to
David A. Steyn, Chief Operating
Officer. Robert H. Joseph, Jr., 62, who has served as CFO
since 1994, will remain with the firm in a senior advisory role
until his retirement at the end of 2010.
Peter S. Kraus, Chairman and
Chief Executive Officer of AllianceBernstein, said, "I would like
to thank Bob Joseph for his more
than 25 years of dedicated service to AllianceBernstein, during
which he made innumerable contributions to the firm's success. With
great skill and knowledge, he presided over the financial
complexities of the combination of Alliance Capital and
Sanford C. Bernstein in 2000, as
well as our firm's dramatic international expansion in recent
years."
"We are pleased to have attracted a financial professional of
John Howard's caliber to become our
new CFO and we welcome him to our senior leadership team.
John's in-depth knowledge of the asset management and the sell-side
industries, as well as his international experience, make him an
ideal leader of our global finance efforts," concluded Mr.
Kraus.
Before joining AllianceBernstein, Mr. Howard served as CFO of
AQR Capital Management since 2007 and was also named COO in 2009.
Prior to that, he spent nearly a decade at Knight Capital
Group in various financial roles in New
York and London, including
CFO from 2003-2007. Mr. Howard received a Bachelor of Science
in Accounting from Lehigh University,
and is a Certified Public Accountant.
Cautions regarding Forward-Looking
Statements
Certain statements provided by management in this news release
are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks, uncertainties, and other factors
that could cause actual results to differ materially from future
results expressed or implied by such forward-looking statements.
The most significant of these factors include, but are not limited
to, the following: the performance of financial markets, the
investment performance of sponsored investment products and
separately managed accounts, general economic conditions, industry
trends, future acquisitions, competitive conditions, and government
regulations, including changes in tax regulations and rates and the
manner in which the earnings of publicly traded partnerships are
taxed. We caution readers to carefully consider such factors.
Further, such forward-looking statements speak only as of the date
on which such statements are made; we undertake no obligation to
update any forward-looking statements to reflect events or
circumstances after the date of such statements. For further
information regarding these forward-looking statements and the
factors that could cause actual results to differ, see "Risk
Factors" and "Cautions Regarding Forward-Looking Statements" in our
Form 10-K for the year ended December 31,
2009. Any or all of the forward-looking statements that we
make in this news release, Form 10-K, other documents we file with
or furnish to the SEC, and any other public statements we issue,
may turn out to be wrong. It is important to remember that other
factors besides those listed in "Risk Factors" and "Cautions
Regarding Forward-Looking Statements", and those listed above,
could also adversely affect our financial condition, results of
operations and business prospects.
About AllianceBernstein
AllianceBernstein is a leading global investment management firm
that offers high-quality research and diversified investment
services to institutional clients, individuals and private clients
in major markets around the world. AllianceBernstein employs more
than 500 investment professionals with expertise in growth
equities, value equities, fixed income securities, blend strategies
and alternative investments and, through its subsidiaries and joint
ventures, operates in more than 20 countries. AllianceBernstein's
research disciplines include fundamental research, quantitative
research, economic research and currency forecasting capabilities.
Through its integrated global platform, AllianceBernstein is
well-positioned to tailor investment solutions for its clients.
AllianceBernstein also offers high quality, in-depth research,
portfolio strategy and brokerage-related services to institutional
investors, and equity capital markets services to issuers of
publicly-traded securities.
At December 31, 2009,
AllianceBernstein Holding L.P. owned approximately 36.5% of the
issued and outstanding AllianceBernstein Units and AXA, one of the
largest global financial services organizations, owned an
approximate 62.1% economic interest in AllianceBernstein.
SOURCE AllianceBernstein