Sanford C. Bernstein Announces Expanded US Equity Derivatives Effort
August 11 2009 - 12:54PM
PR Newswire (US)
NEW YORK, Aug. 11 /PRNewswire-FirstCall/ -- AllianceBernstein
Holding L.P. (NYSE:AB) and AllianceBernstein L.P. today announced
the launch of an expanded US equity derivatives effort at Sanford
C. Bernstein & Co., LLC ("Bernstein"), along with the hiring of
several key professionals with extensive experience in equity
derivatives sales and trading. Thomas Wright, head of equity
trading at Bernstein, said, "Our increased investment in equity
derivatives trading and salestrading will add another dimension to
our ability to provide our clients with both world-class execution
and investment insight. As with our high touch cash and electronic
trading efforts, our derivatives desk will be focused on helping
our clients meet their unique investment objectives." Joining the
firm are: -- Steven Miller, who will oversee the Bernstein equity
derivatives effort, reporting to Mr. Wright. He brings 15 years of
experience in equity derivatives; most recently Mr. Miller was with
Bear Stearns & Co., where he was co-head of US equity
derivatives sales, then at J.P. Morgan following its acquisition of
Bear Stearns in 2008. -- John Karl, who has 13 years of equity
derivatives experience, most recently with Bear Stearns (and
subsequently J.P. Morgan). -- William Looney, who has 12 years of
market experience, most recently at Citigroup. He will be joining
Bernstein in early September. -- Matthew Tym, who brings 15 years
of experience in equity derivatives trading, most recently at Bear
Stearns (and subsequently J.P. Morgan). -- Scott Jacobson, who is
joining Bernstein as an equity derivatives specialist after 17
years in the equity derivatives and credit research areas, most
recently at Capstone Sales Advisors. Messrs. Miller, Karl and
Looney will join Walter Lamerton, a Bernstein veteran with 11 years
of market experience, in US equity derivatives salestrading. Mr.
Tym will join Ralph Edwards, a veteran of Bernstein with 28 years
of experience, in trading derivative products and building out the
firm's risk capabilities. "Our newly-expanded equity derivatives
capability, which adds more than 70 years of combined experience in
the business, is a very important step in further enhancing
Bernstein's industry-leading research and trading platform for the
benefit of the firm's clients," concluded Mr. Wright. 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
independent research, portfolio strategy and brokerage-related
services to institutional investors. At June 30, 2009,
AllianceBernstein Holding L.P. owned approximately 34.8% of the
issued and outstanding AllianceBernstein Units and AXA, one of the
largest global financial services organizations, owned an
approximate 64.2% economic interest in AllianceBernstein. 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, 2008 and Form 10-Q for the quarter ended June
30, 2009. Any or all of the forward-looking statements that we make
in this news release, Form 10-K, Form 10-Q, 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 revenues, financial condition,
results of operations and business prospects. DATASOURCE:
AllianceBernstein Holding L.P. CONTACT: Philip Talamo, Investor
Relations, +1-212-969-2383, , or John Meyers, Media,
+1-212-969-2301,
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