AB Celebrates 50th Anniversary

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 50^th 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.

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SOURCE AllianceBernstein L.P.