AllianceBernstein
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.
Some of the key events about AllianceBernstein
- 1967The company was founded as Alliance Capital Management
- 1967Faced criticism for aggressive sales tactics in mutual fund distribution
- 1971Launched one of the first international growth mutual funds in the U.S.
- 1988Became a publicly traded company on the New York Stock Exchange
- 1992Embroiled in a scandal involving improper trading practices
- 2000Acquired Sanford C. Bernstein, expanding its research and investment management capabilities
- 2003Implicated in the mutual fund trading scandal, leading to regulatory scrutiny
- 2004Paid $600 million to settle charges related to market timing and late trading
- 2006Rebranded as AllianceBernstein following the Sanford C. Bernstein acquisition
- 2006Fined $30 million by the SEC for failing to disclose conflicts of interest
- 2008Expanded its presence in Asia by opening an office in Tokyo
- 2008Suffered significant losses during the global financial crisis
- 2011Launched its first set of multi-manager target-date funds
- 2011Criticized for high executive compensation despite poor fund performance
- 2012Faced a class-action lawsuit over excessive fees in its mutual funds
- 2014Introduced its first actively managed exchange-traded fund
- 2016Experienced substantial outflows from its actively managed funds
- 2018Announced relocation of corporate headquarters from New York City to Nashville, Tennessee
- 2020Acquired AnchorPath Financial, enhancing its multi-asset solutions capabilities
- 2020Struggled with underperformance in several key investment strategies
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
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