Alliance Bernstein is an investment management firm based out of the U.S. that has a market cap of $2.55 billion. The company is owned by France’s AXA and aids in research, management, and overall insight about investment for all of their clients. The company is based out of New York and currently has $480 billion in assets under their management. Alliance Bernstein was originally two separate companies (Alliance Capital and Sanford C. Bernstein) until they merged back in 2000. Here are five things you didn’t know about Alliance Bernstein.
5. Alliance Capital was founded with a merger
Alliance Capital was founded in 1971 when the investment-management department of the company Donaldson, Lufkin & Jenrette (founded in 1959) merged with the investment advisory company Moody’s Investment Services, Inc. Donaldson, Lufkin & Jenrette believed that research revealed the value of smaller companies. They eventually merged and created Alliance Capital.
4. Donaldson, Lufkin & Jenrette beat the Dow Jones
Back between 1960 and 1963, the investment recommendations from Donaldson, Lufkin & Jenrette were actually consistently better than the Dow Jones, so much that they beat the Dow Jones Industrial Average by more than 50%.
3. Bernstein started out involved in controversial deals
When Sanford C. Berstein founded, it was an investment management firm for families and individuals. The company initially only dealt with discretionary accounts which was considered to be very controversial at the time and many thought it would not work; however, Bernstein had tons of success and everyone was mistaken.
2. Donaldson, Lufkin & Jenrette was acquired by another company
In 1984, Donaldson, Lufkin & Jenrette was acquired by the The Equitable Life Assurance Society of the United States. Alliance Capital was now completely owned by The Equitable, which was eventually taken over by AXA.
1. The Merger made AllianceBernstein one of the most successful and recognized companies in their industry
When Alliance Capital and Sanford C. Bernstein merged in 2000, they had massive success ever since. Plansponsor named the company one of the top five most recognized firms in defined contribution business, meanwhile, Forbes also rated them as the #1 most trustworthy company back in 2007. The company now has locations all around the world and has $480 billion in assets under their management.
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