AllianceBernstein announces board changes

Published 28/05/2025, 21:50
AllianceBernstein announces board changes

AllianceBernstein Holding L.P. (NYSE:AB), a global investment management firm based in Nashville, TN, with a market capitalization of $4.4 billion and a strong "GREAT" financial health score according to InvestingPro, has announced key changes to its Board of Directors according to a recent 8-K filing with the Securities and Exchange Commission. The company, which currently trades below its Fair Value based on comprehensive analysis, has maintained dividend payments for an impressive 38 consecutive years.

On Wednesday, Jeff Hurd, the Chief Operating Officer of Equitable Holdings, Inc. (NYSE:EQH), resigned from his position as a Non-Independent Director on the Board of AllianceBernstein. His resignation was effective immediately and was described as a routine matter of business. For investors seeking deeper insights, InvestingPro offers an extensive research report on AB, part of its coverage of over 1,400 US stocks.

In a simultaneous move, Robin Raju, the 43-year-old Chief Financial Officer of EQH, has been appointed to the Board as a Non-Independent Director, also effective on Wednesday. As of the announcement, the Board has not yet determined Mr. Raju’s committee assignments.

Mr. Raju brings to the Board extensive experience in financial management, having overseen various financial functions within EQH, including Treasury, Investment Management, Investor Relations, Corporate Development and M&A, Actuarial, Accounting, and Financial Planning and Analysis. His previous roles at EQH have equipped him with a deep understanding of the financial underpinnings of EQH’s business segments.

The filing also mentioned that AllianceBernstein’s securities are registered under Section 12(b) of the Securities Exchange Act of 1934 and are traded on the New York Stock Exchange under the trading symbol "AB".

The details of these corporate governance updates are based on the information provided in the 8-K filing by AllianceBernstein Holding L.P.

In other recent news, AllianceBernstein Holding LP reported its first-quarter 2025 earnings, surpassing analysts’ expectations with an earnings per share of $0.80, slightly above the forecast of $0.79. The company also revealed net revenues of $838 million, which, despite a 5% decrease year-over-year, marked a 6% increase on a like-for-like basis. AllianceBernstein’s operating margin improved by 340 basis points to 33.7%, and base fees increased by 8% year-over-year, reflecting strong financial performance. The firm has adjusted its performance fee expectations for the year, now targeting $90-105 million, with significant contributions anticipated from private alternative strategies. Additionally, AllianceBernstein reported a slight dip in assets under management for April 2025, decreasing to $781 billion from $785 billion at the end of March. This reduction was primarily due to net outflows across institutional and retail channels. The firm continues to focus on strategic growth areas such as private markets and alternative investment strategies, aiming for $90-100 billion in private markets assets under management by 2027.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.