AllianceBernstein Holding LP at Morgan Stanley U.S. Financials Conference Transcript
Okay. Good morning, everyone. We're going to get started. I'm Mike Cyprys, Morgan Stanley's brokers and asset manager analyst. And let me start off by reading our important disclosure statement. Please note that all important disclosures, including personal holding disclosures and Morgan Stanley disclosures appear on the Morgan Stanley public website at morganstanley.com/researchdisclosures or at the registration desk. So it's my pleasure to welcome Seth Bernstein, the President and CEO of AB. Seth has been at the firm for about 2 years now, I take it, oversees about $550 billion in assets under management and is one of the few publicly listed asset managers to have positive flows into active equities in the first quarter and all of last year. AB is known for driving positive mix shifts. One of the few listed managers to see fee rate expansion so far this year. And also has been known for focusing on expense and margin improvement. So with that, Seth, welcome.
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