AllianceBernstein Holding LP (NYSE:AB)
$ 33.91 0.06 (0.18%) Market Cap: 3.91 Bil Enterprise Value: 3.91 Bil PE Ratio: 14.07 PB Ratio: 1.89 GF Score: 64/100
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AllianceBernstein Holding LP at Bank of America Merrill Lynch Future of Financials Conference Transcript

Nov 06, 2019 / 01:00PM GMT
Release Date Price: $29.62 (+0.27%)
Michael Roger Carrier
BofA Merrill Lynch, Research Division - Director

We're going to get started with our first session. It's my pleasure to introduce our next company, AB. And with us today is Seth Bernstein, President and CEO. Seth was appointed President and CEO of AB in 2017. And since this time, he's been focused on strategic growth areas as well as improving efficiencies, both of which have driven positive flows and a rising margin. Prior to AB, Seth had a distinguished 32-year career at JPMorgan Chase, most recently as Managing Director & Global Head of Managed Solutions and Strategy at JP Morgan Asset Management. AB has been putting up strong organic asset and revenue growth this year, unlike many in the industry and has a healthy yield given its structure.

In addition, while margins have been weighed down a bit given some of the natural relocation costs this year, this should start to be a benefit heading into 2020 and beyond. Thanks, Seth, for being here today.

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