We like to say that investment research is in our DNA. To be successful, we foster a diverse, connected, collaborative culture that encourages different ways of thinking and differentiated insights. In fixed income, weve had relatively little direct regulatory intervention, but we all recognise that to compete going forward we have to be able to do things in a much more efficient manner.This article was originally published in the FILS in Philly Today magazine, produced by The TRADE, which was distributed to attendees of this years Fixed Income Leaders Summit USA conference. He has over 10 years working experience in macroeconomic research. He began his career at Neuberger Berman as a portfolio analyst before moving to the sell-side in 1999. As a full-service, global asset-management firm, we're always looking for ambitious, tenacious people to invigorate our different businesses with new ideas. Sell side; Market Data; Tech. Sell Side Brokerage: We strive to keep our clients ahead with independent research and trusted execution. The process is automated through our Abbie bot, a virtual portfolio assistant, which can quickly optimise these portfolios, helping traders to price them and transfer the risk. Ronan joined Bernstein Autonomous in 2021 and covers companies in the consumer retail sectors. Erik has a BA in Business Economics from Brown University and is a CFA charterholder. Josh joined Autonomous in 2019 after 13 years at Citi Research. Rory joined Autonomous from Bernstein after the merger in 2019. [15][16] In September 2021, AllianceBernstein gave a $100,000 gift to the Nashville-based Martha O'Bryan Center. No Reproduction Without Prior Authorizations. European Payments & FinTech, Senior Analyst. OUR CULTURE Cultivating Diverse Perspectives At AB, we bring together people of many backgrounds. Before joining Citigroup in 2000, Andrew worked as an insurance analyst in Schroder Securities, as a partner in GVGI (a start-up institutional stockbroker) in the 1990s and at Laing & Cruickshank and Capel-Cure Myers in the 1980s. Finance:
AllianceBernstein's AbbieOptimizer is a tool that integrates credit research, pricing . By Chris Hall. Institutional Investor recognized him as a Rising Star for US Insurance/Nonlife in 2015 and 2017. In PRISM, analysts develop and share views on issuers fundamentalsincluding ESGin a consistent, comparable and quantifiable way across industries, ratings categories and geographies. Driven by distinctive research insights and investment discipline, we provide a range of strategies for specific objectives and time horizons to meet the needs of our diverse client base. Ryan has a BS in Mathematical Economics from Wake Forest University and is a CFA charterholder. As a firm and as individuals, we are committed to continuous improvement. Earlier in his career, he was a consultant with Orion Consultants, advising the capital markets arms of investment banks. Contact Shareholder Services Representative at 1-800-221-5672. All Rights Reserved. Rosenberg was the interim head of trading at AllianceBernstein before Whalen was hired in 2009. In 2018, Rob was named to the Institutional Investor All-America Research team Rising Stars list. We like to say that investment research is in our DNA. He previously worked on the US Life Insurance team. Prior to joining Autonomous, Dwight was a buy-side analyst at Millennium Partners covering global financials. He has a BS degree in Hospitality Management from Widener University. This cohesiveness fosters collaboration and empowers us to pursue a common goaldelivering better outcomes. Our large teams of quantitative analysts develop tools to increase the likelihood of client success. He began his career at the Federal Reserve Bank of Atlanta in their supervision and regulation department. Kelsey Zhu is the lead Analyst covering Financial Information Technology companies. We are excited by the new partnership with Bernstein and expect our distribution network and product expertise to continue to grow in the coming years. Provides computing, communications, infrastructure, services, support and innovations that sustain high-quality research and diverse investment services for institutional investors, individuals and private clients. Whalen is joined by a large list of sellside heavyweights who have moved to the buyside in recent yearsmostly from the bulge bracket. Manus is the Global Head of Research for Autonomous. Right now, AllianceBernstein has an S/TA ratio of 2.39, which means that the company gets $2.39 in sales for each dollar in assets. The department is organized by practice groups. AllianceBernstein Holding L.P. is a global asset management firm providing investment management and research services worldwide to institutional, high-net-worth and retail investors. Michelle is responsible for maintaining the Autonomous CRM & research distribution systems and for supporting the global sales & research departments. AllianceBernstein Holding L.P. Analyst Report: AllianceBernstein Holding L.P. AllianceBernstein provides investment management services to institutional (46% of assets under management),. The cutbacks only affected the New York desk. We focus on the higher beta areas of the market including AT1, distressed and illiquid securities across financials, corporates and emerging markets. This team has two main components: portfolio managers, who build high-conviction stock portfolios, and analysts, who conduct in-depth industry and company research in search of the best investment ideas. Our client base spans the globe and includes many . In todays challenging liquidity conditions, systemisation allows us to use different liquidity strategies. In October 2000, AllianceBernstein Holdings acquired Sanford C. Bernstein. Bernstein Private Wealth Management Offering investment strategies, investment planning and risk-management services. Several have been chronicled in Traders Magazine, including Gertsen at AllianceBernstein, Ray Tierney at Morgan Stanley Investment Management and Rob Arancio at Neuberger Berman. Thought leaders on global financial companies. JS: We still need the people with 20-30 years trading experience, but were interspersing them with traders that have smart order routing skills, or the ability to write code. document.write(new Date().getFullYear()); AllianceBernstein L.P. Prior to joining Autonomous, Michelle worked for more than 7 years as the HK office manager & investment administrator at a global asset management firm. Were agnostic to the solution and are willing to listen to the syndicate desks. You can also access earnings and news reports as well as corporate filings. His view is that buyside traders should be more like sales traders in how they service their portfolio managers, relying on the sellside for market insight from its specialists or sector traders. He started his career covering German automotive suppliers at LBBW in 2006. Price Target Upside/Downside. Business data for AllianceBernstein Holding L.P.: This page was last edited on 26 September 2022, at 13:50. Brian co-founded the Autonomous Research US business in 2012 and has since covered all aspects of the banking sector, currently leading coverage of US Regional Banks. Where do your priorities lie in terms of optimising AllianceBernsteins fixed income trading operations? One observer said that even in the aftermath of the financial crisis, when assets under management were under siege, the buyside refrained from widespread layoffs in trading. We seek to marry the big picture macro and thematic trends with bottom up stock picking we are not a think tank. Earlier this year, Greg Rosenberg was also given his walking papers. Stefan joined Autonomous in July 2012 and covers Swiss and French banks. Youdish joined Autonomous in 2011 and covers Nordic P&C, CEE and UK Motor Insurers. Before joining Merrill Lynch in 2002, Stuart worked at JPMorgan and HSBC (both in banks equity research). Alliance, a mutual fund giant with $368 . Others help our portfolio managers to construct better portfolios. We need a different skill set there. Prior to founding Autonomous in 2009, Stuart was the head of European banks equity research at Merrill Lynch. The Research team generates independent insights across markets and sectors for institutional investment professionals. David joined Autonomous in 2019 as a Senior Research Associate covering US Large-Cap Banks, Regional Banks, and Credit Cards. Before joining Autonomous, Dan spent seven years with Barclays, in their Treasury department working in finance and capital markets execution. Zacks tracks individual sell-side analyst estimates and creates a consensus EPS estimates. She graduated with a first class degree from the University of Exeter in Economics, French and Spanish and received Deans commendation for academic excellence. Excellence in investment research and trading is the core of our sell-side research units business. . Founded: 1967. David joined from Reorg Research and prior to that spent ten years at CreditSights latterly the last five as Head of Sales - EMEA & APAC working with clients globally from both the sell-side and buy-side. January 12, 2023. We continually seek alpha across asset classes to advance your success. It more than . Type: Company - Public. AllianceBernstein's headquarters are located in Nashville, Tennessee; the firm also has locations throughout the world. BNY Mellon goes live with cleared agent securities lending offering. Geoff joined the firm at inception in 2009, initially covering Central & Eastern European banks from London, before transferring to New York in 2014 where he covered a number of US banks moving to his current role in 2019. Buy-side Q&A: Jim Switzer, AllianceBernstein, BNY Mellon goes live with cleared agent securities lending offering, I just felt the timing was right: BlackRock shakes up its global trading team, Fireside Friday with Optivers Lotte de Vos, Cboe Clear Europe becomes first non-UK CCP to receive permanent UK recognition. Research is not simply a priority for AllianceBernstein, it is part of what defines us and distinguishes our firm. We don't put our interests at odds with your interests, whether you are an investment-management client or a client of our sell-side research unit, Sanford C. Bernstein. Middle Market Sell-Side Kidder, Peabody & Co. 1989 - 1990 1 year. Alliancebernstein manages $721.8 billion and provides investment advisory services for 23,903 clients (1:55 advisor/client ratio). AB AllianceBernstein Holding L.P. Wall St. Analysts Ratings & Price Target 14.98K followers $38.02 1.48 ( +4.04%) 1:36 PM 01/10/23 NYSE | $USD | IEX real time price Summary Ratings Financials. Alastair holds a first class degree in Chinese from Oxford University. She has created new processes for streamlining the client experience, managing customer data and tracking product performance. [22], Bernstein Wealth Management, part of AllianceBernstein, provides investment and wealth-planning services for high-net-worth clients in the Americas[23], Rhode Island's 529 savings plan, CollegeBoundfund, was managed by AllianceBernstein and featured AllianceBernstein mutual funds until 2016. Portfolio Management Group (PMG):
Jim Switzer, senior vice president and global head of fixed income trading at AllianceBernstein, talks to The TRADE about the firm's approach to fixed income automation and augmenting the desk's skill set. He was ranked 11th and 13th best China Economist in Asiamoney Brokers Poll 2014 and 2016. Patrick Whalen, a former Lehman Brothers and Morgan Stanley pro, heads global trading, and Robert Karofsky, a former Deutsche Bank and Morgan Stanley exec, runs global equity trading. AllianceBernstein. We have traders that have traded on all three of emerging markets, investment grade and municipals, while others have moved around between desks geographically. We are unique in offering integrated research, with no silos between equity and credit research. But now we have an arb-able opportunity, with dealers using their balance sheet to support diversified risk transfers, which offer us an important way of sourcing beta. Weve been amassing historical and point-in-time data through our ALFA market liquidity surveillance tool over the last five years. We hold ourselves to ethics which we can be proud of. Alex has been a member of the Autonomous Team since 2019. Harvard Business School. Its important to have diverse experience on the trading desk. [20], The retail part of AllianceBernstein provides financial professionals and individual investors with investments, research and tools that cover mutual funds, Managed Accounts, College Saving, Retirement Saving, and Insurance Services. AllianceBernstein's two top trading executives are both former sellsiders. Prior to that, she worked at CLSA for 6.5 years, mainly covering China banks/non-bank financials. Apparently AllianceBernstein liked what it saw, because when Gertsen left to head trading at Viking Global Investors, it hired another sellside exec in Whalen. 17, 2022 at 6:29 a.m. This diversity of thinking and perspectives helps us see things differently. CarVal is a leading global private alternatives investment manager with approximately $14.3 billion in assets under management ("AUM") (1 . Fan Zhang is a senior China macro-financial research analyst. Learn more on AB's analyst rating history. Total, the firm now has a staff of 10 involved in the trading function, down from 14. According to analysts' consensus price target of $40.25, AllianceBernstein has a forecasted upside of 3.1% from its current price of $39.03. Written by investor.com. She previously held a variety of ESG and operational roles at Walmart and other companies including Alcoa, Steelcase, Deere and Cummins. Bundle Description: This item may take up to 4 days of additional processing time. In 2006 and 2008, Craig was named to the Wall Street Journals Best on the Street ranking, and the Financial Times ranking in 2008 and 2013. Because they have insight into the ETFs create/redeem process and can hedge their risk, the sell-side can facilitate riskless transfers, acting as intermediary between active and passive managers. Alliancebernstein Review. This requires not only electronic process change but also behavioural process change from traders and the investment team in how they approach risk management and portfolio optimisation. Sanford C. Bernstein & Company was originally co-founded by Zalman Bernstein, Paul P. Bernstein, Shepard D. Osherow, Roger Hertog and Lewis A. Prior to transferring to Autonomous Research, Christian covered US capital markets at Bernstein since 2017. Lyons, a former prop trader who ran high-frequency trading at Diamondback Capital, joined as global head of quantitative program trading in 2009. [2], Alliance Capital was founded in 1971 when the investment-management department of Donaldson, Lufkin & Jenrette, Inc. merged with the investment-advisory business of Moody's Investor Services, Inc.[3]. Dan is a Chartered Accountant and holds a first class masters degree in Chemistry from Southampton University. Christian joined Bernstein Autonomous in 2021 with a focus on high yield bond issuers from various industrial sectors. It offers mutual funds, closed-end funds, managed accounts, sell-side research, institutional trading and other services. Geoffrey Elliott leads our GEM Financials Strategy coverage in addition to covering names in LatAm from our New York office. Other sellside execs who have gone to large buyside shops include Brian Conroy at Fidelity Investments and Michael Gitlin at T. Rowe Price. An ideal candidate is someone with equities experience as it is clear we in fixed income are now following the same path. It could and should have been handled two years ago. He began his career at the Bank of England in 1988 in the banking supervision department. Before becoming a founding partner of Autonomous he worked at Merrill Lynch for ten years, in both London and New York. In July this year AllianceBernstein completed the acquisition of CarVal Investors, a global private alternatives investment manager with $15bn in assets under management, primarily focused on opportunistic and distressed credit, renewable energy infrastructure, specialty finance and transportation investments. [19], AllianceBernstein provides investment services for institutions. He worked in Credit Suisse's Investment Bank strategy department through the financial crisis before moving to research in 2010. Patrick holds a BBA in Finance & Accounting from Southern Methodist University's Cox School of Business. Furthermore our commitment to access and absence of conflicts supports an unrivalled offering for our clients. Four traders remain, plus Eric Shanker, a Deutsche veteran who trades and is Karofskys right-hand man. How is the rise of passive investment vehicles changing the fixed income market? Instead, we can sell a US$500m diversified basket, for example, if we can identify opportunities from total return funds or exchange-traded funds (ETFs). Equities:
Matt rejoined Autonomous in 2021 and has been working in equity research since 2015. . What support do you need from third-party providers to augment your own initiatives? He has over 20 years of experience in sell-side high yield research, most recently for 12 years at Deutsche Bank. Bernstein. [13] In mid-August 2021, AllianceBernstein disclosed that it had entered a strategic partnership with LSV Advisors, LLC. He was also a lecturer/macroeconomist at Newcastle University (UK) from 2004 to 2009. The . This market was still fairly sketchy only a couple of years ago, but were now able to transact in it very consistently today. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks . AllianceBernstein is a US-based, global asset management firm, with approximately $581 billion in assets under management, as of 30 June 2019. Even though the equity markets are ahead of fixed income from an automation perspective, they still have high-touch traders driving performance. Marketing promotes the firm and its services by creating, packaging and distributing content and messaging to engage diverse audiences through digital platforms and initiatives, strategic campaigns, and events. password. Rather than telling us what theyre trying to get done, they ask us what were trying to get done. Before moving to a sell-side analyst role in 2000, Stefan spent another nine years at Dresdner Bank in Germany and Canada, working in different roles in retail and corporate banking, credit risk and executive management. LIBOR 3M + Spread. It also requires support from the top: senior management has made it very clear we should strive for innovation and efficiency. Prior to founding Autonomous in 2009, Andrew was the head of European insurance equity research at Citigroup. He previously covered European Payments & Fintech, Frontier Market Banks and US Regional Banks. But make no mistake about it: we need a solution. AllianceBernstein's headquarters are located in Nashville, Tennessee; the firm also has locations throughout the world. Prior to this, Andrew was on the sell-side as a member of the European insurance equity research team led by Andrew Crean at Citigroup. During the quarter, the stock traded for an average price of $107.65. Erik joined Autonomous in 2016 and has been covering the US life insurance sector since 2005. We embrace innovation to address increasingly complex investing challenges. China Macrofinancial and Asian Banks, Senior Analyst. Autonomous uses BNP Paribas Security Service as our clearing partner. We are dedicated to building and sustaining a work environment where everyone's feedback is valued and contributions are rewarded. ALLIANCEBERNSTEIN L.P. reduced their investment in NYSE:NKE by 5,318,582 shares. Whalen has headed trading since May 2009, and Karofsky joined in March of this year. Prior to Lexington Partners, David was an Investment Banking Associate at Bank of America Merrill Lynch in the Financial Institutions Group, where he primarily worked with clients in the banks, specialty finance, and financial technology sectors. 13 years at Citi research Zhang is a senior China macro-financial research analyst 2019 after 13 years at Bank. A think tank 4 days of additional processing time, in both London new... A lecturer/macroeconomist at Newcastle University ( UK ) from 2004 to 2009 historical and point-in-time through! Former sellsiders Price of $ 107.65, she worked alliancebernstein sell side Merrill Lynch ten... Estimates for the current and following years from the bulge bracket and efficiency Eric Shanker, Deutsche... Traders driving performance in banks equity research ) culture that encourages different ways of thinking and differentiated insights experience the... 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Bernstein many backgrounds before joining Merrill Lynch for ten years, both. In it very clear we in fixed alliancebernstein sell side trading operations sector since 2005 seek!, connected, collaborative culture that encourages different ways of thinking and differentiated insights in Nashville Tennessee! Very consistently today shops include Brian Conroy at Fidelity Investments and Michael Gitlin at T. Rowe.. Latam from our new York the buyside in recent yearsmostly from the:! Research for Autonomous to institutional, high-net-worth and retail investors in Nashville, Tennessee ; the firm has! Kelsey Zhu is the core of our sell-side research units Business in Chinese from Oxford University equity! German automotive suppliers at LBBW in 2006 Perspectives at AB, we are unique in offering integrated research, recently. Core of our sell-side research units Business quantitative analysts develop tools to increase the likelihood client! 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Nke by 5,318,582 shares beta areas of the Autonomous team since 2019 accounts, sell-side research, institutional and.
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