AllianceBernstein

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AllianceBernstein LP is a US-based, global asset management firm, with approximately $477 billion in assets under management, as of March 31, 2011.[1]

It was formed in October 2000 when Alliance Capital Management Corporation acquired Sanford C. Bernstein.[2]

Controversies

In March 2002, Roger Hertog was "in hot water for Alliance's handling of Florida's state pension fund, which lost $335 million during Enron's collapse, prompting racketeering subpoenas from Florida Attorney General Bob Butterworth."[3]

In November 2003, Alliance Capital was "being investigated by New York Attorney General Eliot Spitzer for improper trading moves and [had] put aside $190 million to cover restitution and legal costs relating to the case." It was "also being investigated by the Securities and Exchange Commission for payments to Morgan Stanley to obtain preferred status with investors."[4]

Board

Accessed March 2013: [5]

Articles and resources

References

  1. [1]
  2. Alliancebernstein.com
  3. "Who's who," Washington Monthly (TheFreeLibrary.com), March 1, 2002.
  4. Nathaniel Popper, "Hollinger Woes Casting a Pall Over Future of Neocon Papers," The Jewish Daily Forward, November 21, 2003.
  5. AllianceBernstein Board, organizational web page, accessed March 12, 2013.

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