It earns an Average Parent rating.
AB, which had $742 billion in assets and 4,050 employees as of September 2021, is in the midst of moving its sales and back-office operations to Nashville, Tennessee, by 2024, with 1,250 roles slated to move. As of late-2021, there were 930 staff in the city. AB's investment staff will remain in New York, though some have volunteered to relocate. While AB continues to cut costs, it also seeks to invest in areas such as alternatives, private wealth management, technology, and environmental, social, and governance. Despite the headwinds to active management, AB has seen positive open-end flows in recent years.
AB's fixed-income platform remains an area of strength and has seen some notable tech innovations such as Alfa (a liquidity platform) and Abbie (a virtual bond trading assistant), though it's harder to point to the collective strengths of the equity division's group of boutique-like teams. Departures remain elevated; the firm abruptly announced the departure of seven fixed-income portfolio managers and economists in October 2021 as part of a revamp to focus on ESG and tech initiatives. Still, the depth of investment teams remains largely intact because of promotions and external hires.