NEW YORK, Aug. 15, 2018 /PRNewswire/ -- AllianceBernstein L.P. ("AB"), a leading global investment firm with $546 billion in assets under management, today announced Zachary Green has joined as Global Head of Liquidity Sales. In this newly created role, Green will be responsible for overseeing the sales, marketing, product development and commercialization of AB's cash management business globally.
"With nearly 40 years of history in the institutional money fund business, AB is committed to being a trusted partner and consultant to help cash managers meet their liquidity needs," said Douglas Peebles, Chief Investment Officer of Fixed Income at AB. "Particularly in today's volatile environment, we believe liquidity management strategies will become even more critical for investors seeking better returns and stability in their asset allocation. Zak brings more than two decades of distinct experience and track record serving the institutional market, and we're confident that our team and clients will benefit greatly from his expertise."
Prior to joining AB, Green worked at Western Asset Management for more than 10 years as a product specialist and client service executive, helping to oversee sales, marketing and product development for the company's $100 billion-dollar suite of liquidity products. Previously, he was managing director and head of Institutional Sales & Marketing at Reserve Management, where he started the company's institutional business and grew it to over $80 billion in assets in less than six years. The inventor and holder of two rules-based trading patents, Green began his career at Lehman Brothers and Deutsche Bank. He holds a BS in industrial and labor relations from Cornell University.
AB, then known as Alliance Capital, launched its first money fund in 1978, and ranked among the top 15 mutual fund sponsors in the 1990's and early 2000's. In 2005, the firm sold its money fund business to Federated Investors. Over the past decade, AB began efficiently managing internal cash, and created the AB Government Money Market Portfolio (AEYXX). The firm currently manages approximately $280 billion in total fixed-income assets.
AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets.
In May 2017, AXA S.A. ("AXA") announced its intention to pursue the sale of a minority stake in AXA Equitable Holdings, Inc. ("Equitable"; NYSE: EQH) through an initial public offering (the "IPO"). On May 14, 2018, Equitable completed the IPO and AXA owns approximately 71.9% of the outstanding common stock of Equitable.
As of June 30, 2018, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 35.9% of AllianceBernstein and Equitable, directly and through various subsidiaries, owned an approximate 64.7% economic interest in AllianceBernstein.
Additional information about AB may be found on our website, www.alliancebernstein.com.