NEW YORK, Aug. 13, 2018 /PRNewswire/ -- AllianceBernstein L.P. ("AB"), a leading global investment firm with $540 billion in assets under management, today announced it has joined a growing coalition pledging to advance diversity and inclusion in the workplace. As a member of the CEO Action for Diversity & Inclusion™ ("CEO Action"), AB and its President and CEO, Seth Bernstein, are committed to cultivating a workplace where diverse perspectives and experiences are welcomed, and where employees feel encouraged to discuss diversity and inclusion.
"At AB, we are utterly committed to protecting our values and ensuring diversity and inclusion are part of the fabric of our organization. And as CEO, accountability begins and ends with me. I am proud to be a part of the collective CEO Action and I look forward to leading the advancement of our firm's diversity and inclusion initiatives," said Seth Bernstein, AB President and CEO.
AB joins the coalition of more than 400 signatories, who share best practices, exchange tangible learning opportunities, and initiate collaborative conversations about diversity and inclusion via the initiative's unified hub, CEOAction.com.
In recent years, AB has focused on both developing diverse talent and increasing senior leadership accountability firmwide through dedicated internal and external efforts. The firm currently offers nearly a dozen leadership development programs and employee resource groups (ERGs) that aim to serve people from traditionally underrepresented populations, and promote the professional development of diverse talent across the firm. AB has also implemented recruitment processes that enable more effective access to diverse candidates, including partnerships with academic institutions such as Historically Black Colleges and Universities (HBCUs), and organizations like Out for Undergrad, the Center for Talent Innovation and others, to recruit from diverse groups throughout the U.S.
For three consecutive years in 2016, 2017 and 2018, AB has earned a perfect score of 100% on the Human Rights Campaign Foundation's Corporate Equality Index and been designated as a "Best Place to Work for LGBT Equality," reflecting the firm's deep commitment to lesbian, gay, bisexual, and transgender (LGBT) workplace equality, with respect to tangible policies, benefits, and practices.
"We invest time and resources to ensure that diversity and inclusion are truly an integral part of our firm's DNA – its who we are, how we think, and how we act," said Janessa Cox-Irvin, Head of Diversity & Inclusion at AB. "We've had a productive few years and look forward to creating even more growth and change in this space in the years to come."
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.
About CEO Action for Diversity & Inclusion™
CEO Action for Diversity & Inclusion™ is the largest CEO-driven business commitment to advance diversity and inclusion within the workplace. Bringing together more than 400 CEOs of America's leading organizations, the commitment outlines actions that participating companies pledge to take to cultivate a workplace where diverse perspectives and experiences are welcomed and respected, employees feel comfortable and encouraged to discuss diversity and inclusion, and where best known—and unsuccessful—actions can be shared across organizations. Learn more at CEOAction.com and connect with us on Facebook: CEO Action for Diversity & Inclusion and Twitter: @CEOAction.