AllianceBernstein L.P. (AB) will invest $11.4 million and create 200 additional jobs at its global headquarters in Nashville, TN. The expansion will bring the global asset management firm’s planned investment in Nashville to more than $80 million. In May 2018, the company announced plans to relocate its headquarters from New York City to Nashville and bring 1,050 jobs to Middle Tennessee.
“As AB continues to plant roots in Nashville and Middle Tennessee, we have been so grateful for the warm welcome our firm has received from this vibrant and growing region,” said AB President and CEO Seth Bernstein. “Nashville’s core values and talents are an excellent match for our firm, and we look forward to expanding our presence here. We are committed to being a member of Nashville’s vital business community and contributing to and investing in the city’s continued success.”
The additional 200 jobs announced will fill various tech, operations and compliance functions. AB anticipates moving into its permanent downtown headquarters at Nashville’s Fifth + Broadway development by the end of 2020.
AB is an investment management firm that offers a comprehensive range of research and diversified investment services to institutional investors, individuals and private wealth clients in major markets across the world. The financial firm has approximately $623 billion in assets under management, nearly 3,800 employees and offices in 25 countries.
“AB’s new global headquarters is one of Tennessee’s most consequential economic development wins in recent years, and I appreciate the company’s ongoing commitment to Nashville and to our state,” said Gov. Bill Lee. “The creation of hundreds of quality jobs will provide tremendous benefits to the entire Middle Tennessee region.”
Since 2015, Tennessee Department of Economic and Community Development (TNECD) has supported more than 70 economic development projects in Davidson County, resulting in approximately 22,000 job commitments and nearly $2.2 billion in capital investment.
“It’s hard to overstate how significant AB’s commitment to Nashville is for our state,” said TNECD Commissioner Bob Rolfe. “Once fully operational, AB will have more than 1,250 employees here in Middle Tennessee, making it one of downtown Nashville’s largest employers. We’re incredibly honored that a company of this caliber has so quickly established deep roots in Tennessee and continues to create extremely well-paying and high-quality jobs in Nashville.”
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