NEW YORK, Jan. 20 /PRNewswire-FirstCall/ -- AllianceBernstein Holding L.P. (NYSE: AB) and AllianceBernstein L.P. today announced that the firm has committed up to $500,000 to aid the victims of the earthquake in Haiti.
"The devastation of an impoverished nation is a calamity that requires nothing short of a global response," said Peter S. Kraus, Chairman and CEO of AllianceBernstein. "Many of our employees have voiced a desire to help the victims in Haiti, and the firm is teaming up with them in this cause."
AllianceBernstein's commitment includes a $50,000 donation to the American Red Cross, and a $450,000 dollar-for-dollar special matching gift program for employees who donate to select U.S.-based charities providing relief to the people of Haiti. This is in addition to a $50,000 donation previously submitted by the AllianceBernstein Foundation.
"By working together, AllianceBernstein and its employees have the potential to raise up to $1 million in donations to continue the relief efforts in Haiti and help provide for both the immediate and long-term needs of the country," said Mr. Kraus.
AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment services to institutional clients, individuals and private clients in major markets around the world. AllianceBernstein employs more than 500 investment professionals with expertise in growth equities, value equities, fixed income securities, blend strategies and alternative investments and, through its subsidiaries and joint ventures, operates in more than 20 countries. AllianceBernstein's research disciplines include fundamental research, quantitative research, economic research and currency forecasting capabilities. Through its integrated global platform, AllianceBernstein is well-positioned to tailor investment solutions for its clients. AllianceBernstein also offers independent research, portfolio strategy and brokerage-related services to institutional investors.
At December 31, 2009, AllianceBernstein Holding L.P. owned approximately 36.9% of the issued and outstanding AllianceBernstein Units and AXA, one of the largest global financial services organizations, owned an approximate 62.1% economic interest in AllianceBernstein.
SOURCE AllianceBernstein L.P.