GOVERNOR LEE, COMMISSIONER ROLFE ANNOUNCE ALLIANCEBERNSTEIN L.P. TO EXPAND NASHVILLE HEADQUARTERS

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GOVERNOR LEE, COMMISSIONER ROLFE ANNOUNCE ALLIANCE BERNSTEIN L.P. TO EXPAND NASHVILLE HEADQUARTERS

  • Asset management firm will create an additional 200 jobs in Davidson County

  • AB announced relocation of global headquarters to Nashville in May 2018

  • Company expects to move into Nashville’s Fifth + Broadway development in the next year

NASHVILLE, Tenn. –TennesseeGov. Bill Lee, Department of Economic and Community Development
Commissioner Bob Rolfe and AllianceBernstein L.P. (AB) officials
announced today
that the global asset management firm will invest $11.4 million and
create 200 additional jobs at its global headquarters in Nashville.

The expansion brings AB’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.

The additional 200 jobs announced today 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 a leading 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.

Since 2015, 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.

QUOTES

“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. The creation of hundreds of
quality jobs will provide tremendous benefits to the
entire Middle Tennessee region.” – Gov. Bill Lee

“It’s
hard to overstate how significant AB’s commitment to Nashville is for
our state. 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.” – TNECD Commissioner Bob Rolfe

“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. 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.” – AB President and CEO Seth Bernstein

“One
of my goals is to make sure that every Tennessean who is working hard
has an opportunity to find a good paying job with good American
benefits.
Our government partnership with AB to create a new headquarters in
downtown Nashville was an investment in that goal. It started with more
than 1,000 high-quality, high-wage jobs, and now that partnership is
already paying off with 200 more new opportunities
for Nashville families.” – Sen. Brenda Gilmore (D – Nashville)

“Nashville
continues to experience unprecedented economic growth as businesses all
over the country are discovering that we provide a highly educated
workforce and an excellent standard of living. These high-quality jobs
will be a superb addition to our city.” —
Rep. Bill Beck (D – Nashville)