AB - AllianceBernstein Holding L.P. Limited Partnership Units (AB) Q1 2024 Earnings Call Transcript

2024-04-26 14:28:07 ET

AllianceBernstein Holding L.P. Limited Partnership Units (AB)

Q1 2024 Earnings Conference Call

April 26, 2024 10:00 AM ET

Company Participants

Mark Griffin - Head of Investor Relations

Seth Bernstein - President and Chief Executive Officer

Jackie Marks - Chief Financial Officer

Mark Gessner - Head of US Retail

Onur Erzan - Head of Global Client Group and Head of Private Wealth

Conference Call Participants

Bill Katz - TD Cowen

Dan Fannon - Jefferies

Luke Bianculli - Goldman Sachs

John Dunn - Evercore ISI

Presentation

Operator

Thank you for standing by, and welcome to the AllianceBernstein First Quarter 2024 Earnings Review. At this time, all participants are in a listen-only mode. After the remarks, there will be a question-and-answer session, and I will give you instructions on how to ask questions at that time. As a reminder, this conference is being recorded and will be available for replay on our website shortly after the conclusion of this call.

And I would now like to turn the conference over to the host for this call, Head of Investor Relations for AB, Mr. Mark Griffin. Please go ahead.

Mark Griffin

Thank you, operator. Good morning, everyone, and welcome to our first quarter 2024 earnings review. This conference call is being webcast and accompanied by a slide presentation that's posted in the Investor Relations section of our website, www.alliancebernstein.com. With us today to discuss the company's results for the quarter are Seth Bernstein, President and CEO; Jackie Marks, CFO; and Mark Gessner, Head of US Retail; Onur Erzan, Head of Global Client Group & Private Wealth will join us for questions after our prepared remarks.

Some of the information we'll present today is forward-looking and subject to certain SEC rules and regulations regarding disclosure. So I'd like to point out the Safe Harbor language on Slide 2 of our presentation. You can also find our Safe Harbor language and the MD&A of our 10 Q, which we filed yesterday. Under Regulation FD, management may only address questions of material nature from the investment community in a public forum. So please ask all such questions during this call.

Now, I'll turn the call over to Seth.

Seth Bernstein

Good morning, and thank you for joining us today. In the first quarter, AB benefited from strong global equity market returns complemented by robust double-digit organic fixed income flows and 8% annualized growth in alternatives to multi-asset, more than offsetting equity outflows. AB's balance and diversification across asset classes and geographies coupled with broad global distribution capabilities enabled us to continue to drive market share gains in key areas....

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