AllianceBernstein Holding, a global investment management firm and AllianceBernstein have re-launched an equity capital markets business at Sanford C Bernstein. It has also hired Thomas Morrison as the head of equity capital markets team.
James Gingrich, chairman and CEO of Bernstein, said: “Bernstein is re-entering the equity capital markets business for a simple reason: our clients want us to bring the same independent, rigorous insight to bear on the primary market that we currently provide on the secondary market. We are delighted to have Tom Morrison on board to lead our re-entry into this business.
“Bernstein’s research coverage is focused on the most significant companies in their respective industries, and we only intend to underwrite offerings of issuers that are consistent with that model and make sense for our clients. Our past success in the new issue business demonstrates that clients value the intellectual rigor and integrity we can bring to the process.”
Mr Morrison said: “The quality and integrity of Bernstein’s research is unparalleled in the industry. His distribution capabilities and communication of industry and company positioning are unmatched as well. We look forward to extending this premium service to our investing and issuing clients in the equity new issue business.”
