AllianceBernstein Holding L.P. (NYSE:AB) Q3 2022 Earnings Conference Call October 28, 2022 10:00 AM ET

Company Participants

Mark Griffin - Head, Investor Relations

Seth Bernstein - President and Chief Executive Officer

Kate Burke - Chief Operating Officer and Chief Financial Officer

Onur Erzan - Head, Global Client Group and Private Wealth

Bill Siemers - Controller and Chief Accounting Officer

Conference Call Participants

Craig Siegenthaler - Bank of America

Alexander Blostein - Goldman Sachs

Bill Katz - Credit Suisse

John Dunn - Evercore ISI

Dan Fannon - Jefferies

Operator

Thank you for standing by and welcome to the AllianceBernstein Third Quarter 2022 Earnings Review. [Operator Instructions] As a reminder, this conference is being recorded and will be available for replay on our website shortly after the conclusion of this call. 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 third quarter 2022 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, our President and CEO; Kate Burke, COO and CFO; and Onur Erzan, Head of Global Client Group and Private Wealth. Bill Siemers, Controller and Chief Accounting Officer, will join us for questions after our prepared remarks.

Some of the information we will 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 beginning on Slide 2 of our presentation. You can also find our Safe Harbor language in the MD&A of our 10-Q, which we filed earlier this morning. 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 will turn it over to Seth.

Seth Bernstein

Good morning and thank you for joining us today. Financial market conditions continue to be challenging in the third quarter as investors reacted to both rising geopolitical stresses and further rate increases in the face of accelerating inflation. Other than investing in cash in certain commodities, investors have experienced negative returns year-to-date. We were not immune to industry-wide pressures as we saw outflows from active equity and taxable fixed income, particularly in September when global stock markets declined by 9% or more.