AllianceBernstein Holding L.P. (NYSE:AB) Q1 2022 Earnings Conference Call April 29, 2022 9:00 AM ET

Company Participants

Mark Griffin - Head, Investor Relations

Seth Bernstein - President and CEO

Bill Siemers - Interim Chief Financial Officer, Controller and CAO

Kate Burke - Chief Operating Officer and Head, Private Wealth

Conference Call Participants

Rick Roy - Jefferies & Company

Alex Blostein - Goldman Sachs

John Dunn - Evercore

Operator

Thank you for standing by. And welcome to the AllianceBernstein First Quarter 2022 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 for two weeks.

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

Mark Griffin

Thank you, Rayne. Good morning, everyone. And welcome to our first 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; Bill Siemers, Interim CFO, Controller and Chief Accounting Officer; Kate Burke, COO and Head of Private Wealth.

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 on slide two 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. First quarter results highlighted the resiliency of our globally diversified and differentiated services. Amid turbulent financial markets reflecting challenging inflationary pressures, rising interest rates and geopolitical conflict, AB continue to grow and invest in our future.

We gain share in both active equities which grew organically for the ninth quarter in a row and in municipals which grew organically for the seventh consecutive quarter, both bucking industry wide outflows. Offsetting these results was our taxable fixed income business, which saw higher outflows in the face of the worst quarterly fixed income returns in 40 years.