MIRA INFORM REPORT

 

 

Report Date :

03.09.2013

 

IDENTIFICATION DETAILS

 

Name :

ALLIANCEBERNSTEIN L.P.

 

 

Registered Office :

1345 Ave Of The Americas, New York, Ny 10105

 

 

Country :

United States

 

 

Financials (as on) :

31.12.2012

 

 

Year of Establishments:

1967

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

Subject provides investment management services for many of the largest U.S. public and private employee benefit plans, foundations, public employee retirement funds, pension funds, endowments, banks, insurance companies and high-net-worth individuals worldwide

 

 

No. of Employees :

3,318

 

RATING & COMMENTS

 

MIRAs Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Good

Payment Behaviour :

Regular

Litigation :

Clear

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List March 31st 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

United States

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 


united StaTes ECONOMIC OVERVIEW

 

The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $49,800. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, in October 2008 the US Congress established a $700 billion Troubled Asset Relief Program (TARP). The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012 the federal government reduced the growth of spending and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2011, the direct costs of the wars totaled nearly $900 billion, according to US government figures. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries. In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that will extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight. In December 2012, the Federal Reserve Board announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short term rates near zero until unemployment drops to 6.5% from the December rate of 7.8%, or until inflation rises above 2.5%. Long-term problems include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits - including significant budget shortages for state governments.

 

Source : CIA

Company name & address

 

AllianceBernstein L.P.

1345 AVE OF THE AMERICAS

New York, NY 10105

United States

Tel: 212-969-1000

Fax: 212-969-2293

Web: www.alliancebernstein.com

 

synthesis

 

Employees: 3,318

Company Type: Private Subsidiary

Corporate Family: 1185 Companies

Ultimate Parent: Axa SA

Incorporation Date: 1967

Auditor: PricewaterhouseCoopers LLP

Financials in: usd (millions)

Fiscal Year End: 31-Dec-2012

Reporting Currency: US Dollar

Annual Sales: 2,736.7 1

Net Income: 188.9

Total Assets: 8,115.0 2

 

 

Business Description

 

Alliance Capital provides investment management services for many of the largest U.S. public and private employee benefit plans, foundations, public employee retirement funds, pension funds, endowments, banks, insurance companies and high-net-worth individuals worldwide. Alliance Capital is also a mutual fund sponsor, with a diverse family of globally distributed mutual fund portfolios. For the six months ended 30 June 2013, AllianceBernstein L.P. revenues increased 9% to $1.44B. Net income increased 46% to $235.2M. Revenues reflect Investment advisory and services fees increase of 6% to $902.9M, Distribution revenues increase of 27% to $239.5M, Bernstein research services increase of 7% to $224.5M. Net income benefited from Real estate charges decrease of 84% to $2.6M (expense).

 

Industry

Industry Investment Services

ANZSIC 2006: 6419 - Other Auxiliary Finance and Investment Services

ISIC Rev 4: 6619 - Other activities auxiliary to financial service activities

NACE Rev 2: 6619 - Other activities auxiliary to financial services, except insurance and pension funding

NAICS 2012: 52392 - Portfolio Management

UK SIC 2007: 6619 - Other activities auxiliary to financial services, except insurance and pension funding

US SIC 1987: 6282 - Investment Advice

Key Executives 

(Emails Available)

 

Name

Title

Peter S. Kraus

Chairman of the Board, Chief Executive Officer of AllianceBernstein Corp.

John C. Weisenseel

Chief Financial Officer, Senior Vice President of AllianceBernstein Corp.

Nina Tannenbaum

Managing Director, Alternatives Sales and Client Services

James A. Gingrich

Chief Operating Officer of AllianceBernstein Corp.

Laurence E Cranch

General Counsel of AllianceBernstein Corp.

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1

2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1

 

 

Corporate Overview

 

Location

1345 AVE OF THE AMERICAS

New York, NY, 10105

New York County

United States

Tel: 212-969-1000

Fax: 212-969-2293

Web: www.alliancebernstein.com

Sales USD(mil): 2,736.7

Assets USD(mil): 8,115.0

Employees: 3,318

Fiscal Year End: 31-Dec-2012

Industry: Investment Services

Incorporation Date: 1967

Company Type: Private Subsidiary

Quoted Status: Not Quoted

 

Chairman of the Board, Chief Executive Officer of AllianceBernstein Corp.:

Peter S. Kraus

 

Industry Codes

ANZSIC 2006 Codes:

6419 - Other Auxiliary Finance and Investment Services

6240 - Financial Asset Investing

6411 - Financial Asset Broking Services

 

ISIC Rev 4 Codes:

6619 - Other activities auxiliary to financial service activities

6499 - Other financial service activities, except insurance and pension funding activities, n.e.c.

6612 - Security and commodity contracts brokerage

642 - Activities of holding companies

 

NACE Rev 2 Codes:

6619 - Other activities auxiliary to financial services, except insurance and pension funding

6499 - Other financial service activities, except insurance and pension funding, n.e.c.

6612 - Security and commodity contracts brokerage

642 - Activities of holding companies

 

NAICS 2012 Codes:

52392 - Portfolio Management

523910 - Miscellaneous Intermediation

551112 - Offices of Other Holding Companies

523110 - Investment Banking and Securities Dealing

 

US SIC 1987:

6282 - Investment Advice

6211 - Security Brokers, Dealers, and Flotation Companies

6799 - Investors, Not Elsewhere Classified

6719 - Offices of Holding Companies, Not Elsewhere Classified

 

UK SIC 2007:

6619 - Other activities auxiliary to financial services, except insurance and pension funding

6499 - Other financial service activities, except insurance and pension funding, n.e.c.

6612 - Security and commodity contracts brokerage

642 - Activities of holding companies

 

Business Description

Alliance Capital provides investment management services for many of the largest U.S. public and private employee benefit plans, foundations, public employee retirement funds, pension funds, endowments, banks, insurance companies and high-net-worth individuals worldwide. Alliance Capital is also a mutual fund sponsor, with a diverse family of globally distributed mutual fund portfolios. For the six months ended 30 June 2013, AllianceBernstein L.P. revenues increased 9% to $1.44B. Net income increased 46% to $235.2M. Revenues reflect Investment advisory and services fees increase of 6% to $902.9M, Distribution revenues increase of 27% to $239.5M, Bernstein research services increase of 7% to $224.5M. Net income benefited from Real estate charges decrease of 84% to $2.6M (expense).

 

More Business Descriptions

Financial Management Services

 

Establishments primarily engaged in furnishing investment information and advice to companies and individuals concerning securities and commodities on a contract or fee basis.

 

Our parent company Allianz SE is one of the leading financial services provider worldwide. Founded in 1890 Allianz has more than one hundred years of asset management expertise to its name. Back in 1998 Allianz saw the opportunity to create a unique asset management business by integrating all of its major asset management units under one roof.

 

AllianceBernstein Holding, formerly Alliance Capital, is a holding company for AllianceBernstein, a leading global investment management firm that provides investment management services for many of the largest United States public and private employee benefit plans, foundations, public employee retirement funds, pension funds, endowments, banks, insurance companies and high-net-worth individuals. AllianceBernstein is also one of the largest mutual fund sponsors, with a diverse family of globally distributed mutual fund portfolios. Through its subsidiary, Sanford C. Bernstein & Company, AllianceBernstein provides in-depth research, portfolio strategy and trade execution to the institutional investment community. AllianceBerstein Holding has headquarters in New York and trades on the New York Stock Exchange under the symbol AB.

 

 

Financial Data

Financials in:

USD(mil)

 

Revenue:

2,736.7

Net Income:

188.9

Assets:

8,115.0

Long Term Debt:

323.2

 

Total Liabilities:

4,355.3

 

 

 

Date of Financial Data:

31-Dec-2012

 

1 Year Growth

-0.5%

NA

NA

Key Corporate Relationships

Auditor:

PricewaterhouseCoopers LLP

Bank:

Alliancebernstein U S Real Estate

 

Auditor:

PricewaterhouseCoopers LLP

 

 

 

 

 

 

Additional Information

ABI Number:

680264751

 

 

 

 

 

Credit Report as of 06/01/2013

 

Location

1345 Avenue Of The Americas
New York, NY 10105-0249
United States

 

County:

New York

MSA:

New York, NY

 

Phone:

212-969-1000

Fax:

212-969-1334

URL:

http://alliancebernstein.com

 

KeyIDSM:

108410344

 

Annual Sales:

$2,749,891,000 (USD)

Employees:

3,318

 

Facility Size(ft2):

2,500 - 9,999

 

Business Type:

Private

Location Type:

Subsidiary

Corp. Affiliation:

AXA Financial Inc

 

Primary Line of Business:

SIC:

6282-03 - Financial Advisory Services

NAICS:

523930 - Investment Advice

Secondary Lines of Business:

NAICS:

525910 - Open-End Investment Funds

 

525990 - Other Financial Vehicles

 

525110 - Pension Funds

 

541613 - Marketing Consulting Svcs

SICs:

6371-98 - Pension Health & Welfare Funds

 

6722-98 - Management Investment Open-End

 

6726-99 - Unit Investment Trusts-Certificate Ofcs

 

8742-13 - Marketing Programs & Services

 

 

 

Corporate Family

Corporate Structure News:

 

Axa SA
AllianceBernstein L.P.

AllianceBernstein L.P. 
Total Corporate Family Members: 1185 
Excluded Small Branches and/or Trading Addresses: 307 (Available via export) 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Axa SA

Parent

Paris

France

Life and Health Insurance

154,552.0

97,901

AXA Konzern AG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Life and Health Insurance

 

10,898

AXA Krankenversicherung AG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Life and Health Insurance

 

651

DWK AG & Co. GrundstUcksgesellschaft K 2 KG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Real Estate Agents and Brokers

6.7

3

AXA Logistic Services GmbH

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Miscellaneous Personal Services

82.0

406

AXA Technology Services GmbH

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Internet and Web Services

176.4

320

VVS Holding Vertriebs-, Verwaltungs- und Service GmbH

Subsidiary

Bayreuth, Bayern

Germany

Holding Companies

49.2

265

AVS Allgemeine Verwaltungs- und Service GmbH

Subsidiary

Bayreuth, Bayern

Germany

Research and Development Services

 

175

BSW Verbraucher-Service Beamten-Selbsthilfewerk GmbH

Subsidiary

Bayreuth, Bayern

Germany

Miscellaneous Wholesale

 

70

AXA Customer Care GmbH

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Insurance Agents

28.1

250

Deutsche Ärzteversicherung AG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Life and Health Insurance

 

150

AXA Krankenversicherung Gesellschaft fUr die Betreuung von Maklern und Mehrfachagenten mbH

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Life and Health Insurance

147.7

100

AXA ART Versicherung AG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Life and Health Insurance

 

60

AXA Bank AG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Banking

 

47

ARA GmbH Auto und Reise ASSISTANCE

Subsidiary

Bad Windsheim, Bayern

Germany

Physicians and Health Practitioners

 

44

AXA Finanz Service GmbH

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Insurance Agents

2.8

19

Rheinisch-Westfälische Sterbekasse Lebensversicherung AG

Subsidiary

Essen, Nordrhein-Westfalen

Germany

Pensions and Funds

 

10

AXA ART Versicherung AG

Subsidiary

Munich

Germany

Insurance Agents

 

5

AXA Schaden Experten GmbH

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Insurance Agents

16.5

2

Venus Beteiligungsgesellschaft mbH

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Investment Services

 

2

AXA Beteiligungsgesellschaft mbH & Co. Beteiligungsgesellschaft KG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Investment Services

 

2

Deutsche Ärzte Finanz Beratungs- und Vermittlungs-Aktiengesellschaft

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Consulting Services

112.8

1

DBV Deutsche Beamtenversicherung Lebensversicherung AG

Subsidiary

Wiesbaden, Hessen

Germany

Insurance Agents

 

 

winExpertisa Gesellschaft zur FOrderung beruflicher Vorsorge mbH

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Insurance Agents

0.5

1

winsecura Pensionskasse AG

Subsidiary

Wiesbaden, Hessen

Germany

Pensions and Funds

 

 

Pro bAV Pensionskasse AG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Pensions and Funds

 

 

Axa Konzern Ag

Branch

Dreieich, Hessen

Germany

Holding Companies

 

 

AXA Financial

Subsidiary

New York, NY

United States

Life and Health Insurance

11,228.0

9,509

AXA Equitable Life Assurance Company

Subsidiary

New York, NY

United States

Insurance Agents

 

5,139

AXA Equitable Life Insurance Company

Subsidiary

New York, NY

United States

Insurance Agents

9,160.0

4,140

AXA Equitable

Branch

Syracuse, NY

United States

Insurance Agents

130.2

700

AXA Equitable

Branch

New Hyde Park, NY

United States

Insurance Agents

27.9

150

AXA Equitable

Branch

Irvine, CA

United States

Insurance Agents

18.8

101

AXA Equitable

Branch

Scottsdale, AZ

United States

Insurance Agents

15.1

81

AXA Equitable

Branch

Overland Park, KS

United States

Insurance Agents

9.3

50

AXA Equitable

Branch

Manasquan, NJ

United States

Insurance Agents

9.3

50

AXA Equitable

Branch

Rochester, NY

United States

Insurance Agents

9.3

50

AXA Equitable

Branch

Boca Raton, FL

United States

Insurance Agents

9.3

50

AXA Equitable

Branch

Hartford, CT

United States

Insurance Agents

7.8

42

AXA Equitable

Branch

Syracuse, NY

United States

Insurance Agents

7.4

40

AXA Equitable

Branch

Dayton, OH

United States

Insurance Agents

5.6

30

AXA Equitable

Branch

Oklahoma City, OK

United States

Insurance Agents

5.2

28

AXA Equitable

Branch

Nashville, TN

United States

Insurance Agents

4.7

25

AXA Equitable

Branch

Poughkeepsie, NY

United States

Insurance Agents

4.7

25

AXA Equitable

Branch

Hamden, CT

United States

Insurance Agents

4.7

25

AXA Equitable

Branch

Terrace Park, OH

United States

Insurance Agents

3.7

20

AXA Equitable

Branch

Marlton, NJ

United States

Insurance Agents

3.7

20

AXA Equitable

Branch

San Antonio, TX

United States

Insurance Agents

3.2

17

AXA Equitable

Branch

Falls Church, VA

United States

Insurance Agents

2.2

12

AllianceBernstein Holding LP

Subsidiary

New York, NY

United States

Investment Services

70.8

3,318

Sanford C. Bernstein & Co., LLP

Unit

New York, NY

United States

Investment Services

 

4,000

Bernstein Global Wealth Management

Branch

Los Angeles, CA

United States

Investment Services

50.2

70

Bernstein Global Wealth Management

Branch

West Palm Beach, FL

United States

Investment Services

35.1

49

Bernstein Global Wealth Management

Branch

San Francisco, CA

United States

Investment Services

28.7

40

Bernstein Global Wealth Management

Branch

Chicago, IL

United States

Investment Services

28.0

39

Bernstein Global Wealth Management

Branch

Dallas, TX

United States

Investment Services

25.1

35

Bernstein Global Wealth Management

Branch

Boston, MA

United States

Investment Services

21.5

30

Bernstein Global Wealth Management

Branch

Miami, FL

United States

Investment Services

21.5

30

Bernstein Global Wealth Management

Branch

Washington, DC

United States

Investment Services

20.1

28

Bernstein Global Wealth Management

Branch

San Francisco, CA

United States

Investment Services

20.1

28

Bernstein Global Wealth Management

Branch

Minneapolis, MN

United States

Investment Services

17.9

25

Bernstein Global Wealth Management

Branch

Houston, TX

United States

Investment Services

17.2

24

Alliance Bernstein Income Fund

Branch

New York, NY

United States

Investment Services

17.2

24

Bernstein Global Wealth Management

Branch

Tampa, FL

United States

Investment Services

14.3

20

Bernstein Global Wealth Management

Branch

Denver, CO

United States

Investment Services

14.3

20

Bernstein Global Wealth Management

Branch

Philadelphia, PA

United States

Investment Services

14.3

20

Bernstein Global Wealth Management

Branch

Seattle, WA

United States

Investment Services

11.5

16

Bernstein Global Wealth Management

Branch

San Diego, CA

United States

Investment Services

10.0

14

AllianceBernstein L.P.

Subsidiary

New York, NY

United States

Investment Services

2,736.7

3,269

Alliance Bernstein

Branch

New York, NY

United States

Investment Services

179.3

250

AllianceBernstein Hong Kong Limited

Subsidiary

Central

Hong Kong

Investment Services

 

120

AllianceBernstein (Singapore) Limited

Subsidiary

Singapore

Singapore

Investment Services

 

50

Alliance Bernstein

Branch

Miami, FL

United States

Investment Services

21.5

30

Alliance Bernstein

Branch

Chicago, IL

United States

Investment Services

19.4

27

Alliance Bernstein

Branch

San Antonio, TX

United States

Investment Services

17.2

24

Alliance Bernstein

Branch

Denver, CO

United States

Investment Services

17.2

24

Alliance Bernstein

Branch

Piscataway, NJ

United States

Investment Services

17.2

24

Alliance Bernstein

Branch

Washington, DC

United States

Investment Services

17.2

24

Alliance Bernstein Investment

Branch

Plano, TX

United States

Investment Services

17.2

24

Alliance Bernstein Investment

Branch

San Antonio, TX

United States

Investment Services

17.2

24

Alliance Bernstein

Branch

Minneapolis, MN

United States

Investment Services

14.3

20

Alliance Bernstein

Branch

Philadelphia, PA

United States

Investment Services

14.3

20

Alliance Bernstein

Branch

Cleveland, OH

United States

Investment Services

14.3

20

AllianceBernstein Canada, Inc

Subsidiary

Toronto, ON

Canada

Investment Services

 

5

AllianceBernstein Limited

Subsidiary

Manama

Bahrain

Investment Services

 

2

AllianceBernstein (France) S.A.S.

Subsidiary

Paris

France

Investment Services

2.5

1

AllianceBernstein Japan Ltd

Subsidiary

Tokyo

Japan

Investment Services

 

 

AXA Towarzystwo Funduszy Inwestycyjnych S.A.

Subsidiary

Warsaw

Poland

Investment Services

 

 

AllianceBernstein Investment Management Australia Limited

Subsidiary

Sydney, NSW

Australia

Investment Services

 

 

ACMBernstein GmbH

Subsidiary

Munich

Germany

Investment Services

 

 

AllianceBernstein Asset Management (Korea) Ltd.

Subsidiary

Seoul

Korea, Republic of

Investment Services

 

 

AllianceBernstein Global Wealth Management

Subsidiary

New York, NY

United States

Investment Services

 

 

AllianceBernstein Institutional Investments

Subsidiary

New York, NY

United States

Investment Services

 

 

AllianceBernstein (Argentina) S.R.L

Subsidiary

Buenos Aires

Argentina

Investment Services

 

 

AllianceBernstein Taiwan Limited

Subsidiary

Kaohsiung

Taiwan

Investment Services

 

 

AllianceBernstein Investments Taiwan Limited

Subsidiary

Taipei

Taiwan

Investment Services

 

 

AllianceBernstein Limited

Subsidiary

Madrid

Spain

Investment Services

 

 

AllianceBernstein (Luxembourg) S.A.

Subsidiary

Luxembourg

Luxembourg

Investment Services

 

 

AllianceBernstein Australia Limited

Subsidiary

Melbourne, VIC

Australia

Investment Services

 

 

Sanford C. Bernstein (Crest Nominees) Ltd.

Subsidiary

London

United Kingdom

Nonclassifiable Establishments

 

200

Alliancebernstein Holding L P

Branch

White Plains, NY

United States

Holding Companies

224.3

144

Alliancebernstein Services Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

44.5

67

ACM Bernstein GmbH

Subsidiary

Munich

Germany

Investment Services

 

8

AllianceBernstein Investor Services, Inc.

Subsidiary

San Antonio, TX

United States

Investment Services

 

 

AllianceBernstein Global Derivatives Corporation

Subsidiary

New York, NY

United States

Investment Services

 

 

AllianceBernstein Investments, Inc.

Subsidiary

New York, NY

United States

Investment Services

 

 

The Advest Group, Inc.

Subsidiary

Hartford, CT

United States

Securities

 

1,700

Boston Advisors LLC

Subsidiary

Boston, MA

United States

Investment Services

3.6

42

Advest Bank & Trust Company

Subsidiary

Hartford, CT

United States

Banking

 

20

MONY Life Insurance Co

Subsidiary

New York, NY

United States

Insurance Agents

 

500

AXA Distributors, LLC.

Subsidiary

New York, NY

United States

Life and Health Insurance

 

200

AXA Distributors

Branch

Farmington, CT

United States

Insurance Agents

27.9

150

AXA Network, LLC

Subsidiary

Harrisburg, PA

United States

Insurance Agents

 

180

AXA Corp. Solutions Insurance Company

Subsidiary

New York, NY

United States

Insurance Agents

17.9

80

AXA Advisors

Branch

Indianapolis, IN

United States

Investment Services

35.9

50

Sanford C Bernstein & Co LLC

Subsidiary

New York, NY

United States

Investment Services

 

24

Sanford C Bernstein & Co

Branch

New York, NY

United States

Investment Services

17.2

24

US Financial Life Insurance Co

Subsidiary

Syracuse, NY

United States

Insurance Agents

 

11

AXA Advisors, LLC

Subsidiary

Minneapolis, MN

United States

Securities

107.6

8

AXA Advisors, LLC

Subsidiary

New York, NY

United States

Investment Services

157.0

5

AXA Advisors

Branch

Charlotte, NC

United States

Investment Services

538.5

751

AXA Advisors

Branch

Bala Cynwyd, PA

United States

Investment Services

286.8

400

AXA Advisors

Branch

New Hyde Park, NY

United States

Investment Services

215.1

300

AXA Advisors

Branch

Edison, NJ

United States

Investment Services

143.4

200

AXA Advisors

Branch

Woodbridge, NJ

United States

Investment Services

107.6

150

AXA Advisors

Branch

Falls Church, VA

United States

Investment Services

100.4

140

AXA Advisors

Branch

Denver, CO

United States

Investment Services

93.2

130

AXA Advisors

Branch

San Francisco, CA

United States

Investment Services

86.0

120

AXA Advisors

Branch

Los Angeles, CA

United States

Investment Services

86.0

120

AXA Advisors

Branch

St Louis, MO

United States

Investment Services

71.0

99

AXA Advisors

Branch

St Louis, MO

United States

Investment Services

57.4

80

AXA Advisors

Branch

Woodland Hills, CA

United States

Investment Services

53.8

75

AXA Advisors

Branch

Bellevue, WA

United States

Investment Services

50.2

70

AXA Advisors

Branch

Atlanta, GA

United States

Investment Services

50.2

70

AXA Advisors

Branch

Wellesley, MA

United States

Investment Services

50.2

70

AXA Advisors

Branch

Fort Lauderdale, FL

United States

Investment Services

50.2

70

AXA Advisors

Branch

Williamsville, NY

United States

Investment Services

50.2

70

AXA Advisors

Branch

Rochester, NY

United States

Investment Services

50.2

70

AXA Advisors

Branch

Clifton Park, NY

United States

Investment Services

43.0

60

AXA Advisors

Branch

Orlando, FL

United States

Investment Services

43.0

60

AXA Advisors

Branch

Scottsdale, AZ

United States

Investment Services

43.0

60

AXA Advisors

Branch

San Diego, CA

United States

Investment Services

43.0

60

AXA Advisors

Branch

Raleigh, NC

United States

Investment Services

35.9

50

AXA Advisors

Branch

Richmond, VA

United States

Investment Services

35.9

50

AXA Advisors

Branch

Oak Brook, IL

United States

Investment Services

35.9

50

AXA Advisors

Branch

Columbia, MD

United States

Investment Services

28.7

40

AXA Advisors

Branch

Los Angeles, CA

United States

Investment Services

28.7

40

AXA Advisors

Branch

Fort Lee, NJ

United States

Investment Services

28.7

40

AXA Advisors

Branch

Honolulu, HI

United States

Investment Services

28.7

40

AXA Advisors

Branch

Omaha, NE

United States

Investment Services

28.7

40

AXA Advisors

Branch

Morristown, NJ

United States

Investment Services

28.7

40

AXA Advisors

Branch

Salt Lake City, UT

United States

Investment Services

28.7

40

AXA Advisors

Branch

Tampa, FL

United States

Investment Services

28.7

40

AXA Advisors

Branch

Brentwood, CA

United States

Investment Services

28.7

40

AXA Advisors

Branch

Houston, TX

United States

Investment Services

28.7

40

AXA Advisors

Branch

Dayton, OH

United States

Investment Services

25.8

36

AXA Advisors

Branch

Birmingham, AL

United States

Investment Services

25.1

35

AXA Advisors

Branch

Akron, OH

United States

Investment Services

21.5

30

AXA Advisors

Branch

Cleveland, OH

United States

Investment Services

21.5

30

AXA Advisors

Branch

New Orleans, LA

United States

Investment Services

21.5

30

AXA Advisors

Branch

Jacksonville, FL

United States

Investment Services

20.8

29

AXA Advisors

Branch

Oklahoma City, OK

United States

Investment Services

20.1

28

AXA Advisors

Branch

Lexington, KY

United States

Investment Services

17.9

25

AXA Advisors

Branch

Grand Rapids, MI

United States

Investment Services

17.9

25

AXA Advisors

Branch

Peoria, IL

United States

Investment Services

17.9

25

AXA Advisors

Branch

Nashville, TN

United States

Investment Services

17.9

25

AXA Advisors

Branch

Austin, TX

United States

Investment Services

17.9

25

AXA Advisors

Branch

Roanoke, VA

United States

Investment Services

17.9

25

AXA Advisors

Branch

Lancaster, PA

United States

Investment Services

14.3

20

AXA Advisors

Branch

Princeton, NJ

United States

Investment Services

14.3

20

AXA Advisors

Branch

Poughkeepsie, NY

United States

Investment Services

14.3

20

AXA Advisors

Branch

The Woodlands, TX

United States

Investment Services

14.3

20

AXA Advisors

Branch

San Antonio, TX

United States

Investment Services

12.2

17

AXA Advisors

Branch

Wichita, KS

United States

Investment Services

10.8

15

AXA Advisors

Branch

Saginaw, MI

United States

Investment Services

10.8

15

AXA Advisors

Branch

Chattanooga, TN

United States

Investment Services

10.8

15

AXA Advisors

Branch

Sarasota, FL

United States

Investment Services

10.8

15

AXA Advisors

Branch

Tulsa, OK

United States

Investment Services

10.8

15

AXA Advisors

Branch

Durham, NC

United States

Investment Services

10.8

15

AXA Advisors

Branch

Mt Pleasant, SC

United States

Investment Services

10.8

15

AXA Advisors

Branch

Walnut Creek, CA

United States

Investment Services

10.8

15

AXA Advisors

Branch

Columbia, SC

United States

Investment Services

10.8

15

AXA Advisors

Branch

High Point, NC

United States

Investment Services

10.0

14

AXA Advisors

Branch

Green Bay, WI

United States

Investment Services

8.6

12

AXA Advisors

Branch

Okemos, MI

United States

Investment Services

8.6

12

AXA Advisors

Branch

Selma, AL

United States

Investment Services

8.6

12

AXA Advisors

Branch

Erie, PA

United States

Investment Services

8.6

12

AXA Advisors

Branch

Melville, NY

United States

Investment Services

8.6

12

AXA Advisors

Branch

Milford, CT

United States

Investment Services

7.2

10

AXA Advisors

Branch

Rockville, MD

United States

Investment Services

7.2

10

AXA Advisors

Branch

West Des Moines, IA

United States

Investment Services

7.2

10

AXA Advisors

Branch

Springfield, IL

United States

Investment Services

7.2

10

AXA Advisors

Branch

Lebanon, TN

United States

Investment Services

6.5

9

AXA Advisors

Branch

Fresno, CA

United States

Investment Services

6.5

9

AXA Advisors

Branch

Wausau, WI

United States

Investment Services

5.7

8

AXA Advisors

Branch

Decatur, IL

United States

Investment Services

5.7

8

AXA Advisors

Branch

Las Vegas, NV

United States

Investment Services

5.7

8

AXA Advisors

Branch

Grand Junction, CO

United States

Investment Services

5.7

8

AXA Advisors

Branch

Sioux Falls, SD

United States

Investment Services

5.7

8

AXA Advisors

Branch

Baton Rouge, LA

United States

Investment Services

5.7

8

AXA Advisors

Branch

Toledo, OH

United States

Investment Services

5.7

8

AXA Advisors

Branch

New York, NY

United States

Investment Services

5.7

8

AXA Advisors

Branch

Westport, CT

United States

Investment Services

5.0

7

AXA Advisors

Branch

Arlington Hts, IL

United States

Investment Services

5.0

7

AXA Advisors

Branch

Albuquerque, NM

United States

Investment Services

5.0

7

AXA Advisors

Branch

Cleveland, OH

United States

Investment Services

5.0

7

AXA Advisors

Branch

Houston, TX

United States

Investment Services

4.3

6

AXA Advisors

Branch

Chesterfield, MO

United States

Investment Services

4.3

6

AXA Advisors

Branch

Charleston, WV

United States

Investment Services

4.3

6

AXA Advisors

Branch

Fort Myers, FL

United States

Investment Services

4.3

6

AXA Advisors

Branch

Redlands, CA

United States

Investment Services

4.3

6

AXA Advisors

Branch

Vestal, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

East Greenwich, RI

United States

Investment Services

3.6

5

AXA Advisors

Branch

Fairmont, WV

United States

Investment Services

3.6

5

AXA Advisors

Branch

Provo, UT

United States

Investment Services

3.6

5

AXA Advisors

Branch

Ridgeland, MS

United States

Investment Services

3.6

5

AXA Advisors

Branch

Beaumont, TX

United States

Investment Services

3.6

5

AXA Advisors

Branch

West Des Moines, IA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Grand Rapids, MI

United States

Investment Services

3.6

5

AXA Advisors

Branch

Westfield, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Stamford, CT

United States

Investment Services

3.6

5

AXA Advisors

Branch

Waukesha, WI

United States

Investment Services

3.6

5

AXA Advisors

Branch

Asheboro, NC

United States

Investment Services

3.6

5

AXA Advisors

Branch

Anniston, AL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Greenville, SC

United States

Investment Services

3.6

5

AXA Advisors

Branch

New Hartford, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Orlando, FL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Pt Pleasant Bch, NJ

United States

Investment Services

3.6

5

AXA Advisors

Branch

San Francisco, CA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Boise, ID

United States

Investment Services

3.6

5

AXA Advisors

Branch

Secaucus, NJ

United States

Investment Services

3.6

5

AXA Advisors

Branch

Corpus Christi, TX

United States

Investment Services

3.6

5

AXA Advisors

Branch

Stamford, CT

United States

Investment Services

3.6

5

AXA Advisors

Branch

Kingston, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Syracuse, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Hingham, MA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Monroe, LA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Rocky Mount, NC

United States

Investment Services

3.6

5

AXA Advisors

Branch

N Richland Hills, TX

United States

Investment Services

3.6

5

AXA Advisors

Branch

Altamonte Spgs, FL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Chicago, IL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Boca Raton, FL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Mobile, AL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Troy, MI

United States

Investment Services

3.6

5

AXA Advisors

Branch

Cedar Rapids, IA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Chicago, IL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Knoxville, TN

United States

Investment Services

3.6

5

AXA Advisors

Branch

Miami, FL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Lutherville, MD

United States

Investment Services

3.6

5

AXA Advisors

Branch

Merrick, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Pasadena, TX

United States

Investment Services

3.6

5

AXA Advisors

Branch

Garden City, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Huntsville, AL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Lafayette, LA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Hutchinson, KS

United States

Investment Services

3.6

5

AXA Advisors

Branch

Danbury, CT

United States

Investment Services

3.6

5

AXA Advisors

Branch

Henrico, VA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Savannah, GA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Dickson, TN

United States

Investment Services

3.6

5

AXA Advisors

Branch

Cleveland, TN

United States

Investment Services

3.6

5

AXA Advisors

Branch

Larkspur, CA

United States

Investment Services

3.6

5

AXA Advisors

Branch

El Paso, TX

United States

Investment Services

3.6

5

AXA Advisors

Branch

Louisville, KY

United States

Investment Services

3.6

5

AXA Advisors

Branch

City Of Industry, CA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Deptford, NJ

United States

Investment Services

3.6

5

AXA Advisors

Branch

Alton, IL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Waite Park, MN

United States

Investment Services

3.6

5

AXA Advisors

Branch

St Matthews, KY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Greer, SC

United States

Investment Services

3.6

5

AXA Advisors

Branch

Cincinnati, OH

United States

Investment Services

3.6

5

AXA Advisors

Branch

Pikesville, MD

United States

Investment Services

3.6

5

AXA Advisors

Branch

Racine, WI

United States

Investment Services

3.6

5

AXA Advisors

Branch

Dearborn, MI

United States

Investment Services

3.6

5

AXA Advisors

Branch

Troy, MI

United States

Investment Services

3.6

5

AXA Advisors

Branch

Dallas, TX

United States

Investment Services

3.6

5

AXA Advisors

Branch

Naperville, IL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Dickson, TN

United States

Investment Services

3.6

5

AXA Advisors

Branch

Naperville, IL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Yucaipa, CA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Miramar, FL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Bossier City, LA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Newport Beach, CA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Concord, CA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Yakima, WA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Hurst, TX

United States

Investment Services

3.6

5

AXA Advisors

Branch

Rosemont, IL

United States

Investment Services

3.6

5

AXA Advisors

Branch

New Hartford, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

San Francisco, CA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Wilton Manors, FL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Fort Lauderdale, FL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Alexandria, LA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Alexandria, LA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Wellesley, MA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Salt Lake City, UT

United States

Investment Services

3.6

5

AXA Advisors

Branch

Pittsburgh, PA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Boise, ID

United States

Investment Services

3.6

5

AXA Advisors

Branch

Wading River, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Neptune, NJ

United States

Investment Services

3.6

5

AXA Advisors

Branch

Milwaukee, WI

United States

Investment Services

3.6

5

AXA Advisors

Branch

Vinton, VA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Athens, AL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Roanoke, VA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Pittsburgh, PA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Greenville, SC

United States

Investment Services

3.6

5

AXA Advisors

Branch

Spartanburg, SC

United States

Investment Services

3.6

5

AXA Advisors

Branch

Pikesville, MD

United States

Investment Services

3.6

5

AXA Advisors

Branch

Wilmington, NC

United States

Investment Services

3.6

5

AXA Advisors

Branch

Winston Salem, NC

United States

Investment Services

3.6

5

AXA Advisors

Branch

Leland, NC

United States

Investment Services

3.6

5

AXA Advisors

Branch

Normal, IL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Atlantic, IA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Cresco, PA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Liverpool, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Ballston Spa, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Warwick, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Ghent, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Tupelo, MS

United States

Investment Services

3.6

5

AXA Advisors

Branch

Lewisburg, WV

United States

Investment Services

3.6

5

AXA Advisors

Branch

Smithtown, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Brooklyn, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Havelock, NC

United States

Investment Services

3.6

5

AXA Advisors

Branch

Severna Park, MD

United States

Investment Services

3.6

5

AXA Advisors

Branch

Yukon, OK

United States

Investment Services

3.6

5

AXA Advisors

Branch

Grand Forks, ND

United States

Investment Services

3.6

5

AXA Advisors

Branch

South Hampton, NH

United States

Investment Services

3.6

5

AXA Advisors

Branch

Greensboro, NC

United States

Investment Services

3.6

5

AXA Advisors

Branch

San Francisco, CA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Glens Falls, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Rock Springs, WY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Riverton, WY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Las Cruces, NM

United States

Investment Services

3.6

5

AXA Advisors

Branch

Hillsborough, NJ

United States

Investment Services

3.6

5

AXA Advisors

Branch

Ponca City, OK

United States

Investment Services

3.6

5

AXA Advisors

Branch

Willmar, MN

United States

Investment Services

3.6

5

AXA Advisors

Branch

Manalapan, NJ

United States

Investment Services

3.6

5

AXA Advisors

Branch

Grand Blanc, MI

United States

Investment Services

3.6

5

AXA Advisors

Branch

St Augustine, FL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Phoenix, MD

United States

Investment Services

3.6

5

AXA Advisors

Branch

Montgomery, AL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Stamford, CT

United States

Investment Services

3.6

5

AXA Advisors

Branch

St Louis, MO

United States

Investment Services

3.6

5

AXA Advisors

Branch

Akron, OH

United States

Investment Services

3.6

5

AXA Advisors

Branch

Atlanta, GA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Wellesley Hills, MA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Raleigh, NC

United States

Investment Services

3.6

5

AXA Advisors

Branch

East Northport, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Plano, TX

United States

Investment Services

3.6

5

AXA Advisors

Branch

Houston, TX

United States

Investment Services

3.6

5

AXA Advisors

Branch

Sparta, NJ

United States

Investment Services

3.6

5

AXA Advisors

Branch

Grand Rapids, MI

United States

Investment Services

3.6

5

AXA Advisors

Branch

Athens, AL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Midland, MI

United States

Investment Services

3.6

5

AXA Advisors

Branch

Lewisburg, PA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Auburn, AL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Garden City, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Springfield, IL

United States

Investment Services

3.6

5

AXA Advisors

Branch

Provo, UT

United States

Investment Services

3.6

5

AXA Advisors

Branch

Madison, WI

United States

Investment Services

3.6

5

AXA Advisors

Branch

Lexington, KY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Clarksville, TN

United States

Investment Services

3.6

5

AXA Advisors

Branch

Wappingers Falls, NY

United States

Investment Services

3.6

5

AXA Advisors

Branch

Charlotte, NC

United States

Investment Services

3.6

5

AXA Advisors

Branch

St Louis, MO

United States

Investment Services

3.6

5

AXA Advisors

Branch

Madisonville, LA

United States

Investment Services

3.6

5

AXA Advisors

Branch

Monterey Park, CA

United States

Investment Services

3.6

5

MONY Life Insurance Co of America

Subsidiary

New York, NY

United States

Life and Health Insurance

285.0

3

MONY Life Insurance Company of the Americas, Ltd.

Subsidiary

Georgetown, Grand Cayman

Cayman Islands

Life and Health Insurance

 

2

AXA Life Insurance Co Ltd

Subsidiary

Tokyo

Japan

Life and Health Insurance

 

8,000

AXA Japan Holding Co.

Subsidiary

Tokyo

Japan

Insurance Agents

 

7,000

NEXTIA Life Insurance Co., Ltd.

Subsidiary

Tokyo

Japan

Life and Health Insurance

 

 

AXA Holdings Belgium SA/NV

Subsidiary

Bruxelles

Belgium

Holding Companies

 

6,140

AXA Belgium SA/NV

Subsidiary

Bruxelles

Belgium

Life and Health Insurance

 

4,695

AXA Bank Europe SA/NV

Subsidiary

Brussels

Belgium

Banking

 

1,090

Axa Belgium Finance (Nl) B.V.

Subsidiary

Breda, Noord-Brabant

Netherlands

Banking

 

 

AXA Bank Hungary

Subsidiary

Budapest

Hungary

Banking

 

 

Axa Szolgaltato Korlatolt Felelossegu Tarsasag

Subsidiary

Budapest

Hungary

Investment Services

27.5

277

Touring

Subsidiary

Bruxelles

Belgium

Property and Causality Insurance

30.3

246

L'Ardenne Prévoyante SA/NV

Subsidiary

Stavelot

Belgium

Life and Health Insurance

 

70

Axa UK PLC

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

4,500

Guardian Royal Exchange PLC

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

5,548.4

6,613

Axa Services Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

626.5

3,888

Ignition New Business Solutions Ltd.

Subsidiary

London

United Kingdom

Consulting Services

0.5

9

Axa Ppp Healthcare Group PLC

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

167.4

2,161

Health-On-Line Co. UK Ltd.

Subsidiary

Bournemouth

United Kingdom

Banking

18.5

92

Axa Ppp Healthcare Administration Services Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

17.3

 

Axa Icas Occupational Health Services Ltd.

Subsidiary

London

United Kingdom

Consulting Services

15.6

 

Icas International Holdings Ltd.

Subsidiary

London

United Kingdom

Holding Companies

0.0

 

Axa Icas Ltd.

Subsidiary

Glasgow

United Kingdom

Miscellaneous Personal Services

11.4

148

Icas International Ltd.

Subsidiary

London

United Kingdom

Consulting Services

0.7

 

Priplan Investments Ltd.

Subsidiary

London

United Kingdom

Holding Companies

 

 

Securehealth (Holdings) Ltd.

Subsidiary

London

United Kingdom

Life and Health Insurance

 

 

Independent Sales Force Solutions Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

16.1

 

Securehealth Ltd.

Subsidiary

Leeds

United Kingdom

Life and Health Insurance

11.4

 

Essential Healthcare Ltd.

Subsidiary

Glasgow

United Kingdom

Pensions and Funds

 

 

Axa Insurance PLC

Subsidiary

Ipswich

United Kingdom

Life and Health Insurance

 

350

Axa Insurance Ltd.

UK Branch/Trading address

Ipswich

United Kingdom

Insurance Agents

 

1,000

Axa Insurance U K PLC

UK Branch/Trading address

Bolton

United Kingdom

Property and Causality Insurance

 

375

Axa Insurance PLC

UK Branch/Trading address

Glasgow

United Kingdom

Property and Causality Insurance

 

350

Axa General Insurance Ltd.

UK Branch/Trading address

Lytham St Annes

United Kingdom

Insurance Agents

 

28

Axa Insurance UK PLC

Subsidiary

London

United Kingdom

Life and Health Insurance

3,138.6

 

Axa Ppp Healthcare Ltd.

Subsidiary

Tunbridge Wells

United Kingdom

Life and Health Insurance

1,736.0

 

Axa PPP Healthcare

UK Branch/Trading address

Tunbridge Wells

United Kingdom

Property and Causality Insurance

1,736.0

175

Axa General Insurance Ltd.

Subsidiary

London

United Kingdom

Life and Health Insurance

0.2

 

Aquis Securities Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

 

 

Aquis Property Co. Ltd. (The)

Subsidiary

London

United Kingdom

Investment Services

 

 

Aquis Estates Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

 

 

Gre Nominee Shareholdings Ltd.

Subsidiary

London

United Kingdom

Nonclassifiable Establishments

 

 

Architas Multi-Manager Ltd.

Subsidiary

London

United Kingdom

Banking

61.8

 

Axa Portfolio Services Ltd.

Subsidiary

London

United Kingdom

Banking

34.7

 

Architas Advisory Services Ltd.

Subsidiary

London

United Kingdom

Banking

5.3

 

Axa Sun Life Direct Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

0.6

 

Sun Life Corporation Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Sun Life International Ltd.

Subsidiary

London

United Kingdom

Pensions and Funds

 

 

Sun Life Smc Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Sun Life And Provincial Quest Trustee Co. Ltd.

Subsidiary

London

United Kingdom

Investment Services

 

 

Axa Uk Pension Trustees Corporation

Subsidiary

London

United Kingdom

Insurance Agents

 

 

Winterthur UK Financial Services Group Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Winterthur Financial Services Uk Holdings Ltd.

Subsidiary

London

United Kingdom

Holding Companies

 

 

Winterthur Trustee Services Ltd.

Subsidiary

London

United Kingdom

Pensions and Funds

 

 

Winterthur Life UK Holdings Ltd.

Subsidiary

London

United Kingdom

Life and Health Insurance

 

 

Axa Wealth Services Ltd.

Subsidiary

London

United Kingdom

Banking

30.8

 

Gbi (Holdings) Ltd

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Swiftcover Insurance Services Ltd

Subsidiary

London

United Kingdom

Life and Health Insurance

130.3

651

Supplier And Incident Management Solutions Ltd.

Subsidiary

London

United Kingdom

Consulting Services

30.5

517

Sims Claims Services Ltd.

Subsidiary

Tunbridge Wells

United Kingdom

Miscellaneous Professional Services

25.2

468

Knight Law Ltd.

Subsidiary

London

United Kingdom

Legal Services

3.9

35

Knight Rehabilitation Services Ltd.

Subsidiary

London

United Kingdom

Physicians and Health Practitioners

1.0

14

Bluefin Group Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Bluefin Insurance Group Ltd.

Subsidiary

Southampton

United Kingdom

Banking

195.2

1,436

Bluefin Insurance Services Ltd.

Subsidiary

London

United Kingdom

Life and Health Insurance

189.2

1,393

Davies Group Ltd.

Subsidiary

Reading

United Kingdom

Life and Health Insurance

65.9

587

Davies Managed Systems Ltd.

Subsidiary

Reading

United Kingdom

Banking

10.2

117

Farradane Ltd.

Subsidiary

Reading

United Kingdom

Miscellaneous Professional Services

17.8

82

Eastwell Contractor Management And Claim Care Ltd.

Subsidiary

Reading

United Kingdom

Miscellaneous Professional Services

13.2

82

Ufton Associates Ltd.

Subsidiary

London

United Kingdom

Life and Health Insurance

1.1

7

Storm Trustees Ltd.

Subsidiary

Reading

United Kingdom

Holding Companies

 

 

Davies Assist Ltd.

Subsidiary

Reading

United Kingdom

Insurance Agents

 

 

Bbps Ltd.

Subsidiary

Coventry

United Kingdom

Life and Health Insurance

6.0

43

Kendal Paint & Colour Co. Ltd.

Subsidiary

Kendal

United Kingdom

Home and Garden Retail

 

7

Ross Lloyd Ltd.

Subsidiary

Carlisle

United Kingdom

Life and Health Insurance

0.2

18

Bonsure Insurance Brokers Ltd.

Subsidiary

Dartford

United Kingdom

Insurance Agents

 

5

Sbj Holdings Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

0.0

 

Sbj Stephenson Group Ltd.

Subsidiary

London

United Kingdom

Holding Companies

 

 

Bluefin Insurance Holdings Ltd.

Subsidiary

London

United Kingdom

Life and Health Insurance

 

 

Anchor (Uk) Ltd.

Subsidiary

Milton Keynes

United Kingdom

Nonclassifiable Establishments

 

 

Sbj (No. 2) Ltd.

Subsidiary

London

United Kingdom

Nonclassifiable Establishments

 

 

Bluefin Underwriting Ltd.

Subsidiary

London

United Kingdom

Nonclassifiable Establishments

 

 

Sbj Group Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

0.4

 

Morgan James & Co Ltd.

Subsidiary

London

United Kingdom

Pensions and Funds

 

 

Oldco (No. 1) Ltd.

Subsidiary

London

United Kingdom

Nonclassifiable Establishments

 

 

Sbj Group Pension Scheme Trustees Ltd.

Subsidiary

London

United Kingdom

Insurance Agents

 

 

AXA France Vie SA

Subsidiary

Nanterre

France

Life and Health Insurance

 

4,500

AXA Epargne Entreprise

Subsidiary

Nanterre

France

Insurance Agents

 

74

AXA Portugal, Companhia de Seguros de Vida S.A.

Subsidiary

Lisboa

Portugal

Life and Health Insurance

 

61

Parimmo

Subsidiary

Courbevoie

France

Property Managers

4.6

 

AXA Seguros SA de CV

Subsidiary

Mexico, DF

Mexico

Insurance Agents

 

4,200

AXA Winterthur

Subsidiary

Winterthur

Switzerland

Life and Health Insurance

 

3,871

Winterthur Life & Pensions AG

Subsidiary

Winterthur

Switzerland

Property and Causality Insurance

 

9,000

Winterthur Insurance Co

Subsidiary

Winterthur

Switzerland

Property and Causality Insurance

 

2,500

Winterthur Financial Services UK Ltd.

Subsidiary

Basingstoke

United Kingdom

Miscellaneous Professional Services

447.9

2,092

DBV-Winterthur Holding AG

Subsidiary

Wiesbaden

Germany

Insurance Agents

 

2,000

Seguros Atlas S.A.

Subsidiary

Mexico, DF

Mexico

Property and Causality Insurance

 

493

Technopark Immobilien AG

Subsidiary

Zurich

Switzerland

Internet and Web Services

 

8

La Equitativa de Madrid

Subsidiary

Madrid

Spain

Property and Causality Insurance

 

 

AXA Winterthur Pensiones

Subsidiary

Barcelona

Spain

Property and Causality Insurance

 

 

AXA Winterthur Insurance (Asia) Ltd.

Subsidiary

Shanghai

China

Insurance Agents

 

 

AXA Versicherungen AG

Subsidiary

Winterthur, Zurich

Switzerland

Pensions and Funds

22,676.8

3,000

Axa Versicherungen Ag

Branch

Lausanne, Vaud

Switzerland

Life and Health Insurance

 

 

AXA Technology Services Switzerland AG

Subsidiary

Winterthur

Switzerland

Computer System Design Services

 

3,000

AXA France Assurance SAS

Subsidiary

Nanterre

France

Life and Health Insurance

 

2,950

AXA France IARD SA

Subsidiary

Nanterre

France

Life and Health Insurance

 

4,500

Union Guinéenne d'Assurances et de Réassurances

Subsidiary

Conakry

Guinea

Life and Health Insurance

 

95

AXA Corporate Solutions Assurance SA

Subsidiary

Paris

France

Property and Causality Insurance

 

1,499

Axa Corporate Solutions Services UK Ltd.

Subsidiary

London

United Kingdom

Life and Health Insurance

36.2

266

AXA Corporate Solutions

Subsidiary

Milan

Italy

Insurance Agents

 

86

Axa Corporate Solutions Assurance

Branch

Quarry Bay, Hong Kong

Hong Kong

Insurance Agents

1,583.7

15

Axa Corporate Solutions Services

Subsidiary

Paris

France

Miscellaneous Professional Services

24.2

9

Avanssur SA

Subsidiary

Nanterre

France

Property and Causality Insurance

179.8

749

AXA Banque SA

Subsidiary

Paris

France

Banking

 

749

Direct Assurance Vie

Subsidiary

Nanterre

France

Life and Health Insurance

 

374

Juridica SA

Subsidiary

Marly-le-Roi

France

Property and Causality Insurance

 

224

AXA Business Services Private Limited

Subsidiary

Bengaluru

India

Miscellaneous Professional Services

 

2,500

AXA Canada Inc

Subsidiary

North York, ON

Canada

Life and Health Insurance

 

2,500

AXA Leben AG

Subsidiary

Winterthur

Switzerland

Life and Health Insurance

 

1,850

ZUrcher Freilager AG

Subsidiary

ZUrich

Switzerland

Commercial Real Estate Leasing

20.9

25

AXA General Insurance Co., Ltd.

Subsidiary

Seoul

Korea, Republic of

Life and Health Insurance

593.5

1,525

AXA Assicurazioni SpA

Subsidiary

Milano, MI

Italy

Life and Health Insurance

 

1,206

AXA Interlife S.p.A.

Subsidiary

Milan

Italy

Life and Health Insurance

 

2

Axa Ireland Limited

Subsidiary

Dublin

Ireland

Life and Health Insurance

568.8

984

Axa Insurance Limited

Subsidiary

Dublin

Ireland

Insurance Agents

667.5

964

Axa Financial Limited

Subsidiary

Dublin

Ireland

Insurance Agents

 

6

AXA Assistance France SA

Subsidiary

Châtillon

France

Insurance Agents

266.1

944

AXA Assistance SA

Subsidiary

Châtillon

France

Insurance Agents

266.1

749

Pluridis

Subsidiary

Paris

France

Miscellaneous Professional Services

0.0

5

AXA Assistance Maroc SA

Subsidiary

Casablanca

Morocco

Insurance Agents

 

 

Inter Partner Assistance SA/NV

Subsidiary

Bruxelles

Belgium

Insurance Agents

 

240

Axa Assistance México, S.A. De C.V.

Subsidiary

Ciudad De Mexico, Distrito Federal

Mexico

Legal Services

133.5

475

Inter Partner Assistenza Servizi Spa

Subsidiary

Rome

Italy

Insurance Agents

16.3

186

Inter Partner Assistance Service GmbH

Subsidiary

Frankfurt (Oder), Brandenburg

Germany

Insurance Agents

7.1

137

AXA Assistance Deutschland GmbH

Subsidiary

MUnchen, Bayern

Germany

Insurance Agents

32.2

120

Axa Assistance - Serviços Portugal, S.A.

Subsidiary

Lisboa, Lisboa

Portugal

Miscellaneous Professional Services

2.7

96

Inter Partner Assistance S.A.

Subsidiary

Geneva

Switzerland

Administration of Public Programs

 

35

Inter Partner Assistance Algerie Spa

Subsidiary

Algiers

Algeria

Miscellaneous Professional Services

 

33

Inter Partner Assistance Sa

Subsidiary

Roma, Roma

Italy

Life and Health Insurance

 

31

Inter Partner Assistance Hong-Kong Ltd

Subsidiary

Kowloon

Hong Kong

Miscellaneous Professional Services

 

30

Call Us Assistance International GmbH

Subsidiary

Vienna

Austria

Miscellaneous Professional Services

9.0

25

Inter Partner Assistance Turkey

Subsidiary

Istanbul, Uskudar

Turkey

Miscellaneous Professional Services

 

19

Inter Partner Assistance Ltd

Subsidiary

Taipei

Taiwan

Administration of Public Programs

 

 

Inter Partner Assistance Greece

Subsidiary

Athens

Greece

Administration of Public Programs

 

 

Inter Partner Assistance Polska S.A.

Subsidiary

Warsaw

Poland

Miscellaneous Professional Services

 

 

Inter Partner Assistance Co., Ltd.

Subsidiary

Bangkok

Thailand

Administration of Public Programs

 

 

Inter Partner Assistance Services BV

Subsidiary

Amsterdam

Netherlands

Miscellaneous Professional Services

 

 

Inter Partner Asistencia Servicios Espana SA

Subsidiary

Madrid

Spain

Miscellaneous Professional Services

 

 

AXA Assistance USA, Inc.

Unit

Chicago, IL

United States

Miscellaneous Personal Services

0.1

150

AXA Assistance Panama SA.

Subsidiary

Panama

Panama

Insurance Agents

 

60

AXA Assistance India Private Limited

Subsidiary

New Delhi

India

Insurance Agents

 

35

AXA Assistance Chile S.A

Subsidiary

Santiago

Chile

Insurance Agents

 

30

AXA Assistance Japan Co., Ltd.

Subsidiary

Tokyo

Japan

Insurance Agents

 

15

AXA Assistance Canada Inc.

Subsidiary

Montreal, QC

Canada

Administration of Public Programs

1.2

4

AXA ASSISTANCE (BEIJING) Co., LTD.

Subsidiary

Beijing

China

Administration of Public Programs

 

 

AXA Assistance

Subsidiary

Prague

Czech Republic

Insurance Agents

 

 

AXA Assistance Ocean Indien Ltd

Subsidiary

Port Louis

Mauritius

Insurance Agents

 

 

AXA Assistance Mexico SA de CV

Subsidiary

Mexico

Mexico

Insurance Agents

 

 

Axa Wealth Ltd.

Subsidiary

Basingstoke

United Kingdom

Life and Health Insurance

179.6

850

GIE AXA

Subsidiary

Paris

France

Insurance Agents

 

749

Gie Axa Technology Services France

Subsidiary

Paris

France

Miscellaneous Professional Services

 

749

Axa Asia

Subsidiary

Quarry Bay, Hong Kong

Hong Kong

Administrative Services

0.0

700

AXA Oyak Holding Co.

Subsidiary

Istanbul

Turkey

Property and Causality Insurance

 

620

Axa Life Insurance Company Limited

Subsidiary

Wan Chai, Hong Kong

Hong Kong

Life and Health Insurance

0.0

600

AXA Credit

Subsidiary

Fontenay-sous-Bois, Cedex

France

Property and Causality Insurance

 

600

AXA Portugal, Companhia de Seguros, S.A.

Subsidiary

Porto

Portugal

Property and Causality Insurance

 

597

AXA Insurance (Saudi Arabia) B.S.C.

Subsidiary

Riyadh

Saudi Arabia

Property and Causality Insurance

 

550

Bluefin Advisory Services Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

500

Thinc Group Holdings Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Thinc Assured Network Ltd.

Subsidiary

London

United Kingdom

Pensions and Funds

0.0

 

Thinc Network Services Ltd.

Subsidiary

London

United Kingdom

Pensions and Funds

0.0

 

Bluefin Wealth Management Holdings Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Bluefin Management Services Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

26.5

160

Bluefin Personal Consulting Ltd.

Subsidiary

London

United Kingdom

Banking

10.8

 

Thinc Group Ltd.

Subsidiary

London

United Kingdom

Banking

5.5

 

AXA China Region Ltd.

Subsidiary

Hong Kong

Hong Kong

Property and Causality Insurance

 

500

AXA Wealth Management (HK) Limited

Subsidiary

Hong Kong

Hong Kong

Investment Services

 

 

AXA Customer Services Ltd

Subsidiary

Port Louis

Mauritius

Miscellaneous Professional Services

 

500

Axa Assistance Argentina S.A.

Subsidiary

Ciudad De Buenos Aires, Ciudad De Buenos Aires

Argentina

Life and Health Insurance

7.0

400

Axa Assistance Ltd.

Subsidiary

Redhill

United Kingdom

Nonclassifiable Establishments

25.0

375

Gie Axa Group Solution

Subsidiary

Puteaux

France

Research and Development Services

 

374

AXA Fine Art Singapore

Subsidiary

Singapore

Singapore

Insurance Agents

 

350

Go Voyages SASU

Subsidiary

Paris

France

Travel and Reservation Services

218.1

317

Alliance Capital Ltd

Subsidiary

London

United Kingdom

Pensions and Funds

 

305

AXA Portugal - Companhia de Seguros S.A.

Subsidiary

Lisbon

Portugal

Property and Causality Insurance

 

300

Axa Technology Services Belgium

Subsidiary

Bruxelles

Belgium

Computer System Design Services

133.5

286

AXA Assurances

Subsidiary

Paris, Cedex 09

France

Property and Causality Insurance

 

280

Axa Assistance (U.K.) Ltd.

Subsidiary

Redhill

United Kingdom

Investment Services

15.8

279

AXA Insurance pcl

Subsidiary

Bangkok

Thailand

Property and Causality Insurance

 

260

Intact Insurance

Subsidiary

North York, ON

Canada

Property and Causality Insurance

145.8

250

Axa Insurance Singapore Pte Ltd

Subsidiary

Singapore

Singapore

Life and Health Insurance

233.5

240

AXA MPS Assicurazioni Vita SpA

Joint Venture

Roma

Italy

Life and Health Insurance

 

231

Axa Mps Financial Limited

Subsidiary

Dublin

Ireland

Life and Health Insurance

298.6

32

Axa Real Estate Investment Managers France En Abrege Axa Reim France

Subsidiary

Courbevoie

France

Property Managers

73.6

224

AXA Liabilities Managers Inc.

Subsidiary

New York, NY

United States

Insurance Agents

25.2

200

Axa Insurance

Subsidiary

Morecambe

United Kingdom

Life and Health Insurance

 

200

AXA Assurances Luxembourg S.A.

Subsidiary

Luxembourg

Luxembourg

Life and Health Insurance

 

200

AXA Assurances Vie Luxembourg

Subsidiary

Luxembourg

Luxembourg

Property and Causality Insurance

 

180

Quixa SpA

Subsidiary

Milano, Milano

Italy

Life and Health Insurance

 

181

Axa Insurance Ltd.

Subsidiary

Belfast

United Kingdom

Insurance Agents

 

175

AXA Versicherung AG

Subsidiary

Dreieich

Germany

Property and Causality Insurance

 

170

AXA Investment Managers Pvt Equity Europ

Subsidiary

Paris

France

Investment Services

195.6

166

Ouveo Aquitaine

Subsidiary

St Medard De Guizieres

France

Rubber and Plastic Product Manufacturing

25.6

84

Ouveo

Subsidiary

Plelan Le Petit

France

Rubber and Plastic Product Manufacturing

21.8

74

AXA Private Equity Germany GmbH

Subsidiary

Frankfurt Am Main, Hessen

Germany

Investment Services

14.6

18

AXA- ARAG Rechtsschutz AG

Subsidiary

ZUrich

Switzerland

Property and Causality Insurance

71.8

163

Novotema SpA

Subsidiary

Milano, Milano

Italy

Rubber and Plastic Product Manufacturing

35.6

162

Asuransi AXA Indonesia, PT

Subsidiary

Jakarta

Indonesia

Life and Health Insurance

 

158

Inter Partner Assistance s/c Ltda

Subsidiary

Barueri, Sao Paulo

Brazil

Miscellaneous Professional Services

 

150

Insurance Corp. of Newfoundland Limited

Subsidiary

Saint John's, NL

Canada

Insurance Agents

 

150

AXA Insurance

Subsidiary

New York, NY

United States

Life and Health Insurance

 

150

AXA Liabilities Managers SAS

Subsidiary

Paris

France

Investment Services

49.7

149

AXA Cessions

Subsidiary

Paris

France

Insurance Agents

 

149

Mutuelle Saint-Christophe

Subsidiary

Paris, Cedex

France

Property and Causality Insurance

 

149

AXA zivotní pojišt'ovna a.s.

Subsidiary

Praha

Czech Republic

Life and Health Insurance

 

122

Duplomatic Oleodinamica SpA

Subsidiary

Parabiago, Milano

Italy

Machinery and Equipment Manufacturing

38.2

108

AXASOFT, a.s.

Subsidiary

Bratislava

Slovakia

Computer Programming

5.5

104

AXA Biztosító Zrt

Subsidiary

Budapest

Hungary

Life and Health Insurance

 

104

Axa Magyarorszag Befektetesi Alapkezelo Zartkoruen Mukodo Reszvenytarsasag

Subsidiary

Budapest

Hungary

Securities

6.7

23

AXA Investment Managers SA

Subsidiary

Paris la Défense

France

Pensions and Funds

86.7

103

Axa Investment Managers Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

64.3

574

AXA Investment Managers Paris SA

Subsidiary

Paris la Défense

France

Pensions and Funds

860.6

400

Axa Investment Managers UK Ltd.

Subsidiary

London

United Kingdom

Investment Services

358.1

500

Axa Rosenberg Investment Management Ltd.

Subsidiary

London

United Kingdom

Investment Services

43.9

38

Axa Framlington Investment Management Ltd.

Subsidiary

London

United Kingdom

Investment Services

 

 

AXA Real Estate Investment Managers SA

Subsidiary

Paris La Défense

France

Pensions and Funds

 

500

AXA Real Estate Investment Managers France SA

Subsidiary

Paris La Défense

France

Pensions and Funds

74.8

500

Tesco Superstores

Subsidiary

Derby

United Kingdom

Grocery Stores

 

249

Waitrose

Subsidiary

Sevenoaks

United Kingdom

Grocery Stores

 

40

AXA Real Estate Investment Managers Italia S.r.l.

Subsidiary

Milan

Italy

Real Estate Agents and Brokers

4.1

19

AXA Real Estate Investment Managers Japan KK

Subsidiary

Tokyo

Japan

Real Estate Agents and Brokers

 

10

AXA Immobilien GmbH

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Real Estate Agents and Brokers

 

5

Axa Real Estate Investment Managers Sgp

Subsidiary

Courbevoie

France

Insurance Agents

12.9

 

AXA Real Estate Investment Managers - Hungary

Unit

Budapest

Hungary

Real Estate Agents and Brokers

 

 

AXA Real Estate Investment Managers Nederland B.V.

Subsidiary

Amsterdam

Netherlands

Real Estate Agents and Brokers

 

 

AXA Real Estate Investment Managers - Switzerland

Unit

Zurich

Switzerland

Real Estate Agents and Brokers

 

 

AXA Investment Managers Asia (Singapore) Ltd.

Subsidiary

Singapore

Singapore

Investment Services

 

30

AXA Investment Managers Benelux SA/NV

Subsidiary

Brussels

Belgium

Investment Services

1.3

1

AXA Investment Managers Benelux SA/NV - Netherlands

Subsidiary

Amsterdam

Netherlands

Investment Services

 

8

AXA Investment Managers Japan Ltd.

Subsidiary

Tokyo

Japan

Investment Services

 

 

AXA Investment Managers LLC

Subsidiary

Doha

Qatar

Investment Services

 

 

AXA Investment Managers, Inc.

Subsidiary

Greenwich, CT

United States

Investment Services

 

 

AXA Investment Managers Schweiz AG

Subsidiary

Zurich

Switzerland

Investment Services

 

 

AXA Investment Managers Deutschland GmbH

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Investment Services

 

202

Iniziativa Tredici SRL

Subsidiary

Milano, Milano

Italy

Property Managers

11.3

4

AXA Real Invest Europa I Frankreich 1 GmbH

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Investment Services

 

3

Pdm A Parco De Medici A SRL Inbreve Pdm A Parco De Medici A SRL

Subsidiary

Milano, Milano

Italy

Property Managers

9.6

1

La Scaglia SRL

Subsidiary

Milano, Milano

Italy

Property Managers

2.8

1

Axa Investment Managers Deutschland Gmbh

Subsidiary

Milano, Milano

Italy

Property Managers

 

1

FeldmUhleplatz 1 GmbH & Co. KG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Real Estate Agents and Brokers

 

1

AXA Immoselect Hauptverwaltungsgebäude GmbH & Co. Objekt DUsseldorf Uerdinger Straße KG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Property Managers

19.0

 

BHN NeukOlln Arcaden GrundstUcksgesellschaft mbH & Co. KG

Subsidiary

Essen, Nordrhein-Westfalen

Germany

Real Estate Agents and Brokers

10.5

 

Living Galvani GmbH & Co.KG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Real Estate Agents and Brokers

2.5

 

AXA Real Invest Europa I Luxemburg 1 GmbH

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Investment Services

 

 

HPK Hirschgarten 1 GmbH & Co.KG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Investment Services

 

 

MTI Main-Taunus Immobilien GmbH & Co. BUropark Nord KG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Real Estate Agents and Brokers

 

 

AXA Investment Managers Deutschland GmbH - Austria Branch

Subsidiary

Vienna

Austria

Investment Services

 

 

AXA Investment Managers Private Equity SA

Subsidiary

Paris

France

Pensions and Funds

 

50

DIANA S.A.S.

Holding

Vannes

France

Basic Chemical Manufacturing

 

1,500

Pacific Pure-Aid Company

Subsidiary

Silverton, OR

United States

Food Manufacturing

23.1

50

PHOTONIS Technologies S.A.S.

Holding

Merignac

France

Machinery and Equipment Manufacturing

 

1,000

PHOTONIS USA Pennsylvania, Inc.

Subsidiary

Lancaster, PA

United States

Semiconductor and Other Electronic Component Manufacturing

147.0

50

PHOTONIS USA, Inc.

Subsidiary

Sturbridge, MA

United States

Electromedical and Control Instruments Manufacturing

6.5

50

Photonis México, S.. De R.L. De C.V.

Subsidiary

Matamoros, Tamaulipas

Mexico

Semiconductor and Other Electronic Component Manufacturing

 

183

TLD Group SAS

Subsidiary

Rungis

France

Aircraft Engine and Parts Manufacturing

 

900

TLD Europe SAS

Subsidiary

St Lin

France

Machinery and Equipment Manufacturing

133.2

374

Adhetec

Subsidiary

Tarbes

France

Rubber and Plastic Product Manufacturing

 

74

Tld Asia Limited

Subsidiary

Sha Tin, New Territories

Hong Kong

Machinery Wholesale

27.7

 

Riemser Pharma GmbH

Subsidiary

Greifswald

Germany

Pharmaceutical Manufacturing

146.6

616

Flex-Elektrowerkzeuge GmbH

Subsidiary

Steinheim An Der Murr, Baden-WUrttemberg

Germany

Machinery and Equipment Manufacturing

67.5

258

AXA Private Equity US, LLC

Subsidiary

New York, NY

United States

Investment Services

 

20

Camaïeu SA

Subsidiary

Roubaix

France

Clothing and Apparel Stores

1,072.7

13

Camaïeu International SAS

Subsidiary

Roubaix

France

Clothing and Apparel Stores

835.1

3,499

Camaieu Polska Sp Z O O

Subsidiary

Warszawa

Poland

Clothing and Apparel Wholesale

67.9

720

Camaieu Italia SRL

Subsidiary

Milano, Milano

Italy

Clothing and Apparel Stores

17.3

508

AXA Private Equity Eastern Europe GmbH

Subsidiary

Vienna

Austria

Investment Services

 

 

AXA Private Equity Asia Pte. Ltd.

Subsidiary

Singapore

Singapore

Investment Services

 

 

AXA Private Equity Switzerland AG

Subsidiary

Zurich

Switzerland

Investment Services

 

 

AXA Private Equity Italy S.r.l.

Subsidiary

Milan

Italy

Investment Services

 

 

Axa Private Equity UK Ltd.

Subsidiary

London

United Kingdom

Pensions and Funds

43.4

6

Axa Investment Managers Gs Ltd.

Subsidiary

London

United Kingdom

Investment Services

26.6

 

AXA Investment Managers GS Ltd., Sucursal en Espana

Subsidiary

Madrid

Spain

Investment Services

 

 

Axa Asset Management Ltd.

Subsidiary

London

United Kingdom

Holding Companies

 

 

Newgate One Ltd.

Subsidiary

London

United Kingdom

Nonclassifiable Establishments

 

 

Newgate Two Ltd.

Subsidiary

London

United Kingdom

 

 

 

U A Vie

Subsidiary

Abidjan

Cote d'Ivoire

Property and Causality Insurance

 

103

Axa Mediterranean Holding Sa

Subsidiary

Escorca, Baleares

Spain

Holding Companies

1.4

101

Winterthur Insurance (Asia) Ltd. Shanghai Branch

Unit

Shanghai, Shanghai

China

Property and Causality Insurance

20.0

100

AXA MBASK IC OJSC

Subsidiary

Baku

Azerbaijan

Insurance Agents

 

100

Axa Life Insurance Singapore Private Ltd.

Subsidiary

Singapore

Singapore

Life and Health Insurance

190.8

99

AXA Assurances Senegal

Subsidiary

Dakar

Senegal

Life and Health Insurance

 

93

UGAR

Subsidiary

Conakry

Papua New Guinea

Property and Causality Insurance

 

91

RIEMSER Specialty Production GmbH

Subsidiary

Laupheim, Baden-WUrttemberg

Germany

Metal Products Manufacturing

15.3

87

Axa Equitable Financial Services LLC

Subsidiary

Melville, NY

United States

Investment Services

60.9

85

Bruni Glass SpA

Subsidiary

Trezzano Sul Naviglio, Milano

Italy

Semiconductor and Other Electronic Component Manufacturing

82.2

83

Torino Vetro SpA

Subsidiary

Torino, Torino

Italy

Home Furnishings Wholesale

11.7

14

Bruni Glass Centro Sud SRL

Subsidiary

Acquasparta, Terni

Italy

Miscellaneous Wholesale

15.0

12

AXA Gabon SA

Subsidiary

Libreville

Gabon

Life and Health Insurance

 

82

AXA Assurances Côte d'Ivoire

Subsidiary

Abidjan

Cote d'Ivoire

Property and Causality Insurance

 

78

Axa-Williamsville

Subsidiary

Buffalo, NY

United States

Investment Services

53.8

75

AXA MPS Assicurazioni Danni SpA

Joint Venture

Roma

Italy

Property and Causality Insurance

 

72

Axa Life Invest Services Limited

Subsidiary

Dublin

Ireland

Miscellaneous Professional Services

4.3

70

AXA Corporate Solutions

Subsidiary

New York, NY

United States

Insurance Agents

 

65

Axa Assistance Ireland Limited

Subsidiary

Athlone

Ireland

Insurance Agents

4.2

63

AXA Rosenberg Investment Management LLC

Subsidiary

Orinda, CA

United States

Investment Services

 

58

Axa Assistance Services Europe Limited

Subsidiary

Dublin

Ireland

Insurance Agents

36.0

53

AXA Insurance (Gulf) BSC(c)

Subsidiary

Manama

Bahrain

Property and Causality Insurance

 

50

AXA Investment Managers Asia Limited

Subsidiary

Quarry Bay

Hong Kong

Investment Services

 

50

Axa Assistance Australia Pty Limited

Subsidiary

St Leonards, NSW

Australia

Employment Services

2.7

40

AXA penzijní fond a.s.

Subsidiary

Brno

Czech Republic

Pensions and Funds

 

40

IPA SINGAPORE PTE LTD

Subsidiary

Singapore

Singapore

Insurance Agents

 

40

AXA Pacific Insurance Co

Subsidiary

Edmonton, AB

Canada

Insurance Agents

10.2

35

IPA Singapore Pte Ltd

Subsidiary

Singapore

Singapore

 

 

35

Manageo

Subsidiary

Luynes

France

Computer System Design Services

8.1

34

Adhap Performances

Subsidiary

Clermont Ferrand

France

Physicians and Health Practitioners

7.3

34

Les Cours Legendre

Subsidiary

Paris

France

Investigation and Security Services

5.4

34

Axa Assurcredit

Subsidiary

Nanterre

France

Life and Health Insurance

 

34

Axa Art Versicherung Ag

Subsidiary

Paris

France

Insurance Agents

 

34

AXA Technology Services SAS

Subsidiary

Puteaux

France

Data Processing

151.0

32

Axa Technology Services UK Ltd.

Subsidiary

London

United Kingdom

Computer System Design Services

153.6

370

Axa Hedging Services Limited

Subsidiary

Dublin

Ireland

Insurance Agents

20.4

32

Axa Exclusiv Seguros E Inversiones Agencia De Seguros Sa

Subsidiary

Madrid

Spain

Insurance Agents

11.4

32

Axa Seguros, S.A. De C.V.

Subsidiary

Tuxtla Gutierrez, Chiapas

Mexico

Life and Health Insurance

2.2

32

AXA Asia Regional Centre Pte Ltd

Subsidiary

Singapore

Singapore

Property and Causality Insurance

28.1

30

MATRIX RISK CONSULTANTS, INC.

Subsidiary

Miamisburg, OH

United States

Consulting Services

1.2

30

GESA Assistance Pte Ltd

Subsidiary

Singapore

Singapore

Insurance Services

 

30

Axa Art Insurance Ltd.

Subsidiary

London

United Kingdom

Life and Health Insurance

46.3

29

Axa Art Services Ltd.

Subsidiary

London

United Kingdom

Life and Health Insurance

6.2

29

Axa Real Estate Investment Managers Iberica Sa

Subsidiary

Madrid

Spain

Real Estate Agents and Brokers

5.3

20

AXA

Subsidiary

Plano, TX

United States

Insurance Agents

3.7

20

HDI Seguros S.A.

Subsidiary

Montevideo

Uruguay

Life and Health Insurance

 

20

Axa Life Europe Limited

Subsidiary

Dublin

Ireland

Insurance Agents

673.8

19

Axa Real Estate Investment Managers Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

2.1

18

Axa Real Estate Investment Managers UK Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

30.8

64

Gobafoss General Partner Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

0.0

 

Clements House General Partner Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

0.0

 

Clements House Nominee 1 Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

 

 

Clements House Nominee 2 Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

 

 

Reof Ii (Gp) Ltd.

Subsidiary

London

United Kingdom

 

 

 

Reof Ii (Gp) (Scotland) Ltd.

Subsidiary

Edinburgh

United Kingdom

Miscellaneous Professional Services

 

 

Alternative Property Income Venture (Scotland) Ltd.

Subsidiary

Edinburgh

United Kingdom

Miscellaneous Professional Services

 

 

Axa Im Benelux

Subsidiary

Bruxelles

Belgium

Consulting Services

18.3

17

AXA Lebensversicherung AG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Life and Health Insurance

 

16

KOlner Spezial Beratungs-GmbH fUr betriebliche Altersversorgung

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Pensions and Funds

 

42

GANYMED Erste Beteiligungs-Verwaltungs-Gesellschaft mbH & Co. KG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Insurance Agents

11.0

3

Bruckner GmbH & Co. Projektentwicklungs KG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Real Estate Agents and Brokers

5.7

2

Merkur Gesellschaft fUr Beteiligungswerte mbH

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Holding Companies

 

2

AXA Vie Gabon

Subsidiary

Libreville

Gabon

Property and Causality Insurance

 

16

Ing Seguros, Sa De Cv

Subsidiary

Cuajimalpa, Distrito Federal

Mexico

Life and Health Insurance

 

15

Groupe Outremer Télécom SA

Subsidiary

Paris

France

Wired Telecommunications Carriers

249.1

14

Informatique Telematique Ocean Indien

Subsidiary

St Denis

France

Computer System Design Services

1.8

7

Novacap SAS

Subsidiary

Lyon

France

Basic Chemical Manufacturing

5.8

14

Novacarb SAS

Subsidiary

Laneuville devant Nancy

France

Basic Chemical Manufacturing

157.6

308

Nocacyl (Wuxi) Pharmaceutical Co., Ltd.

Subsidiary

Wuxi, Jiangsu

China

Pharmaceutical Manufacturing

 

200

Novapex SAS

Subsidiary

Lyon

France

Basic Chemical Manufacturing

595.7

158

Novacid SAS

Subsidiary

Lyon

France

Basic Chemical Manufacturing

29.0

16

AXA Investment Managers Italia S.p.A.

Subsidiary

Milan

Italy

Investment Services

 

13

Axa Rosenberg Management Ireland Limited

Subsidiary

Dublin

Ireland

Investment Services

35.7

11

AXA Real Estate Investment Managers Scandinavia AB

Subsidiary

Stockholm, Stockholm

Sweden

Architecture and Engineering

3.4

6

AXA Italia S.p.A.

Subsidiary

Milan

Italy

Insurance Agents

0.0

5

AXA Assurances IARD

Subsidiary

Taipei, ROC

Taiwan

Property and Causality Insurance

 

5

AXA Fine Art Hong Kong

Subsidiary

Quarry Bay

Hong Kong

Insurance Agents

 

4

Axa Investment Managers Ireland Limited

Subsidiary

Dublin

Ireland

Investment Services

14.7

3

AXA Merkens Fonds Gmbh

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Pensions and Funds

2.4

3

Axa Insurance

Subsidiary

Fullerton, CA

United States

Insurance Services

0.6

3

Axa Framlington Group Ltd.

Subsidiary

London

United Kingdom

Holding Companies

20.2

2

AXA Corporate Solutions Australia

Subsidiary

Sydney, NSW

Australia

Insurance Agents

 

2

Axa Life Invest Reinsurance Limited

Subsidiary

Dublin

Ireland

Life and Health Insurance

105.5

1

AXA Assurances Inc

Subsidiary

Quebec, QC

Canada

Insurance Agents

0.3

1

Axa Group Solution

Subsidiary

Paris

France

Banking

241.7

 

AXA zivotni pojistovna, a.s.

Subsidiary

Prague

Czech Republic

Life and Health Insurance

170.3

 

AXA Cooperative Insurance Company

Subsidiary

Riyadh

Saudi Arabia

Property and Causality Insurance

99.5

 

Axa Travel Insurance

Subsidiary

Dublin

Ireland

Insurance Agents

20.5

 

Ahorro Familiar SA

Subsidiary

Madrid

Spain

Commercial Real Estate Leasing

19.3

 

Colisee 21 Matignon

Subsidiary

Courbevoie

France

Property Managers

7.8

 

Axa Cessions Broker

Subsidiary

Paris

France

Life and Health Insurance

3.0

 

Axa Holdings Ireland Limited

Subsidiary

Dublin

Ireland

Banking

0.2

 

DBV Deutsche Beamtenversicherung AG

Subsidiary

Wiesbaden, Hessen

Germany

Insurance Agents

 

 

Hcm Holdings Ltd.

Subsidiary

London

United Kingdom

Holding Companies

 

 

Axa Investment Managers UK Holdings Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Axa Insurance Gulf BSCc

Subsidiary

Muscat

Oman

Property and Causality Insurance

 

 

AXA Versicherung AG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Life and Health Insurance

 

 

Lefac Leasing-Finanz-GmbH

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Commercial and Industrial Rental

 

8

Pluto Beteiligungswerte AG

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Consulting Services

8.4

3

AXA Vermittlungs-Service GmbH

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Accounting and Tax Preparation

2.4

2

AXA Seguros, S.A. de C.V.

Subsidiary

México, D.F.

Mexico

Life and Health Insurance

 

 

Consultoria Y Asesoría En Servicios Corporativos Y De Administración, S.A. De C.V.

Subsidiary

Ciudad De Mexico, Distrito Federal

Mexico

Consulting Services

 

50

Axa Seguros, S.A. De C.V.

Branch

Ciudad De Mexico, Distrito Federal

Mexico

Insurance Agents

 

15

Axa Salud, S.A. De C.V.

Subsidiary

Ciudad De Mexico, Distrito Federal

Mexico

Ambulatory Services

11.0

 

AXA Affin General Insurance Berhad

Subsidiary

Kuala Lumpur

Malaysia

Property and Causality Insurance

 

 

AXA Seguros Generales, S.A. de Seguros y Reaseguros

Subsidiary

Palma de Mallorca, Balears

Spain

Life and Health Insurance

 

 

Lor Patrimoine SAS

Subsidiary

Paris

France

Pensions and Funds

 

 

ICBC-AXA-Minmetals Assurance Co., Ltd.

Subsidiary

Shanghai

China

Life and Health Insurance

 

 

AXA Multimanager

Subsidiary

London

United Kingdom

Investment Services

 

 

AXA Ukraine

Subsidiary

Kiev

Ukraine

Life and Health Insurance

 

 

AXA Insurance (Gulf) B.S.C.

Subsidiary

Dubai

United Arab Emirates

Property and Causality Insurance

 

 

Axa Millesimes

Subsidiary

Paris

France

Banking

 

 

Quinta Do Noval - Vinhos, S.A.

Subsidiary

Vila Nova De Gaia, Vila Nova De Gaia

Portugal

Beverage Manufacturing

5.1

73

Compagnie Medocaine Des Grands Crus

Subsidiary

Blanquefort

France

Alcoholic Beverage Wholesale

75.7

34

Chateaux & Associes

Subsidiary

Pauillac

France

Computer System Design Services

3.0

34

Societe Dexploitation Pichon Longueville

Subsidiary

Pauillac

France

Crop and Animal Production

28.4

34

Societe Dexploitation Suduiraut

Subsidiary

Preignac

France

Crop and Animal Production

5.4

34

Societe De Pichon Longueville

Subsidiary

Pauillac

France

Property Managers

1.6

 

Chateau Suduiraut

Subsidiary

Preignac

France

Property Managers

0.2

 

Axa Assurances Cameroun

Subsidiary

Douala

Cameroon

Life and Health Insurance

 

 

AXA Corporate Solutions

Subsidiary

Singapore

Singapore

Property and Causality Insurance

 

 

AXA Rosenberg Investment Management Asia Pacific Ltd.

Subsidiary

Quarry Bay

Hong Kong

Investment Services

 

 

Axa Middle East SAL

Subsidiary

Beirut

Lebanon

Life and Health Insurance

 

 

Axa Assistance Company Limited

Subsidiary

Ratchathewi, Bangkok

Thailand

Employment Services

 

 

AXA Financial, Inc.

Subsidiary

New York, NY

United States

Investment Services

 

 

Plan Connect LLC

Subsidiary

Syracuse, NY

United States

Investment Services

 

3

AXA Insurance Gulf

Subsidiary

Riyadh

Saudi Arabia

Insurance Agents

 

 

Axa Group Services Limited

Subsidiary

Dublin

Ireland

Miscellaneous Professional Services

 

 

Capita Employee Benefits Holdings Ltd.

Subsidiary

London

United Kingdom

Holding Companies

 

 

Capita Employee Benefits (Consulting) Ltd.

Subsidiary

London

United Kingdom

Banking

83.2

538

E. B. Consultants Ltd.

Subsidiary

London

United Kingdom

Pensions and Funds

 

75

S. G. Ingram : Actuary Ltd.

Subsidiary

London

United Kingdom

Pensions and Funds

 

25

Pifc Consulting Ltd.

Subsidiary

Glasgow

United Kingdom

Pensions and Funds

 

 

Sbj Benefit Consultants Ltd.

Subsidiary

London

United Kingdom

Insurance Agents

 

 

Capita Employee Benefits Services Ltd.

Subsidiary

London

United Kingdom

Commercial Real Estate Leasing

 

 

Sbj Professional Trustees Ltd.

Subsidiary

London

United Kingdom

Insurance Agents

 

 

Orbit Benefits Ltd.

Subsidiary

London

United Kingdom

Pensions and Funds

 

 

AXA Affin Life Insurance Berhad

Subsidiary

Kuala Lumpur

Malaysia

Life and Health Insurance

 

 

Vinci B.V.

Subsidiary

Breda, Noord-Brabant

Netherlands

Banking

 

 

KOlnische Verwaltungs-Aktiengesellschaft fUr Versicherungswerte

Subsidiary

KOln, Nordrhein-Westfalen

Germany

Investment Services

 

59

Axa China

Subsidiary

Paris

France

Banking

 

 

Axa Equity & Law Life Assurance Society Plc

Subsidiary

Bangor

United Kingdom

 

 

 

Societe Beaujon

Subsidiary

Paris

France

Miscellaneous Professional Services

 

 

AXA MBASK Insurance Company

Subsidiary

Baku

Azerbaijan

Life and Health Insurance

 

 

UAT

Subsidiary

Lome

Togo

Property and Causality Insurance

 

 

AXA Corporate Solutions Life Reinsurance Company

Subsidiary

New York, NY

United States

Life and Health Insurance

 

 

AXA HAYAT ve EMEKLILIK AS

Subsidiary

Istanbul

Turkey

Life and Health Insurance

 

 

AXA Colonia Insurance Limited

Subsidiary

Dublin

Ireland

Property and Causality Insurance

 

 

AXA Mediterranean Holding, S.A.

Subsidiary

Madrid

Spain

Property and Causality Insurance

 

 

AXA Aurora Iberica S.A. de Seguros y Reaseguros

Subsidiary

Madrid

Spain

Insurance Agents

 

2,500

Hilo Direct Seguros y Reaseguros S.A.

Subsidiary

Madrid

Spain

Property and Causality Insurance

 

320

Seguro Directo Gere - Companhia de Seguros, S.A.

Subsidiary

Lisbon

Portugal

Property and Causality Insurance

 

20

AXA Insurance A.E.

Subsidiary

Athens

Greece

Insurance Agents

 

 

AXA Seguros Generales SA de Seguros y Reaseguros

Subsidiary

Bilbao

Spain

Insurance Agents

 

 

AXA Aurora Vida SA de Seguros y Reaseguros

Subsidiary

Bilbao

Spain

Insurance Agents

 

 

Avanssur S.A.

Subsidiary

Warsaw

Poland

Insurance Agents

 

 

AXA Zycie Towarzystwo Ubezpieczen S.A.

Subsidiary

Warsaw

Poland

Life and Health Insurance

 

 

SC AXA Life Insurance S.A.

Subsidiary

Bucharest

Romania

Insurance Agents

 

 

AXA Technology Services South East Asia

Subsidiary

Quarry Bay

Hong Kong

Computer System Design Services

 

 

AXA Powszechne Towarzystwo Emerytalne S.A.

Subsidiary

Warsaw

Poland

Pensions and Funds

 

 

AXA Technologies Shared Services India Pvt. Ltd

Subsidiary

Bengaluru, Karnataka

India

Computer System Design Services

 

 

AXA General Insurance Co., Ltd.

Subsidiary

Tokyo

Japan

Insurance Agents

 

 

AXA Polska S.A.

Subsidiary

Warsaw

Poland

Investment Services

 

 

AXA Towarzystwo Ubezpieczen S.A.

Subsidiary

Warsaw

Poland

Life and Health Insurance

 

 

AXA SR

Subsidiary

Bratislava

Slovakia

Insurance Agents

 

 

AXA Conseil

Subsidiary

Paris

France

Property and Causality Insurance

 

 

AXA zivotni pojistovna a.s.

Subsidiary

Bratislava

Slovakia

Insurance Agents

 

 

AXA Ceska republika s.r.o

Subsidiary

Prague

Czech Republic

Insurance Agents

 

 

AXA investicni spolecnost a.s.

Subsidiary

Prague

Czech Republic

Investment Services

 

 

AXA ART Versicherung AG

Subsidiary

Zurich

Switzerland

Insurance Agents

 

 

AXA Art Insurance Corporation

Subsidiary

New York, NY

United States

Insurance Agents

 

20

AXA Art Canada

Subsidiary

Toronto, ON

Canada

Insurance Agents

 

5

AXA ART FRANCE

Subsidiary

Neuilly-sur-Seine

France

Insurance Agents

 

 

AXA ART LUXEMBOURG

Subsidiary

Luxembourg

Luxembourg

Insurance Agents

 

 

AXA ART

Subsidiary

Milan

Italy

Insurance Agents

 

 

AXA ART - NEDERLAND

Subsidiary

Breda

Netherlands

Insurance Agents

 

 

AXA ART

Subsidiary

Warsaw

Poland

Insurance Agents

 

 

AXA Osiguranje

Subsidiary

Belgrade

Serbia

Insurance Agents

 

 

AXA China Region Insurance Company (Bermuda) Limited

Subsidiary

Macau

Macau

Insurance Agents

 

 

AXA China Region Insurance Company Limited

Subsidiary

Wanchai

Hong Kong

Investment Services

 

 

AXA Corporate Solutions Assurance S.A

Subsidiary

Chatillon

France

Insurance Agents

 

 

AXA Corporate Solutions Hong Kong

Subsidiary

Quarry Bay

Hong Kong

Property and Causality Insurance

 

 

AXA Turkey Holding A.S.

Subsidiary

Istanbul

Turkey

Investment Services

 

 

AXA Sigorta AS

Subsidiary

Istanbul

Turkey

Life and Health Insurance

 

578

AXA-ARAG Protection juridique SA

Subsidiary

Zurich

Switzerland

Investment Services

 

 

AXA Bank Europe Czech Republic

Subsidiary

Brno

Czech Republic

Banking

 

 

AXA Luxembourg SA

Subsidiary

Luxembourg

Luxembourg

Life and Health Insurance

 

 

AXA Technology Services Portugal

Subsidiary

Lisbon

Portugal

Computer System Design Services

 

 

AXA Philippines

Subsidiary

Makati

Philippines

Insurance Agents

 

 

AXA Wealth Management Singapore Pte Ltd

Subsidiary

Singapore

Singapore

Life and Health Insurance

 

 

AXA Technology Services Japan K.K

Subsidiary

Tokyo

Japan

Computer System Design Services

 

 

AXA Assurances - Ivory Coast

Subsidiary

Abidjan

Cote d'Ivoire

Insurance Agents

 

 

AXA Liabilities Managers UK Limited

Subsidiary

Ipswich

United Kingdom

Life and Health Insurance

 

 

AXA Corporate Solutions Switzerland

Subsidiary

Winterthur

Switzerland

Insurance Agents

 

 

AXA Direct

Subsidiary

Warsaw

Poland

Insurance Agents

 

 

AXA Protection juridique

Subsidiary

Marly-le-Roi

France

Insurance Agents

 

 

Axa China Region Insurance Company (Bermuda) Limited

Subsidiary

Hamilton

Bermuda

Holding Companies

 

 

Axa China Region Insurance Company (Bermuda) Limited

Branch

Wan Chai, Hong Kong

Hong Kong

Life and Health Insurance

792.8

550

Axa Financial Planning (Hong Kong) Limited

Subsidiary

Central District, Hong Kong

Hong Kong

Investment Services

 

34

Axa China Region Insurance Company Limited

Subsidiary

Wan Chai, Hong Kong

Hong Kong

Property and Causality Insurance

485.7

 

AXA SPDB Investment Managers Co., Ltd

Subsidiary

Shanghai

China

Investment Services

 

 

ICBC - AXA Life Assurance

Subsidiary

Shanghai, Pudong

China

Life and Health Insurance

 

 

AXA Fine Art China

Subsidiary

Shanghai

China

Insurance Agents

 

 

AXA Bank Europe Slovakia

Subsidiary

Bratislava

Slovakia

Banking

 

 

AXA Direct Korea

Subsidiary

Seoul

Korea, Republic of

Publishing

 

 

AXA Liabilities Managers Belgium

Subsidiary

Brussels

Belgium

Life and Health Insurance

 

 

AXA Holding Maroc S.A.

Subsidiary

Casablanca

Morocco

Investment Services

 

 

AXA America Holdings, Inc

Subsidiary

Jersey City, NJ

United States

Investment Services

 

 

AXA Technology Services America Inc

Subsidiary

Jersey City, NJ

United States

Computer System Design Services

 

 

AXA Corporate Solutions Dubai

Subsidiary

Dubai

United Arab Emirates

Property and Causality Insurance

 

 

AXA Technology Services Australia

Subsidiary

Melbourne, VIC

Australia

Computer System Design Services

 

 

AXA Multi Manager

Subsidiary

New York, NY

United States

Investment Services

 

 

AXA Czech Republic Insurance

Subsidiary

Prague

Czech Republic

Insurance Agents

 

 

AXA Life Ltd.

Subsidiary

Winterthur

Switzerland

Life and Health Insurance

 

 

AXA pojisovna a.s.

Subsidiary

Prague

Czech Republic

Insurance Agents

 

 

AXA Poland Pension Funds

Subsidiary

Warsaw

Poland

Pensions and Funds

 

 

AXA Czech Republic Pension Funds

Subsidiary

Brno

Czech Republic

Pensions and Funds

 

 

AXA Insurance

Subsidiary

Lausanne

Switzerland

Insurance Agents

 

 

AXA d.d.s., a.s.

Subsidiary

Bratislava

Slovakia

Non-Metallic Mineral Product Manufacturing

 

 

AXA investicni spolecnost a.s.

Subsidiary

Bratislava

Slovakia

Investment Services

 

 

AXA Pension Solutions AG

Subsidiary

Winterthur

Switzerland

Pensions and Funds

 

 

AXA Global Structured Products Inc.

Subsidiary

New York, NY

United States

Life and Health Insurance

 

 

Winterthur" Schweizerische Versicherungs-Gesellschaft

Subsidiary

 

 

 

 

 

Axa Pensiones Sa. Entidad Gestora De Fondos De Pensiones

Subsidiary

Cornella De Llobregat, Barcelona

Spain

Pensions and Funds

12.7

13

Cfp Management

Subsidiary

 

 

 

 

 

Societe Financiere De Developpement-Sofinad

Subsidiary

Courbevoie

France

Banking

 

 

Axa Technology Services Mediterranean Region Aeie

Subsidiary

 

 

 

 

 

Axa Technology Services Mediterranean Region A.E.I.E

Subsidiary

Milano, Milano

Italy

Software

105.7

49

 

 

Competitors Report

 

Company Name

Location

Employees

Ownership

AXA Financial, Inc.

New York, New York, United States

 

Private

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Peter S. Kraus

 

Chairman of the Board, Chief Executive Officer of AllianceBernstein Corp.

Chairman

 

Biography:

Mr. Peter S. Kraus is Chairman of the Board, Chief Executive Officer of AllianceBernstein Corp., the General Partner of AllianceBernstein LP. Mr. Kraus has experience in financial services, including investment banking, asset management and private management. He served as an executive vice president, the head of global strategy and a member of the Management Committee of Merrill Lynch & Company Inc. (“Merrill Lynch”) from September 2008 through December 2008. Mr. Kraus spent 22 years with Goldman Sachs Group Inc. (“Goldman”), where he most recently served as co-head of the Investment Management Division and a member of the Management Committee, as well as head of firm-wide strategy and chairman of the Strategy Committee. Mr. Kraus also served as co-head of the Financial Institutions Group. He was named a partner at Goldman in 1994 and managing director in 1996. In April 2010, Mr. Kraus was appointed a member of the Management Committee of AXA, which was formed by Mr. de Castries in April 2010 to assist him with the operational management of AXA. He was named a Director of AXA Financial, AXA Equitable, MONY Life Insurance Company (a wholly-owned subsidiary of AXA Financial, “MONY”) and MONY Life Insurance Company of America (a wholly-owned subsidiary of MONY, “MLOA”) in February 2009. He is not compensated for serving in these roles for AXA and its subsidiaries. Mr. Kraus is also Chairman of the Investment Committee of Trinity College, Chair of the Board of Overseers of CalArts, Co-Chair of the Friends of Carnegie International, a member of the board of directors of Lincoln Center for the Performing Arts and the chairman of Lincoln Center’s Art Committee, a member of the board of Keewaydin Foundation, and a member of the National Board of Young Audiences, Inc.

 

Age: 60

 

Education:

New York University, MBA 
Trinity College, BA 

 

Christopher M Condron

 

Director of AllianceBernstein Corp.

Director/Board Member

 

 

Biography:

Mr. Christopher M. Condron is Director of AllianceBernstein Corp., the General Partner of Director of AllianceBernstein LP. Formerly Director, President and Chief Executive Officer of AXA Financial since May 2001, he retired from his AXA positions effective January 1, 2011. Prior to retiring, he was also Chairman of the Board, Chief Executive Officer and President of AXA Equitable and a member of the Management Committee of AXA. In addition, Mr. Condron was Chairman of the Board, President and Chief Executive Officer of MONY and MLOA, which AXA Financial acquired in July 2004. During 2010, he assumed the additional responsibility of overseeing AXA’s Global Life & Savings and Health businesses. Prior to joining AXA Financial, Mr. Condron served as both President and Chief Operating Officer of Mellon Financial Corporation (“Mellon”), from 1999, and as Chairman and Chief Executive Officer of The Dreyfus Corporation, a subsidiary of Mellon, from 1995. Mr. Condron has been a member of the Board of Directors of Keefe Bruyette & Woods, Inc. (NYSE: KBW), a full-service investment bank and broker-dealer, since January 2007. He also serves as Chairman of Keefe Bruyette & Woods’s compensation committee and as a member of its audit committee and its corporate governance and nominating committee.

 

Age: 65

 

Education:

University of Scranton, B (Business Management)

 

Henri de Castries

 

Director of AllianceBernstein Corp.

Director/Board Member

 

 

Biography:

Mr. Henri de Castries is Director of AllianceBernstein Corp., the General Partner of AllianceBernstein LP. In April 2010, in connection with a change in AXA’s governance structure from dual boards (the Supervisory Board and the Management Board) to a single Board of Directors, Mr. de Castries was appointed Chairman and Chief Executive Officer of AXA. From May 2000 through the change in AXA’s governance, Mr. de Castries was Chairman of the AXA Management Board. Prior thereto, he served AXA in various capacities, including Vice Chairman of the AXA Management Board; Senior Executive Vice President-Financial Services and Life Insurance Activities in the United States, Germany, the United Kingdom and Benelux from 1996 to 2000; Senior Executive Vice President-Financial Services and Life Insurance Activities from 1993 to 1996; Corporate Secretary from 1991 to 1993; and Central Director of Finances from 1989 to 1991. Before joining AXA, Mr. de Castries was part of the French Finance Ministry Inspection Office. He is a director or officer of AXA Financial, AXA Equitable and various other privately-held subsidiaries and affiliates of the AXA Group. Mr. de Castries was elected Vice Chairman of AXA Financial in February 1996 and was elected Chairman of AXA Financial in April 1998. In addition, Mr. de Castries joined the board of directors and audit committee of Nestle, Inc. (VTX: NESN) in April 2012.

 

Age: 59

 

Education:

Ecole Nationale d'Administration (Law)
Ecole des Hautes Etudes Commerciales (Business)

 

Denis Duverne

 

Director of AllianceBernstein Corp.

Director/Board Member

 

 

Biography:

Mr. Denis Duverne is Director of AllianceBernstein Corp., the General Partner of AllianceBernstein LP. In April 2010, he was appointed the Deputy Chief Executive Officer of AXA and a member of the Board of Directors of AXA. In January 2010, he was selected to oversee AXA Group strategy, finance and operations with AXA’s Chief Operating Officer, Chief Financial Officer and Chief Risk Officer reporting to him. Mr. Duverne was a member of the AXA Management Board from February 2003 through the change in AXA’s governance in April 2010. He was Chief Financial Officer of AXA from May 2003 through December 2009. From January 2000 to May 2003, Mr. Duverne served as Group Executive Vice President-Finance, Control and Strategy. Mr. Duverne joined AXA as Senior Vice President in 1995. He is a Director of AXA Financial, AXA Equitable and various other privately-held subsidiaries and affiliates of the AXA Group.

 

Age: 59

 

Education:

Ecole Nationale d'Administration
Hautes Etudes Commerciales

 

Steven G. Elliott

 

Independent Director of AllianceBernstein Corp.

Director/Board Member

 

 

Biography:

Mr. Steven G. Elliott is Independent Director of AllianceBernstein Corp., the General Partner of AllianceBernstein LP. Until his retirement in December 2010, Mr. Elliott had served as Senior Vice Chairman of The Bank of New York Mellon (“BNY Mellon”) since 1998. In this role, he helped oversee numerous company-wide growth initiatives and co-headed the integration of The Bank of New York and Mellon from 2007 to 2009. Mr. Elliott was Chief Financial Officer of Mellon from 1990 to 2002 and Head of Finance from 1987 to 1990, while also some of Mellon’s diverse lines of business, including asset servicing, securities lending, global cash management and institutional banking. Before joining BNY Mellon, he held senior positions at First Commerce Corporation (1986-87), Crocker National Bank (1984-86), Continental Illinois National Bank (1977-84) and United California Bank (1974-77). Since January 2011, he has been a member of the boards of directors of Huntington Bancshares Inc. (NASDAQ: HBAN) and PPL Corporation (NYSE: PPL). Since April 2011, he has served as Chairman of Huntington Bancshares’s risk oversight committee and, since January 2012, he has served as Chairman of PPL Corporation’s audit committee. Mr. Elliott served as a director of Mellon (NYSE: MEL) from 2001 to the July 2007 merger with The Bank of New York and then as a director of BNY Mellon (NYSE: BK) through July 2008.

 

Age: 66

 

Education:

Northwestern University, M (Business Administration)
University of Houston, B (Finance)

 

Marilyn G Fedak

 

Board Member

Director/Board Member

 

 

Education:

Harvard University, MBA 
Smith College, BA 

 

Deborah S Hechinger

 

Independent Director of AllianceBernstein Corp.

Director/Board Member

 

 

Biography:

Ms. Deborah S. Hechinger is Independent Director of AllianceBernstein Corp., the General Partner of AllianceBernstein LP. Currently an independent consultant on non-profit governance, she was President and Chief Executive Officer of BoardSource, governance resource for non-profit organizations, from 2003 to 2007. From 2004 to 2007, Ms. Hechinger also served as co-convener of the Governance and Fiduciary Responsibilities work group, one of the five groups established by the Panel on the Nonprofit Sector to make recommendations to Congress on ways to improve the governance and accountability of non-profit organizations. She also served on the Advisory Board for the Center for Effective Philanthropy and was a Member of the Ethics and Accountability Committee at Independent Sector. Prior to joining BoardSource, Ms. Hechinger was the Executive Vice President of the World Wildlife Fund, global conservation organization, where she oversaw all fundraising, communication and operations activities. She has also served as a Deputy Comptroller and as Director of the Securities and Corporate Practices Division at the Office of the Comptroller of the Currency and has held senior executive positions in the Division of Enforcement at the SEC. A graduate of Georgetown Law School, Ms. Hechinger has been a member in standing of the District of Columbia Bar Association since 1975.

 

Age: 62

 

Education:

Georgetown University

 

Weston M. Hicks

 

Independent Director of AllianceBernstein Corp.

Director/Board Member

 

 

Biography:

Mr. Weston M. Hicks is Independent Director of AllianceBernstein Corp., the General Partner of AllianceBernstein LP. He has been a Director and the President and chief executive officer of Alleghany Corporation (NYSE: Y, “Alleghany”), an insurance and diversified financial services holding company, since December 2004 and was Executive Vice President of Alleghany from October 2002 until December 2004. From March 2001 through October 2002, Mr. Hicks was Executive Vice President and Chief Financial Officer of The Chubb Corporation.

 

Age: 56

 

Education:

Lehigh University, BS (Business Economics)

 

Nancy P Jacklin

 

Board Member

Director/Board Member

 

 

Biography:

Professorial Lecturer at the Johns Hopkins School of Advanced International Studies since 2008. Formerly U.S. Executive Director of the International Monetary Fund (December 2002-May 2006); Partner Clifford Chance (1992-2002); Sector Counsel International Banking and Finance and Associate General Counsel Citicorp (1985-1992); Assistant General Counsel (International) Federal Reserve Board of Governors (1982-1985); and Attorney Advisor U.S. Department of the Treasury (1973-1982). Member of the Bar of the District of Columbia and of New York; and member of the Council on Foreign Relations. She has served as a director or trustee of the AllianceBernstein Funds since 2006.

 

Andrew J. McMahon

 

Director of AllianceBernstein Corp.

Director/Board Member

 

 

Biography:

Mr. Andrew J. McMahon is Director of AllianceBernstein Corp., the General Partner of AllianceBernstein LP. Mr. McMahon is President of AXA Equitable and a member of the company's Executive Committee and Board of Directors. In this role, he has responsibility for the company's Financial Protection & Management business, including life insurance manufacturing, marketing, distribution and in-force management. He joined AXA Equitable in March 2005 as Senior Vice President to launch the company's Strategic Initiatives Group. Later that year, Mr. McMahon was promoted to Executive Vice President and was named Chief Operating Officer of AXA Advisors, the company’s broker-dealer and retail distribution channel comprised of approximately 6,000 career contracted financial professionals. He served as Chairman of AXA Advisors from July 2007 to May 2012. Before joining AXA Equitable, Mr. McMahon was a principal at McKinsey & Co. (“McKinsey”) and served as a life insurance practice leader in North America. Prior to McKinsey, he spent several years in management positions with various business divisions of General Electric (“GE”). Mr. McMahon has been a Director of AXA Financial, AXA Equitable, MONY and MLOA since May 2011. He is also a member of the Board of Directors of the American Council of Life Insurers.

 

Age: 45

 

Education:

Columbia University, MBA 
Fairfield University, BS 

 

Mark Pearson

 

Director of AllianceBernstein Corp.

Director/Board Member

 

 

Biography:

Mr. Mark Pearson is Director of AllianceBernstein Corp., the General Partner of AllianceBernstein LP. Also during February 2011, he succeeded Mr. Condron as Director, President and Chief Executive Officer of AXA Financial, and as Chairman and Chief Executive Officer of AXA Equitable. Having joined AXA in 1995 when AXA acquired National Mutual Funds Management Limited (presently AXA Asia Pacific Holdings Limited), Mr. Pearson became a member of the Executive Committee of AXA in 2008 and the Management Committee of AXA in 2011. He was appointed Regional Chief Executive of AXA Asia Life in 2001 and, in 2008, was named President and Chief Executive Officer of AXA Japan Holding Co., Ltd. and AXA Life Insurance Co., Ltd. Prior to joining AXA, Mr. Pearson spent approximately 20 years in the insurance sector, holding several senior management positions at National Mutual and Friends Provident.

 

Age: 55

 

Scott A. Schoen

 

Director of AllianceBernstein Corp.

Director/Board Member

 

 

Biography:

Mr. Scott A. Schoen has been appointed as Director of AllianceBernstein Corp., the general partner of AllianceBernstein L.P. effective July 30, 2013.

 

Lorie A Slutsky

 

Independent Director of AllianceBernstein Corp.

Director/Board Member

 

 

Biography:

Ms. Lorie A. Slutsky is Independent Director of AllianceBernstein Corp., the General Partner of AllianceBernstein LP. Since January 1990, she has been President and Chief Executive Officer of The New York Community Trust, a community foundation that manages a $2 billion endowment and annually grants more than $150 million to non-profit organizations. Ms. Slutsky is Secretary and a board member of the Independent Sector and co-chaired its National Panel on the Non-Profit Sector, which focused on reducing abuse and improving governance practices at non-profit organizations. She served on the Board of Directors of BoardSource from 1999 to 2008 and served as its Chair from 2005 to 2007. Ms. Slutsky also served as Trustee and Chair of the Budget Committee of Colgate University from 1989 to 1997 and as a member of the Council on Foundations from 1989 to 1995, for which she also served as Chair from 1993 to 1995. She has been a Director of AXA Financial, AXA Equitable, MONY and MLOA since September 2006. In addition, Ms. Slutsky was a member of AXA Financial’s Audit Committee from 2006 through 2010. She has been a member of AXA Financial’s Organization and Compensation Committee since 2006 and was elected Chair of the Organization and Compensation Committee in February 2012.

 

Age: 60

 

Education:

Colgate University, BA 
The New School, MA 

 

A.W. W. Smith

 

Independent Director of AllianceBernstein Corp.

Director/Board Member

 

 

Biography:

Mr. A.W. Smith, Jr. is Independent Director of AllianceBernstein Corp., the General Partner of AllianceBernstein LP. The former CEO of Watson Wyatt Worldwide (now Towers Watson), he was also President of the Private Sector Council, a non-profit public service organization dedicated to improving the efficiency of the federal government, from September 2000 until May 2005. Mr. Smith has been President of Smith Compensation Consulting, a privately-held company specializing in executive compensation consulting, since June 2005.

 

Age: 69

 

Peter J. Tobin

 

Lead Independent Director of AllianceBernstein Corp.

Director/Board Member

 

 

Biography:

Mr. Peter J. Tobin is Lead Independent Director of AllianceBernstein Corp., the General Partner of AllianceBernstein LP. From September 2003 to June 2005, he was Special Assistant to the President of St. John’s University. Prior thereto, Mr. Tobin served as Dean of the Tobin College of Business of St. John’s University from August 1998 to September 2003. As Dean, Mr. Tobin was the chief executive and academic leader of the College of Business. Mr. Tobin was Chief Financial Officer at The Chase Manhattan Corporation from 1996 to 1997. Prior thereto, he was Chief Financial Officer of Chemical Bank (which merged with Chase in 1996) from 1991 to 1996 and Chief Financial Officer of Manufacturers Hanover Trust (which merged with Chemical in 1991) from 1985 to 1991. Mr. Tobin has served on the board of directors of CIT Group Inc. (NYSE: CIT) since 1985 (except for one year during which CIT Group was owned by Tyco). Until his retirement in February 2012, he had been a Director of AXA Financial and AXA Equitable since March 1999 and also served on AXA Financial’s Audit Committee, Investment Committee, Investment and Finance Committee, Organization and Compensation Committee, and Executive Committee.

 

Age: 68

 

Education:

St. John, commercial Science 
St. John's College, BBA 

 

Marshall Turner

 

Board Member

Director/Board Member

 

 

Biography:

Mr. Turner served as MEMCs Interim Chief Executive Officer from November 12 2008 to March 1 2009. Effective March 2 2009 Mr. Turner became MEMCs Interim SVP of Business and Strategic Development upon Mr. Chatilas employment as our President and Chief Executive Officer. Previously Mr. Turner served as Chairman and Chief Executive Officer of Dupont Photomasks Inc. from June 2003 through April 2005 (when it was acquired by Toppan Printing Company Ltd.) and President and Chief Executive Officer of that company through May 2006. Dupont Photomasks Inc. manufactures photomasks for semiconductor chip fabricators. Mr. Turner is also a member of the board of directors of Xilinx Inc. a digital programmable logic company listed on NASDAQ and the AllianceBernstein Funds a group of 32 mutual funds advised by AllianceBernstein LP a leading global investment management firm. Mr. Turner has over 10 years experience in CEO roles and 20 years experience as a venture capital fund partner or principal. He has served as a board member of 22 public or private software electronics biotechnology computer telecommunication consumer product and education companies.

 

Joshua A. Weinreich

 

Director of AllianceBernstein Corp.

Director/Board Member

 

 

Biography:

Mr. Joshua A. Weinreich has been appointed as Director of AllianceBernstein Corp., the general partner of AllianceBernstein L.P. effective July 30, 2013.

 

 

 

 

Executives

 

Name

Title

Function

 

Joachim Faber

 

CEO

Chief Executive Officer

 

Biography:

Joachim Faber stepped down from the Management Board of Allianz at the end of 2011 where he served latterly as CEO of Allianz Global Investors one of the top five investment managers globally. He brings a wealth of experience from the perspective of the investor as well as in depth knowledge of banking insurance finance and capital markets from previous roles in a long and distinguished career.

 

Robert M Keith

Chief Executive Officer

Chief Executive Officer

 

 

Biography:

Executive Vice President of AllianceBernstein L.P. (the Adviser)** since July 2008; Director of AllianceBernstein Investments Inc. (ABI)** and the head of ABI since July 2008. Prior to joining ABI in 2006 Executive Managing Director of Bernstein Global Wealth Management and prior thereto Senior Managing Director and Global Head of Client Service and Sales of the Advisers institutional investment management business since 2004. Prior thereto he was a Managing Director and Head of North American Client Service and Sales in the Advisers institutional investment management business with which he had been associated since prior to 2004.

Education:

Brown University, BA 

 

Peter S. Kraus

 

Chairman of the Board, Chief Executive Officer of AllianceBernstein Corp.

Chief Executive Officer

 

 

Biography:

Mr. Peter S. Kraus is Chairman of the Board, Chief Executive Officer of AllianceBernstein Corp., the General Partner of AllianceBernstein LP. Mr. Kraus has experience in financial services, including investment banking, asset management and private management. He served as an executive vice president, the head of global strategy and a member of the Management Committee of Merrill Lynch & Company Inc. (“Merrill Lynch”) from September 2008 through December 2008. Mr. Kraus spent 22 years with Goldman Sachs Group Inc. (“Goldman”), where he most recently served as co-head of the Investment Management Division and a member of the Management Committee, as well as head of firm-wide strategy and chairman of the Strategy Committee. Mr. Kraus also served as co-head of the Financial Institutions Group. He was named a partner at Goldman in 1994 and managing director in 1996. In April 2010, Mr. Kraus was appointed a member of the Management Committee of AXA, which was formed by Mr. de Castries in April 2010 to assist him with the operational management of AXA. He was named a Director of AXA Financial, AXA Equitable, MONY Life Insurance Company (a wholly-owned subsidiary of AXA Financial, “MONY”) and MONY Life Insurance Company of America (a wholly-owned subsidiary of MONY, “MLOA”) in February 2009. He is not compensated for serving in these roles for AXA and its subsidiaries. Mr. Kraus is also Chairman of the Investment Committee of Trinity College, Chair of the Board of Overseers of CalArts, Co-Chair of the Friends of Carnegie International, a member of the board of directors of Lincoln Center for the Performing Arts and the chairman of Lincoln Center’s Art Committee, a member of the board of Keewaydin Foundation, and a member of the National Board of Young Audiences, Inc.

Age: 60

Education:

New York University, MBA 
Trinity College, BA 

 

Robert P. van Brugge

 

Chairman of the Board and Chief Executive Officer of SCB LLC of AllianceBernstein Corp.

Division Head Executive

 

 

Biography:

Mr. Robert P. van Brugge is Chairman of the Board and Chief Executive Officer of SCB LLC of AllianceBernstein Corp., the General Partner of AllianceBernstein LP. Prior to becoming Chairman and CEO, Mr. van Brugge served as Global Director of Research from January 2008 to December 2011. He joined the firm in 2002 as a senior research analyst with SCB LLC.

 

Age: 44

 

Brian Gaffneyis

 

Managing Director

Managing Director

 

 

Biography:

Brian Gaffneyis a Managing Director and Chief Executive Officer of Allianz Global Investors Distributors. Prior to joining Allianz Global Investors Distributors in July of 2008 Mr. Gaffney was a Managing Director and Head of Retail Distribution for Neuberger Berman a position he held since 1999. Mr. Gaffney joined Neuberger Berman in 1993 having started as a regional vice president in the Institutional Mutual Funds division and subsequently as a senior vice president and National Sales Manager. Prior to joining Neuberger Berman Mr. Gaffney was a regional vice president for Cigna Retirement Services from 1988 to 1993. He holds a BA in Sociology from Stonehill College.

 

Nina Tannenbaum

 

Managing Director, Alternatives Sales and Client Services

Managing Director

 

 

Osamu Aoki

Operations Administration-Tokyo

Operations Executive

 

 

Garry Bilbow

Operations Port Admin and Recon-London

Operations Executive

 

 

Ben Chan

Client Server Systems Administrator-Ny

Operations Executive

 

 

Ryan Connors

Brokerage Operations-Wp

Operations Executive

 

 

Mary Dhesi

Operations Client Reporting-London

Operations Executive

 

 

Mark R Gordon

 

Operations, Executive Vice President

Operations Executive

 

 

Denise Keen

Brokerage Operations-Scb Uk

Operations Executive

 

 

Claire Kelly

Operations Trade Support-London

Operations Executive

 

 

Gail Malcolm

Operations Performance-London

Operations Executive

 

 

Frederick Peloso

Brokerage Operations-Wp

Operations Executive

 

 

Katherine Pena

Abis Institutional Operations

Operations Executive

 

 

Sreenivasan Ranganathan

Operations-Entprse Data Management-Reporting Tech

Operations Executive

 

 

Jared Schwartz

Operational Risk-Ny

Operations Executive

 

 

Lisa A Shalett

 

International, Operations, Executive Vice President

Operations Executive

 

 

Education:

Brown University, dual magna cum laude BS (Applied Mathematics & Economics)
Brown University, MBA (Applied Mathematics & Economics)
Harvard Business School, MBA 

 

Mayumi Tachihara

Operations Administration-Tokyo

Operations Executive

 

 

Cyril Zachariah

Brokerage Operations-Wp

Operations Executive

 

 

Joseph Anastasio

Administrative Services-Ny

Administration Executive

 

 

Julian Asare

Administrative Services-Absl

Administration Executive

 

 

Ralph Ashburn

Administrative Services-Ny

Administration Executive

 

 

Lisa Breitenfeld

Fund Admin-Domestic-Ny

Administration Executive

 

 

Ray Brumfield

Administrative Services-Ny

Administration Executive

 

 

Cynthia Caceres

Imo-Iam Admin

Administration Executive

 

 

Maria Campisi

Administrative Services-Ny

Administration Executive

 

 

Regina Cancro

Imo-Iam Admin

Administration Executive

 

 

Finni Chacko

Administrative Services-Ny

Administration Executive

 

 

Debby Cheng

Manager Admin-Taiwan

Administration Executive

 

 

Kin Cheung

Administrative Services-Ny

Administration Executive

 

 

Mairim Dallaryan

Administrative Services-Ny

Administration Executive

 

 

Robert Delucia

Fund Admin-Domestic-Ny

Administration Executive

 

 

Matthew Egge

Imo-Iam Admin

Administration Executive

 

 

Lora Evans

International Admin-Aml

Administration Executive

 

 

Samantha Foster

Fi Manager Admin-London

Administration Executive

 

 

Martin Fradgley

Administrative Services-Absl

Administration Executive

 

 

Anthony Frankie

Imo-Iam Admin

Administration Executive

 

 

Heidi Franklin

Imo-Iam Admin

Administration Executive

 

 

Christopher Frohne

Administrative Services-Ny

Administration Executive

 

 

Michael Helstrom

Imo-Iam Admin

Administration Executive

 

 

Alexandra Herman

Imo-Iam Admin

Administration Executive

 

 

Claudette James

Fund Admin-Domestic-Ny

Administration Executive

 

 

Elvin James

Data Administration

Administration Executive

 

 

George Konidaris

Data Administration

Administration Executive

 

 

Akiko Kumamoto

Administrative Services-Tokyo

Administration Executive

 

 

Joseph Lachowicz

Imo-Iam Admin

Administration Executive

 

 

Maria Landicho

Fund Admin-International-Ny

Administration Executive

 

 

Sean Magrath

Imo-Iam Admin

Administration Executive

 

 

Matthew Martin

Administrative Services-Ny

Administration Executive

 

 

Nunzia Mauro

Imo-Iam Admin

Administration Executive

 

 

Elizabeth Mccue

Administrative Services-Ny

Administration Executive

 

 

Adam Mott

Project Manager

Administration Executive

 

 

Masanori Okano

Japan Itm Fund Admin

Administration Executive

 

 

Rachelle Orlanski

Senior Administrator

Administration Executive

 

 

Julio Pacheco

Administrative Services-Ny

Administration Executive

 

 

Arlene Pacheco

Administrative Services-Ny

Administration Executive

 

 

David Panebianco

Data Administration

Administration Executive

 

 

Jennie Phelon

Imo-Iam Admin

Administration Executive

 

 

Kristen Reinhardt

Fund Admin-Domestic-Ny

Administration Executive

 

 

Edgar Roque

Fund Admin-Domestic-Ny

Administration Executive

 

 

James Rosenberger

Business Manager

Administration Executive

 

 

Neil Ruffell

Data Administration

Administration Executive

 

 

Sai Sakhamuri

Client Server Systems Administrator-Ny

Administration Executive

 

 

Nicholas Sanders

International Admin-Aml

Administration Executive

 

 

Mark Shahdanian

Administrative Services-Ny

Administration Executive

 

 

Carla Shen

Instl Rsrch-Manager Admin

Administration Executive

 

 

Julia Sossan

Administrative Services-Ny

Administration Executive

 

 

Alistair Steel

Administrative Services-Absl

Administration Executive

 

 

Paul Sullivan

Hedge Fund Admin-Ny

Administration Executive

 

 

Miyako Taniguchi

Manager Admin-Tokyo

Administration Executive

 

 

John Tota

Data Administration

Administration Executive

 

 

Jacqueline Wilhelmy

Commission Administration Group

Administration Executive

 

 

Irena Yonyk-Dragan

Imo-Iam Admin

Administration Executive

 

 

Raymond Yorczak

Data Administration

Administration Executive

 

 

Sharon E Fay

Finance

Finance Executive

 

 

Education:

Brown University, BA 
Harvard Business School, MBA 

 

Donald Grennon

Financial Advisor

Finance Executive

 

 

Thomas S Hexner

 

Finance, International, Executive Vice President

Finance Executive

 

 

Education:

Hamilton College, BA (Economics)

 

Scott Krauthamer

Chartered Financial Analyst

Finance Executive

 

 

Christopher Lafontaine

Financial Compensation

Finance Executive

 

 

Dimitrios Litos

Financial Compensation

Finance Executive

 

 

Seth J Masters

 

Finance, Executive Vice President

Finance Executive

 

 

Education:

Oxford University, BA (Economics)

 

Joseph Proscia

Finance Planner East Sales

Finance Executive

 

 

James G Reilly

 

Finance, Executive Vice President

Finance Executive

 

 

Education:

Northwestern University, BS (Engineering)
University of Chicago, MBA 

 

Daniel Stack

Finance Planner West Sales

Finance Executive

 

 

Gregory J Tencza

 

Finance, Executive Vice President

Finance Executive

 

 

Education:

Colgate University, BS 

 

John C. Weisenseel

 

Chief Financial Officer, Senior Vice President of AllianceBernstein Corp.

Finance Executive

 

 

Biography:

Mr. John C. Weisenseel is Chief Financial Officer, Senior Vice President of AllianceBernstein Corp., the General Partner of AllianceBernstein LP. From 2004 to April 2012, he worked at The McGraw Hill Companies (“McGraw Hill”), where he served initially as Senior Vice President and Corporate Treasurer and, since 2007, as Chief Financial Officer of the firm’s Standard & Poor’s subsidiary. Prior to joining McGraw Hill, Mr. Weisenseel was Vice President and Corporate Treasurer for Barnes & Noble, Inc. Before that, he spent ten years in derivatives trading and financial positions at Citigroup. A Certified Public Accountant, Mr. Weisenseel also worked at KPMG LLP.

 

Age: 53

 

Alan Adams

International Accounting-Acsl

Accounting Executive

 

 

Monzur Ahmed

International Accounting-Acsl

Accounting Executive

 

 

Lourdes Camacho

Accounts Payable

Accounting Executive

 

 

Edmond Chan

International Accounting-Hk

Accounting Executive

 

 

Michelle Chow

International Accounting-Acsl

Accounting Executive

 

 

Paul Gonoud

Bd Accounting

Accounting Executive

 

 

Joanna Green

International Accounting-Acsl

Accounting Executive

 

 

Loren Joseph

International Accounting-Acsl

Accounting Executive

 

 

William Lane

Pc Sales-Ny

Accounting Executive

 

 

Gillian O'Dowd

International Accounting-Acsl

Accounting Executive

 

 

Satoshi Yamamoto

International Accounting-Tokyo

Accounting Executive

 

 

Angela Chiriboga

Corporate Tax

Corporate Tax Executive

 

 

Joseph Artiglere

Sales Trading

Investment Executive

 

 

Bogdan Bazylewicz

Information Technology-Instl Investment Management-Ny

Investment Executive

 

 

Joseph Bracco

Sales Trading

Investment Executive

 

 

Philip Budhram

Institutional Services-Management Information Syst

Investment Executive

 

 

Yung Chang

Institutional Services-Management Information Syst

Investment Executive

 

 

Jian Chen

Institutional Services-Management Information Syst

Investment Executive

 

 

Michael Dolan

Sales Trading

Investment Executive

 

 

Naveen Harjani

Institutional Services-Management Information Syst

Investment Executive

 

 

Ronald Hochman

Sales Trading

Investment Executive

 

 

Matt Hudson

Director - Pan European Trading and Sales Trading

Investment Executive

 

 

Evgenia Kagan

Institutional Services-Management Information Syst

Investment Executive

 

 

Michele Kass

Director of Institutional Sales

Investment Executive

 

 

Jacqueline Markoff

Senior Private Client Associate

Investment Executive

 

 

Jong Park

Information Technology-Instl Investment Management-Ny

Investment Executive

 

 

Edwin Peter

Value Trading-Management Information Systems-Uk

Investment Executive

 

 

Maruthiraja Pichaimuthu

Information Technology-Private Client-Wp

Investment Executive

 

 

Dmitry Rakhlin

Global Head, Quantitative Trading

Investment Executive

 

 

Alla Sanina

Information Technology-Private Client-Wp

Investment Executive

 

 

Christopher Scanlon

Institutional Services-Management Information Syst

Investment Executive

 

 

Carl Sells

Fi Bond Trading-Europe

Investment Executive

 

 

Dominic Sofocleous

Sales Trading

Investment Executive

 

 

Kwane Thomas

Sales Trading

Investment Executive

 

 

Meredith Ulloa

Sales Trading

Investment Executive

 

 

Kelly Golden

Domestic Payroll

Benefits & Compensation Executive

 

 

Emily Barthmaier

Human Resources-Ny

Human Resources Executive

 

 

Stephanie Mirot

Human Resources-Lux

Human Resources Executive

 

 

Candice Nelissen

Human Resources

Human Resources Executive

 

 

Joshua Akins

 

Abis Training-Sa

Training Executive

 

 

Marta Casso

Abis Client Services

Customer Service Executive

 

 

Helen Erpelding

Abis Client Services

Customer Service Executive

 

 

Kim Katz

Manager Client Advisor

Customer Service Executive

 

 

Christine Kopelman

Spm, Fi Client Services-Ny

Customer Service Executive

 

 

Curtis Sanders

Client Services Technology-Lao

Customer Service Executive

 

 

Edwin Williammee

Client Services Technology-Dal

Customer Service Executive

 

 

John Wong

Client Services Technology-Ny

Customer Service Executive

 

 

Peter Agresta

Instl Sales-Large Mkt

Sales Executive

 

 

Enrique Bargioni

Pc Sales-Miami

Sales Executive

 

 

Aaron Bates

Pc Sales-London

Sales Executive

 

 

Kate Boe

Sales and Marketing Management

Sales Executive

 

 

Brandon Born

Fi Sales

Sales Executive

 

 

Ney Castro

Fi Internal Sales

Sales Executive

 

 

Geoffrey Cochrane

Instl Sales-Boston Sales

Sales Executive

 

 

Meredith Cohen

Instl Sales-Support

Sales Executive

 

 

Betty Cook

Inbound Sales Support-Sa

Sales Executive

 

 

Kevin Dausch

Strategic Sales Division

Sales Executive

 

 

Kim Davis

Pc Sales-Ny

Sales Executive

 

 

Debra Diaz

Inbound Sales Support-Sa

Sales Executive

 

 

Joseph Dominguez

Fi Sales

Sales Executive

 

 

John English

Fi Sales

Sales Executive

 

 

Pedro Fernandez

Pc Sales-Miami

Sales Executive

 

 

Daniel Gavin

Pc Sales-Tampa

Sales Executive

 

 

Bruce Gelber

Inbound Sales Support-Sa

Sales Executive

 

 

Mark Gessner

B, D South Sales

Sales Executive

 

 

Forrest Green

Pc Sales-Hou

Sales Executive

 

 

David Greene

Pc Sales-Wdc

Sales Executive

 

 

Lawrence Heath

Pc Sales-Ny

Sales Executive

 

 

William Herrman

Pc Sales-Ny

Sales Executive

 

 

Eric Indovina

B, D South Sales

Sales Executive

 

 

Kimberly Krapf

B, D West Sales

Sales Executive

 

 

Edward Lamsback

Fi Internal Sales

Sales Executive

 

 

Kenneth Lane

Instl Sales-Large Mkt

Sales Executive

 

 

Maria Latchman

Instl Sales-Support

Sales Executive

 

 

Steven Morgan

Pc Sales-Sfo

Sales Executive

 

 

Scott Nevins

Vice President

Sales Executive

 

 

James Ohoppe

Pc Sales-Ny

Sales Executive

 

 

John Patnaude

Pc Sales-Chi

Sales Executive

 

 

Brian Paulson

B, D Internal Sales

Sales Executive

 

 

Cynthia Plawker

Pc Sales-Ny

Sales Executive

 

 

Jennifer Robinson

B, D Internal Sales

Sales Executive

 

 

Magda Salas

Sales Data Management-Sa

Sales Executive

 

 

Eric Siedband

Pc Sales-Minn

Sales Executive

 

 

Henry Snyder

Pc Sales-Ny

Sales Executive

 

 

Carolyn Stone

Pc Sales-London

Sales Executive

 

 

Michele Talanco

Sales Data Management-Sa

Sales Executive

 

 

Louis Tousignant

B, D Central Sales

Sales Executive

 

 

James Vincent

Instl Sales-California Sales

Sales Executive

 

 

Edward Wenrick

Pc Sales-Sfo

Sales Executive

 

 

Natascha Zinner

Iim Emea Sales, Service Europe

Sales Executive

 

 

Hazem Abdallah

Instl Sales-International Rsrch-Uk

International Sales Executive

 

 

Marie-Jose Freier

Instl Sales-International Rsrch-Uk

International Sales Executive

 

 

Sebastian Lewis

Instl Sales-Bernstein International

International Sales Executive

 

 

Joakim Lidfeldt

Instl Sales-International Rsrch-Uk

International Sales Executive

 

 

Paolo Milella

Instl Sales-International Rsrch-Uk

International Sales Executive

 

 

Robert Scarperi

Instl Sales-Bernstein International

International Sales Executive

 

 

James Van Tassel

Instl Sales-International Rsrch-Uk

International Sales Executive

 

 

Zhihong An

Global Analytics

International Executive

 

 

Sandra Ausesky

International Shrhldr Services-Lux

International Executive

 

 

Jim Basedow

Vice President, Communications Engineering, Global Enterprise Technology

International Executive

 

 

Christophe Bosse

International Shrhldr Services-Lux

International Executive

 

 

Moussa Bouregba

International Shrhldr Services-Lux

International Executive

 

 

Eva Cheong

International Shrhldr Services-Singapore

International Executive

 

 

Audrey Chow

International Shrhldr Services-Singapore

International Executive

 

 

Terence Cuddihy

Global Analytics

International Executive

 

 

Nicholas Davidson

Global Value-Global

International Executive

 

 

Hamish Fitzsimons

Global Equity Rsrch-Asy

International Executive

 

 

Eric Franco

Portfolio Manager Senior

International Executive

 

 

Jan Glowacki

International Shrhldr Services-Lux

International Executive

 

 

Morgan Harting

Global, International Value

International Executive

 

 

Jordan Klein

Instl Services-Global Product Management

International Executive

 

 

Nikki Moradi

Global Equity Rsrch-Value-Abl

International Executive

 

 

Pascale Roujou

International Shrhldr Services-Lux

International Executive

 

 

Estelle Ubrig

International Shrhldr Services-Lux

International Executive

 

 

Ines Wolff

International Shrhldr Services-Lux

International Executive

 

 

Helen Bunting

Design-Uk

Marketing Executive

 

 

Miriana Dounis

Design-Uk

Marketing Executive

 

 

Richard G Taggert

 

Marketing, Executive Vice President

Marketing Executive

 

 

Bertram Hruska

Shareholder Services-Sa

Shareholder Relations Executive

 

 

Frances Young

Shareholder Services-Sa

Shareholder Relations Executive

 

 

Lawrence H Cohen

Chief Information Officer / Chief Technology Officer, Executive Vice President

Information Executive

 

 

Education:

Harvard University, BA (Engineering And Applied Sciences)

 

David Gerbosi

Project Manager, Information Technology

Information Executive

 

 

Jean Kleinpaste

Fixed Inc Ins Client Systems

Information Executive

 

 

Jesse Moreno

Help Desk-San Antonio

Information Executive

 

 

Lee Perry

Help Desk-London

Information Executive

 

 

Man Chu

 

Web Services Group-Ny

Network Management Executive

 

 

John Knoernschild

Network Engineer

Network Management Executive

 

 

Quoc Ong

Web Services Group-Ny

Network Management Executive

 

 

Katherine Robertson

Web Services Group-Ny

Network Management Executive

 

 

Innocent Anyanwu

Mutual Fund Technology-Ny

Engineering/Technical Executive

 

 

Sanjeev Gooneratne

Engineering-Ny

Engineering/Technical Executive

 

 

Liyun Kong

Fixed Income Technology

Engineering/Technical Executive

 

 

Sui Lau

Fixed Income Technology

Engineering/Technical Executive

 

 

Douglas Mcdowell

Vice President, Equity Research Technology

Engineering/Technical Executive

 

 

Nanditha Prabhu

Mutual Fund Technology-Ny

Engineering/Technical Executive

 

 

Carmela Reyes

Technical Lead

Engineering/Technical Executive

 

 

Daniel Rogal

Senior Programmer Analyst

Engineering/Technical Executive

 

 

Andrew Chin

Director of Research

Research & Development Executive

 

 

Ira Das

Research Analyst

Research & Development Executive

 

 

Beth Day

Associate Director of Research and Chief Talent Officer

Research & Development Executive

 

 

Caroline Hemmings

Instl Rsrch-European Research London

Research & Development Executive

 

 

Daniel Loewy

Director of Research

Research & Development Executive

 

 

Eric Scher

Instl Rsrch-European Research Ny

Research & Development Executive

 

 

David Larson

Product Development-Birm Ny

Product Management Executive

 

 

Eriko Miura

Itm Japan-Product Management

Product Management Executive

 

 

Lauryn Rivello

Product Material-Ny

Product Management Executive

 

 

Chizu Soga

Itm Japan-Product Management

Product Management Executive

 

 

Kyoko Yamamoto

Itm Japan-Product Management

Product Management Executive

 

 

David Ochotorena

Iim Business Development, Consultant Rel-Us

Business Development Executive

 

 

Charles Clavel

Instl Rsrch-Strategy

Planning Executive

 

 

Jay Panwar

Instl Rsrch-Strategy

Planning Executive

 

 

Elizabeth Agge

Legal Ny

Legal Executive

 

 

Mona Bhalla

Legal-Ny

Legal Executive

 

 

John Cheng

Legal Iim-Hk

Legal Executive

 

 

Laurence E Cranch

General Counsel of AllianceBernstein Corp.

Legal Executive

 

 

Biography:

Mr. Laurence E. Cranch is General Counsel of AllianceBernstein Corp., the General Partner of AllianceBernstein LP. Prior to joining AllianceBernstein, Mr. Cranch was a partner of Clifford Chance, an international law firm. Mr. Cranch joined Clifford Chance in 2000 when Rogers & Wells, a New York law firm of which he was Managing Partner, merged with Clifford Chance.

 

Age: 66

 

Education:

University of Pennsylvania, JD 

 

Jim Lamke

Legal-Ny

Legal Executive

 

 

Mark R Manley

Senior Vice President, Legal, Executive Officer

Legal Executive

 

 

Education:

New York Law School, JD 
St. John's University, BA 

 

Katherine Smith

Mutual Fund Legal

Legal Executive

 

 

Earl D Weiner

 

Class Each Of Counsel

Legal Executive

 

 

Biography:

Of Counsel and Partner prior to January 2007 of the law firm Sullivan & Cromwell LLP and member of ABA Federal Regulation of Securities Committee Task Force to draft editions of the Fund Directors Guidebook. He also serves as a director or trustee of various non-profit organizations and has served as Chairman or Vice Chairman of a number of them. He has served as a director or trustee of the AllianceBernstein Funds since 2007 and is Chairman of the Governance and Nominating Committees of most of the Funds.

 

Juliette Zamichiei

Legal and Compliance-Lux

Legal Executive

 

 

Brian Cawley

Command Center Production Control Ny

Manufacturing Executive

 

 

Cheryl De Krei

Instl Rsrch-Production

Manufacturing Executive

 

 

Rebecca Lipman

Instl Rsrch-Production

Manufacturing Executive

 

 

Allison Boxer

Abi-Spm Retail Group-Ny

Merchandise Management Executive

 

 

Christian Wilson

Abi Glbl Retail Inv Group

Merchandise Management Executive

 

 

Blake Mastalir

Vice President-Real Estate Investments

Facilities Executive

 

 

Jay Nydick

Co-Head of Real Estate

Facilities Executive

 

 

David Altman

Client Advisors-Nyo

Other

 

 

Berengere Audain

Switzerland-General-Associate Whlslrs

Other

 

 

Valerie Austin

Wmg-Support-Ny

Other

 

 

Michael Bagatell

Pc Support-Wpb

Other

 

 

Claire Barbosa

Abis Transaction Processing

Other

 

 

Katherine Barr

Pc Support-Ny

Other

 

 

Patricia Barrera

Abis Transaction Processing

Other

 

 

Kisha Beard

Pc Support-Sea

Other

 

 

Lurvey Beazer

Settlements

Other

 

 

Julia Begley

Pc Support-Wpb

Other

 

 

Danielle Belson

Pc Support-Ny

Other

 

 

Christoph Berenbroick

Strategic Initiatives

Other

 

 

Christian Breda

Imo-Pc Servicing

Other

 

 

Azalia Brennan

Abis Transaction Processing

Other

 

 

Liliana Briones

Abis Transaction Processing

Other

 

 

Daniel Brunello

Pc Support-Hou

Other

 

 

Edward Bryan

Iim Us Public Funds

Other

 

 

Susan Buchsbaum

Vice President

Other

 

 

Kerri Burke

Pc Support-Wpb

Other

 

 

Bryan Busch

Imo-Client Reporting

Other

 

 

Michael Canter

Fi Structured Asset Rsrch

Other

 

 

Ali Carmen

Pc Support-Chi

Other

 

 

Arthur Cashin

Eimt-Management-Ny

Other

 

 

Adam Castle

 

Fixed Income Associate Program

Other

 

 

Alex Chao

System Integrator

Other

 

 

Patrick Chappel

Eimt-Glbl Applications Support-Lon

Other

 

 

Mary Chase

Domestic Eq Rsrch-Ny

Other

 

 

Kan Cheng

Value Pmg-Hk

Other

 

 

Peter Chocian

Value Quant Rsrch-Abl

Other

 

 

Oswald Clint

Instl Rsrch-European Rsrch London

Other

 

 

Edith Cordova

Abis Transaction Processing

Other

 

 

John Cummings

 

Manager

Other

 

 

Biography:

John Cummings an Executive Vice President and portfolio manager within PIMCOs municipal bond team joined PIMCO in 2002. He began his investment career in 1983 and holds an MBA in finance from Rutgers University.

 

Patrice Davies

Pc Support-Chi

Other

 

 

Paula Dawson

Blend Strategic-Abl

Other

 

 

Linda Dehaven

Manager

Other

 

 

Gershon Distenfeld

Vice President, Fund's Adviser

Other

 

 

John H Dobkin

 

Consultant

Other

 

 

Biography:

Independent Consultant since prior to 2005. Formerly President of Save Venice Inc. (preservation organization) from 2001-2002 a Senior Advisor from June 1999 June 2000 and President of Historic Hudson Valley (historic preservation) from December 1989 May 1999. Previously Director of the National Academy of Design. He has served as a director or trustee of various AllianceBernstein Mutual Funds since 1992 and as Chairman of the Audit Committees of a number of such Funds from 2001-2008.

 

Stephanie Dong

Eimt-Glbl Application Support

Other

 

 

Christopher Farina

Us Taxable Bond Trdg

Other

 

 

Joan Fasano

Billing

Other

 

 

Pierre Ferragu

Instl Rsrch-European Rsrch London

Other

 

 

Cynthia Flores

Abis Dealer Services-Sa

Other

 

 

Frank Gagliardi

Pc Support-Cle

Other

 

 

Richard Gairdner

Blend Pmg-Abl

Other

 

 

Elida Garza

Abis Transaction Processing

Other

 

 

James Geary

Pc Support-Wpb

Other

 

 

Drew Gibbons

Pc Support-Chi

Other

 

 

Jared Goldsmith

Pc Support-Ny

Other

 

 

Scott Gruber

Instl Rsrch-U S

Other

 

 

Douglas Guillory

Pc Support-Sfo

Other

 

 

Paul Hanna

Gets-London

Other

 

 

Masaaki Harada

Performnce and Attribution-Tokyo

Other

 

 

Graham Harris

Odemr-Pms

Other

 

 

Olivier Herson

France-Field Whlslrs

Other

 

 

Ashleigh Hoey

Pc Support-Ny

Other

 

 

Brian Holland

Value Pmg-Birm Ny

Other

 

 

Rebecca Horton

Pc Support-Dal

Other

 

 

Scott Howe

Vice President - Client Relations

Other

 

 

Karoline Humphries

Pc Support-Hou

Other

 

 

Isabelle Husson

France-Associate Whlslrs

Other

 

 

Gareth Jenkins

Dvlpd Mkts Rsrch-Europe-Abl

Other

 

 

Abhay Joshi

Sovereign Wealth-Rel Management

Other

 

 

Grant Kallen

Oedmr-Heart of Gold-Wp

Other

 

 

Akhil Kapoor

Analyst

Other

 

 

Kiriakos Kasantsidis

Vice President

Other

 

 

Gregory Keegan

Pc Support-Cle

Other

 

 

Gary Krueger

Aum Reporting

Other

 

 

Philip Ladyman

Blend Pmg-Abl

Other

 

 

Margaret Landwehr

Presentations-Ny

Other

 

 

Laurie Lawrence

Odemr-Pms

Other

 

 

Jessica Lee

Non Us Associate Whlslr-Taiwan

Other

 

 

David Levine

Pc Support-Ny

Other

 

 

Ginnie Li

Non Us Associate Whlslr-Taiwan

Other

 

 

Dianne Lob

Wmg-Management-Ny

Other

 

 

Clarie Luk

Fi Rsrch-Glbl Econ-Hk

Other

 

 

James Magarelli

Pc Support-Ny

Other

 

 

Suraj Mannooparambil

Application Support Specialist

Other

 

 

Marc O Mayer

 

Executive Vice President

Other

 

 

Education:

Yale, BA (Philosophy)
Yale University, BA (Philosophy)
Columbia Business School, MBA 

 

Colin Mcgranahan

Instl Rsrch-U S

Other

 

 

Johanna Mckenzie

Proofreading-Ny

Other

 

 

Rebecca Metherall

Blend Strategic-Abl

Other

 

 

David Mitchell

Vice President, Regional Manager

Other

 

 

Aya Morita

Client Reporting-Tokyo

Other

 

 

Benjamin Moscowicz

Client Advisors-Mia

Other

 

 

Itay Moshenberg

Value Quant Rsrch-Us

Other

 

 

Daria Murray

Vice President

Other

 

 

Kate Northen

Blend Pmg-Abl

Other

 

 

Mark Olsen

Abis Application Services

Other

 

 

Beth Paul

Wmg-Support-Ny

Other

 

 

Karin Pembroke

Pc Support-Wpb

Other

 

 

Jeffrey S Phlegar

 

Executive Vice President

Other

 

 

Education:

Adelphi University, MBA (Money Management)
Hofstra University, undergraduate (Business Finance)

 

Jennifer Pina

Wmg-Support-La

Other

 

 

Geoffrey Porges

Senior Vice President

Other

 

 

Katherine Prevost

Pc Support-Atlanta

Other

 

 

Iain Pyle

Instl Rsrch-European Rsrch London

Other

 

 

Kacey Reyes

Pc Support-Tampa

Other

 

 

Eric Roadcap

Abis Corporate Actions-Sa

Other

 

 

Jennifer Romano

Pc Support-Ny

Other

 

 

James Ross

Alternative Investments-Eur

Other

 

 

Koichi Sakai

Gets-Tokyo

Other

 

 

Graeme Salt

Odemr-Pms

Other

 

 

Jennifer Santangelo

Growth Pmg-Ny

Other

 

 

Maki Sato

Client Reporting-Tokyo

Other

 

 

Evan Sauer

Fi Structured Asset Rsrch

Other

 

 

Tracy Schneider

Pc National Group

Other

 

 

Debra Schneider

Eimt-Rsrch and Pmg-Wp

Other

 

 

Hanna Schwarz

Germany Associate Whlslr

Other

 

 

Marc Seaverson

Wmg-Rsrch, Wfs Tools-Tam

Other

 

 

Finbar Sheehy

Instl Rsrch-U S

Other

 

 

Benjamin Sklar

Blend Pmg-Ny

Other

 

 

Karen Slavik

Pc Support-Dal

Other

 

 

Chang Song

Korea Associate Whlslrs

Other

 

 

Walter Sosnowski

Strategic Sourcing-Print and Fullfillmnt

Other

 

 

Adam Spatz

Imo-Pc Servicing

Other

 

 

Craig Storch

Client Advisors-Wpb

Other

 

 

Casey Sullivan

Pc Support-Ny

Other

 

 

Derek Tay

Singapore-Associate Whlslrs

Other

 

 

John Taylor

Uk Multi Sector-Abl

Other

 

 

Anna Tsu

Port Impl-Multi Sector-Ny

Other

 

 

Paul Ward

Pc Support-Ny

Other

 

 

Richard Weaver

Wmg-Portfolio-Ny

Other

 

 

Patrick Whalen

 

Executive Officer

Other

 

 

Education:

Wharton School at the University of Pennsylvania, BS (Economics)

 

Jason Wilson

Client Guideline Management

Other

 

 

Carmen Yeung

Asia Pac Sourcing

Other

 

 

Hiroshi Yokotani

Fixed Income Director

Other

 

 

Atsuo Yoshino

Client Reporting-Tokyo

Other

 

 

Christopher Zeig

Imo-Pc Servicing

Other

 

 

Lloyd Zeitman

Smb Manager

Other

 

 

Ian Zinn

Pc Support-Ny

Other

 

 

 

 

Annual Income Statement

 

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2011

Reclassified Normal 
31-Dec-2010

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

2,634.9

2,642.3

2,838.8

2,799.0

3,395.7

Revenue

2,634.9

2,642.3

2,838.8

2,799.0

3,395.7

    Other Revenue

101.8

107.6

109.8

107.8

118.4

Other Revenue, Total

101.8

107.6

109.8

107.8

118.4

Total Revenue

2,736.7

2,749.9

2,948.6

2,906.9

3,514.2

 

 

 

 

 

 

    Cost of Revenue

367.1

302.7

286.7

234.2

307.9

Cost of Revenue, Total

367.1

302.7

286.7

234.2

307.9

Gross Profit

2,267.8

2,339.6

2,552.1

2,564.8

3,087.8

 

 

 

 

 

 

    Selling/General/Administrative Expense

973.9

797.7

859.1

760.3

792.3

    Labor & Related Expense

1,168.6

1,834.0

1,320.5

1,297.8

1,454.7

Total Selling/General/Administrative Expenses

2,142.5

2,631.7

2,179.6

2,058.0

2,247.0

    Amortization of Intangibles

21.4

21.4

21.3

21.1

20.7

Depreciation/Amortization

21.4

21.4

21.3

21.1

20.7

        Interest Expense - Operating

3.4

2.5

2.1

2.7

13.1

    Interest Expense - Net Operating

3.4

2.5

2.1

2.7

13.1

Interest Expense (Income) - Net Operating Total

3.4

2.5

2.1

2.7

13.1

Total Operating Expense

2,534.4

2,958.4

2,489.7

2,316.1

2,588.7

 

 

 

 

 

 

Operating Income

202.4

-208.5

458.9

590.8

925.5

 

 

 

 

 

 

    Other Non-Operating Income (Expense)

0.0

0.0

6.8

33.7

18.7

Other, Net

0.0

0.0

6.8

33.7

18.7

Income Before Tax

202.4

-208.5

465.6

624.5

944.2

 

 

 

 

 

 

Total Income Tax

13.8

3.1

38.5

46.0

95.8

Income After Tax

188.6

-211.6

427.1

578.5

848.4

 

 

 

 

 

 

    Minority Interest

0.3

36.8

15.3

-22.4

-9.2

Net Income Before Extraord Items

188.9

-174.8

442.4

556.1

839.2

Net Income

188.9

-174.8

442.4

556.1

839.2

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

188.9

-174.8

442.4

556.1

839.2

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

188.9

-174.8

442.4

556.1

839.2

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

277.7

278.0

275.4

266.3

261.0

Basic EPS Excl Extraord Items

0.68

-0.63

1.61

2.09

3.22

Basic/Primary EPS Incl Extraord Items

0.68

-0.63

1.61

2.09

3.22

Dilution Adjustment

-

0.0

-

-

-

Diluted Net Income

188.9

-174.8

442.4

556.1

839.2

Diluted Weighted Average Shares

277.7

278.0

277.1

266.5

261.5

Diluted EPS Excl Extraord Items

0.68

-0.63

1.60

2.09

3.21

Diluted EPS Incl Extraord Items

0.68

-0.63

1.60

2.09

3.21

Dividends per Share - Common Stock Primary Issue

1.36

1.38

1.58

1.73

3.87

Gross Dividends - Common Stock

381.5

387.5

440.9

464.7

1,019.7

Interest Expense, Supplemental

3.4

2.5

2.1

2.7

13.1

Depreciation, Supplemental

52.8

60.9

59.6

61.4

65.6

Normalized Income Before Tax

202.4

-208.5

465.6

624.5

944.2

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

13.8

3.1

38.5

46.0

95.8

Normalized Income After Tax

188.6

-211.6

427.1

578.5

848.4

 

 

 

 

 

 

Normalized Inc. Avail to Com.

188.9

-174.8

442.4

556.1

839.2

 

 

 

 

 

 

Basic Normalized EPS

0.68

-0.63

1.61

2.09

3.22

Diluted Normalized EPS

0.68

-0.63

1.60

2.09

3.21

Amort of Intangibles, Supplemental

21.4

21.4

21.3

21.1

20.7

Rental Expenses

100.4

121.2

121.5

133.6

125.7

Normalized EBIT

205.8

-205.9

460.9

593.5

938.6

Normalized EBITDA

279.9

-123.6

541.9

676.1

1,024.9

    Current Tax - Domestic

2.4

10.6

2.6

5.6

13.7

    Current Tax - Foreign

8.9

11.4

25.1

32.0

78.4

    Current Tax - Local

0.5

1.8

1.4

0.6

1.8

    Current Tax - Other

2.6

8.7

10.4

2.4

9.9

Current Tax - Total

14.4

32.5

39.5

40.6

103.8

    Deferred Tax - Total

-0.6

-29.4

-1.0

5.4

-8.0

Deferred Tax - Total

-0.6

-29.4

-1.0

5.4

-8.0

Income Tax - Total

13.8

3.1

38.5

46.0

95.8

Interest Cost - Domestic

4.6

4.6

4.6

4.4

5.0

Service Cost - Domestic

-

-

-

-

3.0

Prior Service Cost - Domestic

-

-

-

-

-0.4

Expected Return on Assets - Domestic

-5.0

-5.1

-4.5

-3.1

-4.6

Actuarial Gains and Losses - Domestic

0.8

0.4

0.3

0.4

0.0

Curtailments & Settlements - Domestic

-

-

-

-

-3.5

Other Pension, Net - Domestic

-0.1

-0.1

-0.1

-0.1

-0.1

Domestic Pension Plan Expense

0.4

-0.3

0.3

1.6

-0.7

Defined Contribution Expense - Domestic

13.0

13.7

14.6

15.2

24.5

Defined Contribution Expense - Foreign

6.7

7.7

7.1

7.7

10.6

Total Pension Expense

20.1

21.2

22.0

24.5

34.4

Discount Rate - Domestic

5.10%

5.50%

6.05%

6.20%

6.55%

Expected Rate of Return - Domestic

8.00%

8.00%

8.00%

8.00%

8.00%

Compensation Rate - Domestic

-

-

-

-

3.14%

Total Plan Interest Cost

4.6

4.6

4.6

4.4

5.0

Total Plan Service Cost

-

-

-

-

3.0

Total Plan Expected Return

-5.0

-5.1

-4.5

-3.1

-4.6

Total Plan Other Expense

-0.1

-0.1

-0.1

-0.1

-0.1

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

UpdateType/Date

Updated Normal 
31-Dec-2012

Restated Normal 
31-Dec-2012

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate

1

1

1

1

1

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

2,178.5

1,918.5

1,760.1

1,599.5

3,125.1

Cash and Short Term Investments

2,178.5

1,918.5

1,760.1

1,599.5

3,125.1

        Accounts Receivable - Trade, Gross

266.5

266.0

344.3

347.9

378.7

        Provision for Doubtful Accounts

-0.8

-0.8

-0.9

-1.4

-1.5

    Trade Accounts Receivable - Net

1,615.8

1,339.2

1,389.8

1,098.9

1,027.8

Total Receivables, Net

1,615.8

1,339.2

1,389.8

1,098.9

1,027.8

        Buildings

273.4

349.0

330.4

348.2

322.8

        Machinery/Equipment

525.3

565.0

548.0

544.5

522.9

    Property/Plant/Equipment - Gross

798.7

913.9

878.4

892.7

845.7

    Accumulated Depreciation

-602.6

-640.8

-578.0

-533.0

-479.9

Property/Plant/Equipment - Net

196.1

273.1

300.4

359.7

365.8

Goodwill, Net

2,954.3

2,954.3

2,939.2

2,893.0

2,893.0

    Intangibles - Gross

425.3

424.7

419.2

415.9

414.3

    Accumulated Intangible Amortization

-256.1

-234.7

-213.3

-191.9

-170.8

Intangibles, Net

169.2

190.0

205.9

224.0

243.5

    LT Investment - Affiliate Companies

-

-

-

172.7

176.8

    LT Investments - Other

732.3

795.3

756.6

602.1

401.0

Long Term Investments

732.3

795.3

756.6

774.8

577.8

    Other Assets

268.8

237.9

227.4

265.0

270.4

Other Assets, Total

268.8

237.9

227.4

265.0

270.4

Total Assets

8,115.1

7,708.4

7,579.4

7,214.9

8,503.5

 

 

 

 

 

 

Accounts Payable

3,004.3

2,337.1

2,099.8

1,669.3

3,061.4

Payable/Accrued

499.1

362.6

422.9

278.4

310.4

Accrued Expenses

485.2

534.3

338.6

316.3

360.1

Notes Payable/Short Term Debt

0.0

0.0

0.0

0.0

0.0

    Long Term Debt

323.2

444.9

225.0

249.0

284.8

Total Long Term Debt

323.2

444.9

225.0

249.0

284.8

Total Debt

323.2

444.9

225.0

249.0

284.8

 

 

 

 

 

 

Minority Interest

43.5

54.0

124.5

171.6

169.2

Total Liabilities

4,355.3

3,732.9

3,210.8

2,684.6

4,185.8

 

 

 

 

 

 

    General Partner

41.2

42.6

49.0

48.7

45.0

Preferred Stock - Non Redeemable, Net

41.2

42.6

49.0

48.7

45.0

    Limited Partner

4,165.5

4,306.8

4,902.9

4,850.6

4,485.6

Common Stock

4,165.5

4,306.8

4,902.9

4,850.6

4,485.6

Additional Paid-In Capital

-8.4

-12.1

-16.0

-19.7

-23.2

    Other Equity

-389.9

-323.4

-535.4

-327.4

-117.6

    Other Comprehensive Income

-48.5

-38.4

-31.8

-21.9

-72.1

Other Equity, Total

-438.5

-361.8

-567.2

-349.2

-189.7

Total Equity

3,759.8

3,975.5

4,368.6

4,530.4

4,317.7

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

8,115.1

7,708.4

7,579.4

7,214.9

8,503.5

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

277.6

277.8

278.1

274.7

263.7

Total Common Shares Outstanding

277.6

277.8

278.1

274.7

263.7

Treasury Shares - Common Stock Primary Issue

0.0

0.0

0.0

0.0

0.0

Employees

3,318

3,764

4,256

4,369

4,997

Number of Common Shareholders

456

462

504

507

498

Accumulated Intangible Amort, Suppl.

256.1

234.7

213.3

191.9

170.8

Total Operating Leases, Supplemental

1,768.5

2,086.0

2,081.6

2,391.0

2,448.4

Operating Lease Payments Due in Year 1

139.4

148.2

140.7

126.2

127.3

Operating Lease Payments Due in Year 2

136.0

148.9

149.5

133.7

131.8

Operating Lease Payments Due in Year 3

136.2

149.7

148.7

142.8

133.0

Operating Lease Payments Due in Year 4

135.6

151.6

148.2

143.2

136.3

Operating Lease Payments Due in Year 5

136.9

151.5

144.5

142.8

136.4

Operating Lease Pymts. Due in 2-3 Years

272.2

298.6

298.2

276.5

264.8

Operating Lease Pymts. Due in 4-5 Years

272.5

303.1

292.7

286.0

272.7

Oper. Lse. Pymts. Due in Year 6 & Beyond

1,084.4

1,336.1

1,350.0

1,702.3

1,783.6

Pension Obligation - Domestic

107.8

94.7

87.7

77.2

72.2

Plan Assets - Domestic

71.6

63.3

64.6

56.6

33.4

Funded Status - Domestic

-36.2

-31.3

-23.1

-20.6

-38.8

Accumulated Obligation - Domestic

107.8

94.7

87.7

77.2

72.2

Total Funded Status

-36.2

-31.3

-23.1

-20.6

-38.8

Discount Rate - Domestic

5.10%

5.50%

6.05%

6.20%

6.55%

Expected Rate of Return - Domestic

8.00%

8.00%

8.00%

8.00%

8.00%

Compensation Rate - Domestic

-

-

0.00%

0.00%

3.14%

Equity % - Domestic

67.00%

62.00%

60.00%

61.00%

56.00%

Debt Securities % - Domestic

28.00%

28.00%

32.00%

31.00%

30.00%

Real Estate % - Domestic

2.00%

10.00%

8.00%

8.00%

14.00%

Other Investments % - Domestic

3.00%

0.00%

-

-

-

Total Plan Obligations

107.8

94.7

87.7

77.2

72.2

Total Plan Assets

71.6

63.3

64.6

56.6

33.4

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2012

Updated Normal 
31-Dec-2009

Reclassified Normal 
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

188.6

-211.6

427.1

578.5

848.4

    Depreciation

76.3

83.5

81.7

83.9

97.7

Depreciation/Depletion

76.3

83.5

81.7

83.9

97.7

    Unusual Items

-33.6

51.0

0.4

-190.1

252.9

    Other Non-Cash Items

64.6

545.0

188.8

113.9

160.1

Non-Cash Items

30.9

596.0

189.3

-76.2

413.0

    Accounts Receivable

-226.6

1.2

-399.5

66.3

331.9

    Other Assets

-205.9

-328.1

-107.6

1,556.8

-169.8

    Accounts Payable

613.3

284.7

543.6

-1,521.0

4.7

    Accrued Expenses

69.4

178.9

9.0

-41.4

-110.3

    Payable/Accrued

137.9

-26.3

86.6

-21.5

-50.7

Changes in Working Capital

388.2

110.2

132.1

39.3

5.6

Cash from Operating Activities

684.0

578.2

830.1

625.5

1,364.8

 

 

 

 

 

 

    Purchase of Fixed Assets

-21.7

-39.6

-25.3

-53.8

-75.2

Capital Expenditures

-21.7

-39.6

-25.3

-53.8

-75.2

    Acquisition of Business

0.0

-41.8

-14.3

0.0

0.0

    Sale of Fixed Assets

2.6

1.3

1.8

-

-

    Sale/Maturity of Investment

0.8

3.5

4.3

6.9

43.2

    Purchase of Investments

-0.1

-0.1

-0.1

-10.4

-22.2

Other Investing Cash Flow Items, Total

3.3

-37.1

-8.2

-3.5

21.0

Cash from Investing Activities

-18.3

-76.7

-33.5

-57.2

-54.2

 

 

 

 

 

 

    Other Financing Cash Flow

-238.6

-214.8

-252.9

-31.0

27.2

Financing Cash Flow Items

-238.6

-214.8

-252.9

-31.0

27.2

    Cash Dividends Paid - Common

-321.4

-476.5

-495.1

-464.7

-1,019.7

Total Cash Dividends Paid

-321.4

-476.5

-495.1

-464.7

-1,019.7

        Sale/Issuance of Common

4.4

4.8

4.9

4.9

4.9

    Common Stock, Net

1.2

-1.7

-3.6

4.9

4.9

Issuance (Retirement) of Stock, Net

1.2

-1.7

-3.6

4.9

4.9

    Short Term Debt, Net

-0.2

-38.6

15.3

-16.9

-11.5

    Long Term Debt, Net

-123.3

219.4

-24.2

-36.8

-260.1

Issuance (Retirement) of Debt, Net

-123.5

180.7

-9.0

-53.6

-271.7

Cash from Financing Activities

-682.2

-512.2

-760.6

-544.5

-1,259.2

 

 

 

 

 

 

Foreign Exchange Effects

5.1

-0.7

0.0

37.9

-75.2

Net Change in Cash

-11.5

-11.5

36.0

61.6

-23.8

 

 

 

 

 

 

Net Cash - Beginning Balance

638.7

650.2

614.2

552.6

576.4

Net Cash - Ending Balance

627.2

638.7

650.2

614.2

552.6

Cash Interest Paid

4.8

3.0

3.7

5.4

47.9

Cash Taxes Paid

10.1

29.5

43.1

64.1

132.5

 

 

Annual Income Statement

 

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2011

Reclassified Normal 
31-Dec-2010

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Investment advisory and services fees

1,772.3

1,916.4

2,051.7

1,920.3

2,839.5

    Distribution revenues

401.7

351.6

338.6

277.3

378.4

    Bernstein research services

413.7

437.4

430.5

434.6

471.7

    Dividend and interest income

21.3

21.5

22.9

26.7

91.8

    Investment gains (losses)

29.2

-82.1

-1.4

144.4

-349.2

    Other revenues

101.8

107.6

109.8

107.8

118.4

    Interest expense

-3.2

-2.6

-3.5

-4.4

-36.5

Total Revenue

2,736.7

2,749.9

2,948.6

2,906.9

3,514.2

 

 

 

 

 

 

    Deferred compensation charge

0.0

587.1

0.0

0.0

-

    Employee compensation and benefits

1,168.6

1,246.9

1,320.5

1,297.8

1,454.7

    Distribution-related payments

367.1

302.7

286.7

234.2

307.9

    Amortization of deferred sales commissio

40.3

37.7

47.4

54.9

79.1

    Other

202.2

219.2

193.8

176.7

200.4

    Real estate charges

223.0

7.2

101.7

8.3

0.0

    General and administrative

508.4

533.6

516.2

520.4

512.8

    Interest on borrowings

3.4

2.5

2.1

2.7

13.1

    Amortization of intangible assets

21.4

21.4

21.3

21.1

20.7

Total Operating Expense

2,534.4

2,958.4

2,489.7

2,316.1

2,588.7

 

 

 

 

 

 

    Non-operating income

0.0

0.0

6.8

33.7

18.7

Net Income Before Taxes

202.4

-208.5

465.6

624.5

944.2

 

 

 

 

 

 

Provision for Income Taxes

13.8

3.1

38.5

46.0

95.8

Net Income After Taxes

188.6

-211.6

427.1

578.5

848.4

 

 

 

 

 

 

    Net income of consolidated entities attr

0.3

36.8

15.3

-22.4

-9.2

Net Income Before Extra. Items

188.9

-174.8

442.4

556.1

839.2

Net Income

188.9

-174.8

442.4

556.1

839.2

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

188.9

-174.8

442.4

556.1

839.2

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

188.9

-174.8

442.4

556.1

839.2

 

 

 

 

 

 

Basic Weighted Average Shares

277.7

278.0

275.4

266.3

261.0

Basic EPS Excluding ExtraOrdinary Items

0.68

-0.63

1.61

2.09

3.22

Basic EPS Including ExtraOrdinary Items

0.68

-0.63

1.61

2.09

3.22

Dilution Adjustment

-

0.0

-

-

-

Diluted Net Income

188.9

-174.8

442.4

556.1

839.2

Diluted Weighted Average Shares

277.7

278.0

277.1

266.5

261.5

Diluted EPS Excluding ExtraOrd Items

0.68

-0.63

1.60

2.09

3.21

Diluted EPS Including ExtraOrd Items

0.68

-0.63

1.60

2.09

3.21

DPS-Ordinary Shares

1.36

1.38

1.58

1.73

3.87

Gross Dividends - Common Stock

381.5

387.5

440.9

464.7

1,019.7

Normalized Income Before Taxes

202.4

-208.5

465.6

624.5

944.2

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

13.8

3.1

38.5

46.0

95.8

Normalized Income After Taxes

188.6

-211.6

427.1

578.5

848.4

 

 

 

 

 

 

Normalized Inc. Avail to Com.

188.9

-174.8

442.4

556.1

839.2

 

 

 

 

 

 

Basic Normalized EPS

0.68

-0.63

1.61

2.09

3.22

Diluted Normalized EPS

0.68

-0.63

1.60

2.09

3.21

Interest Expenses

3.4

2.5

2.1

2.7

13.1

Rental Expenses

100.4

121.2

121.5

133.6

125.7

Depreciation

52.8

60.9

59.6

61.4

65.6

Amortization of Intangibles

21.4

21.4

21.3

21.1

20.7

    Partnership UBT

2.6

8.7

10.4

2.4

9.9

    Federal

2.4

10.6

2.6

5.6

13.7

    State and local

0.5

1.8

1.4

0.6

1.8

    Foreign

8.9

11.4

25.1

32.0

78.4

Current Tax - Total

14.4

32.5

39.5

40.6

103.8

    Deferred tax expense

-0.6

-29.4

-1.0

5.4

-8.0

Deferred Tax - Total

-0.6

-29.4

-1.0

5.4

-8.0

Income Tax - Total

13.8

3.1

38.5

46.0

95.8

Service cost

-

-

-

-

3.0

Interest cost on projected benefit oblig

4.6

4.6

4.6

4.4

5.0

Expected return on plan assets

-5.0

-5.1

-4.5

-3.1

-4.6

Amortization of transition (asset)

-0.1

-0.1

-0.1

-0.1

-0.1

Recognized actuarial loss

0.8

0.4

0.3

0.4

0.0

Amortization of prior service (credit)

-

-

-

-

-0.4

Curtailment gain recognized

-

-

-

-

-3.5

Domestic Pension Plan Expense

0.4

-0.3

0.3

1.6

-0.7

Qualified Employee Benefit Plans

13.0

13.7

14.6

15.2

24.5

Defined contribution expense - Foreign

6.7

7.7

7.1

7.7

10.6

Total Pension Expense

20.1

21.2

22.0

24.5

34.4

Discount Rate

5.10%

5.50%

6.05%

6.20%

6.55%

Expected long-term rate of return on pla

8.00%

8.00%

8.00%

8.00%

8.00%

Compensation Rate

-

-

-

-

3.14%

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

UpdateType/Date

Updated Normal 
31-Dec-2012

Restated Normal 
31-Dec-2012

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate

1

1

1

1

1

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash and cash equivalents

627.2

638.7

650.2

614.2

552.6

    Cash and securities segregated at marke

1,551.3

1,279.9

1,109.9

985.3

2,572.6

    Brokers and dealers

408.0

291.3

299.3

170.1

251.6

    Brokerage clients

942.0

782.7

747.0

582.2

399.0

    Fees

266.5

266.0

344.3

347.9

378.7

    Allowance

-0.8

-0.8

-0.9

-1.4

-1.5

    Investments: Deferred compensation relat

123.0

176.4

298.7

401.0

305.8

    Private equity investments

-

-

-

172.7

176.8

    Other

609.4

618.9

457.9

201.1

95.2

    Furniture and equipment

525.3

565.0

548.0

544.5

522.9

    Leasehold improvements

273.4

349.0

330.4

348.2

322.8

    Accumulated depreciation

-602.6

-640.8

-578.0

-533.0

-479.9

    Goodwill net

2,954.3

2,954.3

2,939.2

2,893.0

2,893.0

    Intangibles Gross

425.3

424.7

419.2

415.9

414.3

    Accumulated Amortization

-256.1

-234.7

-213.3

-191.9

-170.8

    Adjustment

0.0

-

0.0

-

-

    Deferred sales commissions net

95.4

60.0

76.2

90.2

113.5

    Other assets

173.4

177.9

151.3

174.8

156.8

Total Assets

8,115.1

7,708.4

7,579.4

7,214.9

8,503.5

 

 

 

 

 

 

    Securities sold not yet purchased

63.8

39.3

50.5

31.8

0.2

    Brokers and dealers

220.7

279.7

221.4

120.6

110.5

    Brokerage clients

2,563.1

1,896.0

1,750.7

1,430.8

2,755.1

    AllianceBernstein mutual funds

156.7

122.2

77.2

86.1

195.6

    Accounts payable and accrued expenses

499.1

362.6

422.9

278.4

310.4

    Accrued compensation and benefits

485.2

534.3

338.6

316.3

360.1

    Debt

323.2

444.9

225.0

249.0

284.8

Total Long Term Debt

323.2

444.9

225.0

249.0

284.8

 

 

 

 

 

 

    Minority interests in consolidated subsi

43.5

54.0

124.5

171.6

169.2

Total Liabilities

4,355.3

3,732.9

3,210.8

2,684.6

4,185.8

 

 

 

 

 

 

    General Partner

41.2

42.6

49.0

48.7

45.0

    Limited partners

4,165.5

4,306.8

4,902.9

4,850.6

4,485.6

    Capital contributions receivable from Ge

-8.4

-12.1

-16.0

-19.7

-23.2

    Deferred compensation expense

-389.9

-323.4

-535.4

-327.4

-117.6

    Accumulated other comprehensive income

-48.5

-38.4

-31.8

-21.9

-72.1

Total Equity

3,759.8

3,975.5

4,368.6

4,530.4

4,317.7

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

8,115.1

7,708.4

7,579.4

7,214.9

8,503.5

 

 

 

 

 

 

    S/O-Ordinary Shares

277.6

277.8

278.1

274.7

263.7

Total Common Shares Outstanding

277.6

277.8

278.1

274.7

263.7

T/S-Ordinary Shares

0.0

0.0

0.0

0.0

0.0

Accumulated Amortization of Intanglibles

256.1

234.7

213.3

191.9

170.8

Full Time Employees

3,318

3,764

4,256

4,369

4,997

Number of Common Shareholders

456

462

504

507

498

Operating Leases Maturing within 1 Year

139.4

148.2

140.7

126.2

127.3

Operating Leases Maturing within 2 Years

136.0

148.9

149.5

133.7

131.8

Operating Leases Maturing within 3 Years

136.2

149.7

148.7

142.8

133.0

Operating Leases Maturing within 4 Years

135.6

151.6

148.2

143.2

136.3

Operating Leases Maturing within 5 Years

136.9

151.5

144.5

142.8

136.4

Operating Leases - Remaining Maturities

1,084.4

1,336.1

1,350.0

1,702.3

1,783.6

Total Operating Leases, Supplemental

1,768.5

2,086.0

2,081.6

2,391.0

2,448.4

Pension Obligation - Domestic

107.8

94.7

87.7

77.2

72.2

Plan Assets - Domestic

71.6

63.3

64.6

56.6

33.4

Funded Status - Domestic

-36.2

-31.3

-23.1

-20.6

-38.8

Accumulated Obligation - Domestic

107.8

94.7

87.7

77.2

72.2

Total Funded Status

-36.2

-31.3

-23.1

-20.6

-38.8

Discount Rate - Domestic

5.10%

5.50%

6.05%

6.20%

6.55%

Expected Rate of Return - Domestic

8.00%

8.00%

8.00%

8.00%

8.00%

Compensation Rate

-

-

0.00%

0.00%

3.14%

Equity securities

67.00%

62.00%

60.00%

61.00%

56.00%

Debt securities

28.00%

28.00%

32.00%

31.00%

30.00%

Real Estate

2.00%

10.00%

8.00%

8.00%

14.00%

Other

3.00%

0.00%

-

-

-

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2012

Updated Normal 
31-Dec-2009

Reclassified Normal 
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

188.6

-211.6

427.1

578.5

848.4

    Depreciation

76.3

83.5

81.7

83.9

97.7

    Amortization of deferred sales commissio

40.3

37.7

47.4

54.9

79.1

    Amortization of deferred compensation

21.8

474.1

122.6

73.1

66.1

    Real estate asset write-off charges

41.5

4.6

25.5

3.2

0.0

    Unrealized (gains) losses on other inves

-40.5

23.5

-10.4

-

-

    Unrealized loss (gain) on consolidated v

-18.2

39.0

39.5

-5.8

-1.8

    Unrealized losses (gains) on deferred

-15.4

12.0

-39.1

-184.4

254.7

    Other, net

1.6

5.1

3.7

-17.3

14.9

    Segregated cash and securities

-271.5

-170.0

-124.6

1,587.2

-132.8

    Decrease in receivables

-226.6

1.2

-399.5

66.3

331.9

    Trading investments

136.9

-110.6

24.1

19.8

-34.2

    Deferred sales commissions

-75.7

-21.5

-33.4

-31.6

-9.1

    Other assets

4.4

-26.0

26.2

-18.6

6.2

    (Decrease) increase in payables

613.3

284.7

543.6

-1,521.0

4.7

    Accounts payable & Accrued expenses

137.9

-26.3

86.6

-21.5

-50.7

    Accrued compensation & benefits

69.4

178.9

9.0

-41.4

-110.3

Cash from Operating Activities

684.0

578.2

830.1

625.5

1,364.8

 

 

 

 

 

 

    Purchases of investments

-0.1

-0.1

-0.1

-10.4

-22.2

    Proceeds from sales of investments

0.8

3.5

4.3

6.9

43.2

    Purchase of alternative investments grou

0.0

-41.8

-14.3

0.0

0.0

    Capital Expenditures

-21.7

-39.6

-25.3

-53.8

-75.2

    Proceeds from sales of furniture, equipm

2.6

1.3

1.8

-

-

Cash from Investing Activities

-18.3

-76.7

-33.5

-57.2

-54.2

 

 

 

 

 

 

    Repayment of commercial paper net of pr

-123.3

219.4

-24.2

-36.8

-260.1

    Increase (decrease) in overdrafts payabl

-0.2

-38.6

15.3

-16.9

-11.5

    (Distributions to) contributions from no

-10.2

-1.1

-35.0

-24.2

26.5

    Distributions to Joint Venture Partners

-

-

-

0.0

-10.4

    Cash distributions to General Partner an

-321.4

-476.5

-495.1

-464.7

-1,019.7

    Capital contributions from General Partn

4.4

4.8

4.9

4.9

4.9

    Additional investment by Holding with pr

0.0

1.5

8.3

0.0

13.5

    Other

0.0

0.0

-0.1

0.1

0.0

    Debt issuance costs

-1.9

-0.1

-1.9

0.0

0.0

    Purchase of AllianceBernstein Units

-3.2

-6.5

-8.5

0.0

0.0

    Purchases of Holding Units to fund defer

-238.0

-220.8

-226.4

-7.0

-2.4

    Additional investments by Holding from d

11.6

5.7

2.2

-

-

Cash from Financing Activities

-682.2

-512.2

-760.6

-544.5

-1,259.2

 

 

 

 

 

 

Foreign Exchange Effects

5.1

-0.7

0.0

37.9

-75.2

Net Change in Cash

-11.5

-11.5

36.0

61.6

-23.8

 

 

 

 

 

 

Net Cash - Beginning Balance

638.7

650.2

614.2

552.6

576.4

Net Cash - Ending Balance

627.2

638.7

650.2

614.2

552.6

    Cash Interest Paid

4.8

3.0

3.7

5.4

47.9

    Cash Taxes Paid

10.1

29.5

43.1

64.1

132.5

 

 

Financial Health

 

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Key Indicators USD (mil)

 

Quarter
Ending
30-Jun-2013

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2012

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue 

734.3

14.34%

2,736.7

-0.48%

-1.99%

-9.57%

Operating Income 

136.7

73.54%

202.4

-

-30.03%

-31.97%

Income Available to Common Excl Extraord Items 

120.7

62.72%

188.9

-

-30.23%

-31.59%

Basic EPS Excl Extraord Items 

0.43

62.51%

0.68

-

-31.20%

-32.49%

Capital Expenditures 

8.7

-22.19%

21.7

-45.31%

-26.15%

-30.91%

Cash from Operating Activities 

110.7

-53.96%

684.0

18.30%

3.03%

-10.86%

Free Cash Flow 

102.1

-55.50%

662.3

22.97%

5.03%

-9.28%

Total Assets 

7,301.8

-3.00%

8,115.1

5.28%

4.00%

-2.83%

Total Liabilities 

3,416.0

-1.85%

4,355.3

16.67%

17.50%

-2.04%

Total Long Term Debt 

346.3

25.49%

323.2

-27.36%

9.08%

-9.55%

Employees 

-

-

3318

-11.85%

-8.76%

-9.87%

Total Common Shares Outstanding 

278.4

0.27%

277.6

-0.09%

0.35%

1.29%

Key Ratios

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Profitability

Gross Margin 

86.07%

88.54%

89.90%

91.63%

90.93%

Operating Margin 

7.39%

-7.58%

15.56%

20.33%

26.34%

Pretax Margin 

7.39%

-7.58%

15.79%

21.48%

26.87%

Net Profit Margin 

6.90%

-6.36%

15.00%

19.13%

23.88%

Financial Strength

Long Term Debt/Equity 

0.09

0.11

0.05

0.06

0.07

Total Debt/Equity 

0.09

0.11

0.05

0.06

0.07

Management Effectiveness

Return on Assets 

2.38%

-2.77%

5.77%

7.36%

9.49%

Return on Equity 

4.94%

-4.24%

10.05%

12.71%

19.14%

Efficiency

Receivables Turnover 

1.85

2.02

2.37

2.73

2.64

Asset Turnover 

0.35

0.36

0.40

0.37

0.39

 

 

Annual Ratios

 

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Financial Strength

Long Term Debt/Equity 

0.09

0.11

0.05

0.06

0.07

Total Debt/Equity 

0.09

0.11

0.05

0.06

0.07

Long Term Debt/Total Capital 

0.08

0.10

0.05

0.05

0.06

Total Debt/Total Capital 

0.08

0.10

0.05

0.05

0.06

Payout Ratio 

199.94%

-219.54%

98.36%

82.84%

120.34%

Effective Tax Rate 

6.80%

-

8.27%

7.36%

10.15%

Total Capital 

4,082.9

4,420.4

4,593.6

4,779.3

4,602.4

 

 

 

 

 

 

Efficiency

Asset Turnover 

0.35

0.36

0.40

0.37

0.39

Receivables Turnover 

1.85

2.02

2.37

2.73

2.64

Days Receivables Outstanding 

197.05

181.12

154.04

133.52

138.21

Revenue/Employee 

824,815

730,577

692,800

665,342

703,254

Operating Income/Employee 

60,990

-55,385

107,815

135,232

185,211

EBITDA/Employee 

83,339

-33,515

126,834

154,121

202,485

 

 

 

 

 

 

Profitability

Gross Margin 

86.07%

88.54%

89.90%

91.63%

90.93%

Operating Margin 

7.39%

-7.58%

15.56%

20.33%

26.34%

EBITDA Margin 

10.10%

-4.59%

18.31%

23.16%

28.79%

EBIT Margin 

7.39%

-7.58%

15.56%

20.33%

26.34%

Pretax Margin 

7.39%

-7.58%

15.79%

21.48%

26.87%

Net Profit Margin 

6.90%

-6.36%

15.00%

19.13%

23.88%

COGS/Revenue 

13.41%

11.01%

9.72%

8.06%

8.76%

SG&A Expense/Revenue 

78.29%

95.70%

73.92%

70.80%

63.94%

 

 

 

 

 

 

Management Effectiveness

Return on Assets 

2.38%

-2.77%

5.77%

7.36%

9.49%

Return on Equity 

4.94%

-4.24%

10.05%

12.71%

19.14%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share 

2.39

1.94

2.89

2.08

4.89

Operating Cash Flow/Share  

2.46

2.08

2.98

2.28

5.18

 

 

Standard & Poors

United States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks, Rising Debt Burden; Outlook Negative

Publication date: 05-Aug-2011 20:13:14 EST


 

         We have lowered our long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA' and affirmed the 'A-1+' short-term rating.

         We have also removed both the short- and long-term ratings from CreditWatch negative.

         The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics.

         More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.

         Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon.

         The outlook on the long-term rating is negative. We could lower the long-term rating to 'AA' within the next two years if we see that less reduction in spending than agreed to, higher interest rates, or new fiscal pressures during the period result in a higher general government debt trajectory than we currently assume in our base case.

TORONTO (Standard & Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services said today that it lowered its long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA'. Standard & Poor's also said that the outlook on the long-term rating is negative. At the same time, Standard & Poor's affirmed its 'A-1+' short-term rating on the U.S. In addition, Standard & Poor's removed both ratings from CreditWatch, where they were placed on July 14, 2011, with negative implications.

 

The transfer and convertibility (T&C) assessment of the U.S.--our assessment of the likelihood of official interference in the ability of U.S.-based public- and private-sector issuers to secure foreign exchange for

debt service--remains 'AAA'.

 

We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process. We also believe that the fiscal consolidation plan that Congress and the Administration agreed to this week falls short of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade.

 

Our lowering of the rating was prompted by our view on the rising public debt burden and our perception of greater policymaking uncertainty, consistent with our criteria (see "Sovereign Government Rating Methodology and Assumptions ," June 30, 2011, especially Paragraphs 36-41). Nevertheless, we view the U.S. federal government's other economic, external, and monetary credit attributes, which form the basis for the sovereign rating, as broadly unchanged.

 

We have taken the ratings off CreditWatch because the Aug. 2 passage of the Budget Control Act Amendment of 2011 has removed any perceived immediate threat of payment default posed by delays to raising the government's debt ceiling. In addition, we believe that the act provides sufficient clarity to allow us to evaluate the likely course of U.S. fiscal policy for the next few years.

 

The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year's wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently. Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements,

the containment of which we and most other independent observers regard as key to long-term fiscal sustainability.

 

Our opinion is that elected officials remain wary of tackling the structural issues required to effectively address the rising U.S. public debt burden in a manner consistent with a 'AAA' rating and with 'AAA' rated sovereign peers (see Sovereign Government Rating Methodology and Assumptions," June 30, 2011, especially Paragraphs 36-41). In our view, the difficulty in framing a consensus on fiscal policy weakens the government's ability to manage public finances and diverts attention from the debate over how to achieve more balanced and dynamic economic growth in an era of fiscal stringency and private-sector deleveraging (ibid). A new political consensus might (or might not) emerge after the 2012 elections, but we believe that by then, the government debt burden will likely be higher, the needed medium-term fiscal adjustment potentially greater, and the inflection point on the U.S. population's demographics and other age-related spending drivers closer at hand (see "Global Aging 2011: In The U.S., Going Gray Will Likely Cost Even More Green, Now," June 21, 2011).

 

Standard & Poor's takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.'s finances on a sustainable footing.

 

The act calls for as much as $2.4 trillion of reductions in expenditure growth over the 10 years through 2021. These cuts will be implemented in two steps: the $917 billion agreed to initially, followed by an additional $1.5 trillion that the newly formed Congressional Joint Select Committee on Deficit Reduction is supposed to recommend by November 2011. The act contains no measures to raise taxes or otherwise enhance revenues, though the committee could recommend them.

 

The act further provides that if Congress does not enact the committee's recommendations, cuts of $1.2 trillion will be implemented over the same time period. The reductions would mainly affect outlays for civilian discretionary spending, defense, and Medicare. We understand that this fall-back mechanism is designed to encourage Congress to embrace a more balanced mix of expenditure savings, as the committee might recommend.

 

We note that in a letter to Congress on Aug. 1, 2011, the Congressional Budget Office (CBO) estimated total budgetary savings under the act to be at least $2.1 trillion over the next 10 years relative to its baseline assumptions. In updating our own fiscal projections, with certain modifications outlined below, we have relied on the CBO's latest "Alternate Fiscal Scenario" of June 2011, updated to include the CBO assumptions contained in its Aug. 1 letter to Congress. In general, the CBO's "Alternate Fiscal Scenario" assumes a continuation of recent Congressional action overriding existing law.

 

We view the act's measures as a step toward fiscal consolidation. However, this is within the framework of a legislative mechanism that leaves open the details of what is finally agreed to until the end of 2011, and Congress and the Administration could modify any agreement in the future. Even assuming that at least $2.1 trillion of the spending reductions the act envisages are implemented, we maintain our view that the U.S. net general government debt burden (all levels of government combined, excluding liquid financial assets) will likely continue to grow. Under our revised base case fiscal scenario--which we consider to be consistent with a 'AA+' long-term rating and a negative outlook--we now project that net general government debt would rise from an estimated 74% of GDP by the end of 2011 to 79% in 2015 and 85% by 2021. Even the projected 2015 ratio of sovereign indebtedness is high in relation to those of peer credits and, as noted, would continue to rise under the act's revised policy settings.

 

Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade.

 

Our revised upside scenario--which, other things being equal, we view as consistent with the outlook on the 'AA+' long-term rating being revised to stable--retains these same macroeconomic assumptions. In addition, it incorporates $950 billion of new revenues on the assumption that the 2001 and 2003 tax cuts for high earners lapse from 2013 onwards, as the Administration is advocating. In this scenario, we project that the net general government debt would rise from an estimated 74% of GDP by the end of 2011 to 77% in 2015 and to 78% by 2021.

 

Our revised downside scenario--which, other things being equal, we view as being consistent with a possible further downgrade to a 'AA' long-term rating--features less-favorable macroeconomic assumptions, as outlined below and also assumes that the second round of spending cuts (at least $1.2 trillion) that the act calls for does not occur. This scenario also assumes somewhat higher nominal interest rates for U.S. Treasuries. We still believe that the role of the U.S. dollar as the key reserve currency confers a government funding advantage, one that could change only slowly over time, and that Fed policy might lean toward continued loose monetary policy at a time of fiscal tightening. Nonetheless, it is possible that interest rates could rise if investors re-price relative risks. As a result, our alternate scenario factors in a 50 basis point (bp)-75 bp rise in 10-year bond yields relative to the base and upside cases from 2013 onwards. In this scenario, we project the net public debt burden would rise from 74% of GDP in 2011 to 90% in 2015 and to 101% by 2021.

 

Our revised scenarios also take into account the significant negative revisions to historical GDP data that the Bureau of Economic Analysis announced on July 29. From our perspective, the effect of these revisions underscores two related points when evaluating the likely debt trajectory of the U.S. government. First, the revisions show that the recent recession was deeper than previously assumed, so the GDP this year is lower than previously thought in both nominal and real terms. Consequently, the debt burden is slightly higher. Second, the revised data highlight the sub-par path of the current economic recovery when compared with rebounds following previous post-war recessions. We believe the sluggish pace of the current economic recovery could be consistent with the experiences of countries that have had financial crises in which the slow process of debt deleveraging in the private sector leads to a persistent drag on demand. As a result, our downside case scenario assumes relatively modest real trend GDP growth of 2.5% and inflation of near 1.5% annually going forward.

 

When comparing the U.S. to sovereigns with 'AAA' long-term ratings that we view as relevant peers--Canada, France, Germany, and the U.K.--we also observe, based on our base case scenarios for each, that the trajectory of the U.S.'s net public debt is diverging from the others. Including the U.S., we estimate that these five sovereigns will have net general government debt to GDP ratios this year ranging from 34% (Canada) to 80% (the U.K.), with the U.S. debt burden at 74%. By 2015, we project that their net public debt to GDP ratios will range between 30% (lowest, Canada) and 83% (highest, France), with the U.S. debt burden at 79%. However, in contrast with the U.S., we project that the net public debt burdens of these other sovereigns will begin to decline, either before or by 2015.

 

Standard & Poor's transfer T&C assessment of the U.S. remains 'AAA'. Our T&C assessment reflects our view of the likelihood of the sovereign restricting other public and private issuers' access to foreign exchange needed to meet debt service. Although in our view the credit standing of the U.S. government has deteriorated modestly, we see little indication that official interference of this kind is entering onto the policy agenda of either Congress or the Administration. Consequently, we continue to view this risk as being highly remote.

 

The outlook on the long-term rating is negative. As our downside alternate fiscal scenario illustrates, a higher public debt trajectory than we currently assume could lead us to lower the long-term rating again. On the other hand, as our upside scenario highlights, if the recommendations of the Congressional Joint Select Committee on Deficit Reduction--independently or coupled with other initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high earners--lead to fiscal consolidation measures beyond the minimum mandated, and we believe they are likely to slow the deterioration of the government's debt dynamics, the long-term rating could stabilize at 'AA+'.

 

 


FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.65.86

UK Pound

1

Rs.102.52

Euro

1

Rs.87.06

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SCs credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.