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Bernstein Private Wealth Management Plans for Inorganic Growth with New Leadership Appointments

1. Bernstein plans UHNW expansion with new leadership appointments. 2. Targeted recruitment of wealth advisors and RIA acquisitions are key strategies. 3. Craig Storch and Neel Ray to lead growth initiatives; Marshall Butler focuses on marketing. 4. Momentum in UHNW segment noted; new office opened in New York City. 5. Company employs a holistic approach to wealth management, aiming for differentiated services.

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Why Bullish?

The strategic appointment of experienced leaders enhances Bernstein's growth potential, possibly increasing investor confidence. Historically, similar leadership changes lead to improved performance in financial firms, as seen with major players post-restructuring.

How important is it?

The leadership changes and focus on UHNW markets are crucial for AB's growth narrative, significantly influencing investor sentiment and stock performance.

Why Long Term?

The investments in leadership and expansion strategies align with long-term growth, particularly in lucrative UHNW markets. Successful execution could result in increased market share and profitability over the next few years.

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- New positions will support Bernstein's UHNW expansion in priority US Markets - , /PRNewswire/ -- Bernstein Private Wealth Management ("Bernstein"), a unit of AllianceBernstein L.P. (NYSE: AB), today announced three new leaders to support its strategy for inorganic growth and ultrahigh-net-worth (UHNW) expansion. This news follows the buildout of Bernstein's ultrahigh-net-worth service team announced in January 2024. Bernstein aims to further its growth and UHNW expansion with inorganic efforts including targeted recruiting of experienced wealth advisors in strategic markets and selectively acquiring registered investment advisors (RIAs). In line with this inorganic growth plan, Bernstein has elevated existing private wealth leadership talent while adding new executive hires. Craig Storch, a 25-year Bernstein veteran, will expand his existing national leadership responsibilities as a Senior Managing Director for Growth Strategies. Storch will team with Neel Ray, a newly appointed Senior National Director on the Growth Strategies team. In addition, Marshall Butler was recently hired as Bernstein's Head of Marketing. Ray, Storch, and Butler report to Aaron Bates, Head of Ultrahigh-Net-Worth and Growth Strategies. Onur Erzan, Head of the Global Client Group and Private Wealth at AllianceBernstein commented: "We see consistent growth across our private wealth business and our UHNW segment has notable momentum.  Leveraging the resources of our global asset manager, Bernstein offers experienced wealth advisors a truly differentiated platform to scale their practices and improve their client outcomes. We excel in organic talent development and are open to bringing on experienced advisors to drive further business growth." "At Bernstein, our success over more than 50 years has been built on exceptional, organic talent development," said Bates. "Our new inorganic growth plan complements that success as we continue to expand our UHNW platform in priority markets across the US." Bates added, "We offer advisors an uncommonly attractive platform to efficiently scale their practice and help their clients navigate the complexities of significant wealth. Our new hires and acquisitions will be thoughtful and intentional, based on several factors including a cultural fit and fiduciary mindset." Storch boasts over 25 years at Bernstein in various leadership capacities, including as Principal and Wealth Advisor for high-net-worth families and institutions in the US and around the world. Storch previously oversaw the Miami, Tampa, and Atlanta offices.  Ray brings over 25 years of experience in mergers and acquisitions to Bernstein. He previously served as the Head of Corporate Development at both World Investment Advisors and Envestnet. He has held senior corporate development roles at TD Ameritrade, TIAA, and Bank of America Merrill Lynch. Butler brings over 20 years of marketing and communications expertise to the firm. He will focus on enabling advisor success, elevating the client experience, and building the Bernstein brand as a wealth management leader. Prior to joining Bernstein, Butler held senior marketing and communications leadership roles at Wells Fargo and BlackRock. With the renewed focus and expansion, Bernstein will continue to introduce bespoke solutions tailored to the needs of UHNW clients including family offices and global families. The firm also opened a new office at the Spiral in Hudson Yards, New York City in September 2024. About Bernstein Private Wealth Management Bernstein Private Wealth Management advises ultrahigh- and high-net-worth clients on planning for—and living with—the complexities that come with significant wealth. Bernstein is distinguished among major wealth managers by its expertise in navigating life's transitions through a holistic approach. A flexible process—paired with innovative research, sophisticated modeling, and cutting-edge investment solutions—also set Bernstein apart. Headquartered in Nashville, Bernstein is a business unit of AllianceBernstein, which ranks among the largest investment managers in the world, with offices in major world markets across 26 countries and jurisdictions and $803 billion in assets under management. For additional information, visit Bernstein.com. *As of May 31, 2025 Contact: Katrina Clay Director of Communications and Public Relations [email protected]  Prosek Partners [email protected] SOURCE Bernstein Private Wealth Management WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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