AllianceBernstein opens new offices in Stamford
Opening marks private wealth manager’s first Connecticut location
STAMFORD — The private wealth management unit of investment manager AllianceBernstein has opened offices in the Shippan section of Stamford, marking the company’s first office location in Connecticut.
Opened Feb. 22, Bernstein Private Wealth Management’s offices cover approximately 5,000 square feet at 290 Harbor Drive in the waterfront Shippan Landing complex. The new space will support the Fairfield County and Westchester County, N.Y.-focused operations of Bernstein, which provides investment-planning advice and services to individuals, families, endowments, foundations and other “financial guardians.”
“Bernstein has been operating in the Connecticut and Westchester markets and building a significant network of client relationships for decades, and we’re excited to deepen our commitment to the local community with a dedicated office presence,” Rick Meyers, head of client and advisory at Bernstein, said in a written statement. “Our clients in the region will continue to enjoy the world-class resources and global reach of our New York operation while having convenient access to our financial advisors in their own backyard.”
Bernstein did not provide a head count of the employees who would be working at 290 Harbor Drive, but the firm said that the new offices would serve as a hub for AllianceBernstein professionals from across the tri-state region and other locations who are working with clients in Fairfield and Westchester counties.
“Some of these professionals are among our staff who currently live in Fairfield County and Westchester County and will be primarily based in our Connecticut office,” said Managing Director Jim Murphy, a Darien resident with more than 20 years of investment experience, who is leading the Stamford offices. “We are also planning to add additional professionals to our Connecticut office over time.”
Murphy also cited the firm’s recent community service and philanthropic initiatives in Fairfield and Westchester Counties. Those efforts include sponsoring the 2022 season at the Levitt Pavilion for the Performing Arts in Westport; having about 20 of its employees participate in a marine-debris clean-up in Stamford in partnership with the nonprofit SoundWaters; and deploying a similar number of employees for a clean-up at the Marshlands Conservancy in Rye, N.Y.
“We look forward to continuing to support the community going forward through these and other activities,” Murphy said.
The firm’s news release about the Stamford offices’ opening also included a statement from Gov. Ned Lamont.
“Connecticut continues to be an emerging hub for the financial services industry, which is why I am thrilled that Bernstein has selected our state as their newest location to grow,” Lamont said.“We welcome Bernstein to Connecticut and wish them many years of success and growth.”
Bernstein Private Wealth Management’s new offices at Shippan Landing complement AllianceBernstein hubs in many other cities across the U.S. and other countries in the Americas, Europe and Asia. Those other locations include AllianceBernstein’s corporate headquarters in Nashville, Tenn., that was unveiled last year, about four years after the announcement that its headquarters would be relocated from midtown Manhattan. The company has, nevertheless, kept those midtown Manhattan offices at 1345 Avenue of the Americas.
As of Jan. 31, AllianceBernstein had about $680 billion in assets under management, including about $112 billion in assets under management by Bernstein Private Wealth Management. As of the end of 2022, AllianceBernstein had about 4,400 employees worldwide.
Other newcomers at 290 Harbor Drive include asset manager Hudson Bay Capital, which has subleased the entire third floor, covering more than 47,000 square feet, from marketing and talent-management firm Octagon.
Last year, the embattled cryptocurrency conglomerate Digital Currency Group opened its headquarters at 290 Harbor Drive. DCG had announced the new location in November 2021, before the recent turmoil that has shaken its industry.
Rubenstein Partners, a coowner of Shippan Landing, also owns 600 Washington Blvd. in downtown Stamford, another local hub for financial services. Investment-manager Viking Global Investors, which is now headquartered in downtown Greenwich, has signed a lease for about 42,000 square feet at 600 Washington. Those new offices are scheduled to open later this year.