MutualFundWire.com: This $538B AUM Shop's Move South "Is Epic"

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Thursday, March 14, 2019

This $538B AUM Shop's Move South "Is Epic"

"AllianceBernstein [moving to Nashville] is epic."

Seth P. Bernstein
AllianceBernstein
President, CEO

So argues Ed Fritsch, who the Nashville Business Journal calls that city's "office king," in an interview with the paper. Fundsters wondering about AllianceBernstein's [profile] upcoming HQ move to Nashville from New York City may be intrigued. The way this developer puts it, attracting a big asset manager ($538 billion in AUM as of February 28) is as big a deal as attracting a technology titan.

Fristch is CEO of Highwoods Properties, which according to the Journal owns twice as much office space in the Nashville metro area as anyone else. He commented on Amazon's planned Nashville buildup, too, yet he described AllianceBernstein's planned move as perhaps a bigger deal for the city. For reference, the paper notes that AllianceBernstein will bring 1,050 jobs to Nashville, while Amazon will bring 5,000.

"I've been using this word — and I'm not sure if it's the right one — but I've been calling it epic. AllianceBernstein is epic," Fritsch tells the paper. "Nashville ought to take a breath and realize what it means that a Wall Street firm wants to be in our community."

Printed from: MFWire.com/story.asp?s=59442

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