- AllianceBernstein announced it would be moving its NYC global headquarters to Nashville in 2018.
- The company has more than 1,000 employees in its Nashville office and is aiming for 1,250.
- Insider got an exclusive look at the new space, which features an outdoor deck and 250 meeting spaces.
Since the pandemic, its become routine for financial services companies to relocate or expand their presence in parts of the country like Florida and Texas. But in May 2018, AllianceBernstein shocked Wall Street when it announced plans to relocate its Midtown Manhattan headquarters to Tennessee.
Now, with the pandemic in the rear-view mirror, the asset-manager, which was rebranded as AB in 2015, is showing off the space for the first time, including its wrap-around deck and high tech conference rooms.
AB has invested $11.4 million in the new Nashville headquarters, where it’s leasing 221,000 square feet across eight floors at an office tower at 501 Commerce, Fifth + Broadway.
The company has moved 1,000 of its targeted 1,250 employees to the new location. But the move hasn’t always been easy due to the spread of the coronavirus.
During the fall, AB attempted a soft open for its employees to come in and set up their desks.
“Covid was still underway,” said Kate Burke, chief operating officer of AB. “We had started trying to get people back in and the Omicron hit and slowed it all back down.”
So it wasn’t until the middle of February, following the Omicron scare, that people started to make their way into the new space, she told Insider. The company now expects to wrap up its relocation by the end of 2024.
Employees of the Nashville headquarters have a hybrid work schedule: three days in the office and two days remote.
“We’re really trying to continue to listen to the employees and their experience and what’s working and what’s not,” Burke said.
Burke moved her family to Nashville from New York City, a place that holds sentimental value for her, during the height of the pandemic. She spent most of her adult life working in New York and all of her children were born in the city.
“It was definitely a very significant change, with a pandemic, adding another level of complexity that was not in our original plan,” she said. “But that being said, we’ve really embraced what Nashville has had to offer.”
In particular, Nashville’s arts, music, food scene, and easier access to the outdoors have been Burke’s favorite highlights.
So far, employees within the company’s technology departments and corporate functions are housed in the Nashville office, along with an increasing number of investment personnel. It also has a new office for its private wealth channel.
The move to Nashville has also allowed AB to recruit from universities they wouldn’t have historically looked at in the past, including Middle Tennessee State University, Tennessee State University, Vanderbilt University, and Georgia Institute of Technology, Burke said.
She said she’s most excited for the people AB has hired in Nashville to return to the office.
“They get to experience the things that make AB great, which is the people and the culture and the work that we do for our clients in-person,” she said.
Here’s a peek at AB’s new office, where employees have access to panoramic views of Nashville’s Central Business District and the Cumberland River, access to a gym and
rooms, and food from local Nashville businesses.