A global asset management firm will build a $70 million corporate headquarters in Nashville, the state announced in a press release Wednesday, May 2.
Tennessee Gov. Bill Haslam, Department of Economic and Community Development Commissioner Bob Rolfe and AllianceBernstein L.P. (AB) officials made the announcement.
The relocation of its company headquarters will create more than 1,000 corporate jobs, including positions in finance, IT, operations, legal, compliance, internal audit, human resources, sales and marketing, WSMV reported.
“Tennessee is home to many world-renowned brands and we’re extremely proud to welcome AllianceBernstein, a global financial leader, to Nashville,” Haslam said in a press release. “Tennessee’s pro-growth policies continue to attract international companies to our state, providing fantastic job opportunities for our citizens. AB’s decision to bring 1,050 corporate office jobs to Nashville is an incredible win for our state and shows that Tennessee will lead in creating high quality jobs.”
Rolfe said in the press release, “Since 2011, Tennessee’s financial industry has grown at the second fastest rate in the Southeast, creating approximately 24,500 jobs.”
The year-long search for a new location started with 30 cities. In the end, Bernstein said Nashville was the clear choice, WSMV reported.
AllianceBernstein’s headquarters are currently in New York City. The firm’s CEO said he hopes the company will be able to call Nashville home by 2020. An exact location has not yet been named.
The financial firm manages approximately $549 billion in assets and employs nearly 3,500 employees in offices across 22 countries.