Alliance Capital Management Holding L.P. (Alliance Holding) conducts its diversified investment management services business through Alliance Capital Management L.P. (Alliance Capital). Alliance Capital Management Corporation, an indirect wholly owned subsidiary of AXA Financial, Inc., is the general partner of both Alliance Holding and Alliance Capital. Alliance Capital provides diversified investment management and related services globally to a broad range of clients including institutional investors, private clients, individual investors and institutional investors. Alliance Capital also provides a broad offering of investment products, global in scope, with expertise in both growth- and value-oriented strategies, coupled with a fixed income capability in both taxable and tax-exempt securities. Alliance Capital operates in four business segments: Institutional Investment Management Services, Private Client Services, Retail Services and Institutional Research Services.