The firm with more than £666bn of assets under management worldwide is doubling down on its ambition to increase its UK retail business assets. Its UK retail business is worth around £3.3bn.

And now, Adam Peters, who left Goldman Sachs to become AllianceBernstein’s group head of UK retail distribution, told Citywire: “My goal is to double assets for the UK retail business over a five-year period. [I’m] unashamedly vocal about that… If our clients win, we win.

“My fundamental view is that wealth managers will do business with fewer asset managers,” noting that as discretionary firms consolidate, “they will quite rightly set the bar very high about who they want to let into the room. We need to be able to demonstrate that we’re there as a partner and we’re going to bring capabilities across our business to help you achieve your goals.”

Its primary funds available for sale in the UK are the £14.1bn AB American Income portfolio and the £6.5bn AB American Growth portfolio.

He added: “What I don’t want is our clients just to think of us when they’re going through a fund selection process. I want them to think of us when they’re thinking about market intel, data analytics. This isn’t about one person’s relationship with a fund selector. It’s about our firm helping that firm service their clients and grow their business.”

Mr Peters confirmed the firm maintains a small London-based team of four salespeople targeting the DFM market, as part of the asset manager’s pivot to a consultative approach to wealth management shifting away from purely transactional sales towards more of a “partnership”.

He said: “It’s a bit of a passion project for me. Private markets are no longer purely an institutional conversation,” explaining it is part of their role to educate partners on integration, adding: “I think you should look at distribution teams in the same way, because that looks at long-term strategic partner growth, not short-term asset growth. Call it long-term greedy. Yeah, that’s what we want to be.”