The firm has pledged $50,000 to the American Red Cross and $450,000 as part of a dollar-for-dollar gift matching programme for employees donating to select US-based charities providing relief to the population of Haiti. This is in addition to a $50,000 donation already made by the Alliance Bernstein Foundation, the firm said in a press statement.

“The devastation of an impoverished nation is a calamity that requires nothing short of a global response,” said Peter Kraus, chairman and CEO of Alliance Bernstein. “Many of our employees have voiced a desire to help the victims in Haiti, and the firm is teaming up with them in this cause,” he added.