AXA Equitable Life on Jan. 14 announced that it will now operate as Equitable, an independent, U.S.-based company. The financial services company has 2.8 million clients in the United States and is a leading 403(b) provider.
Founded in 1859 as The Equitable Life Assurance Society of the United States, the company was a mutual firm serving individuals, families and businesses. It was acquired by Paris-based AXA S.A. in 1992 and served as its U.S. business for nearly three decades.
The Equitable brand will be carried through the company’s subsidiaries, as well as its parent company — which now is Equitable Holdings. In May 2018, Equitable Holdings held its initial public offering; in March 2019, AXA S.A. completed a secondary public offering and exited its position as a majority stakeholder.
“Today we herald the next step in our journey as an independent company,” said Equitable CEO Mark Pearson in a press release. “Our promise is to take a lifelong, holistic view of our clients’ goals, dreams and aspirations so we can help them navigate their unique journeys,” said Equitable President Nick Lane.
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