The firm’s capital markets division proved to be a primary engine for growth, with revenue climbing 25% to reach $477 million. Investment banking activity served as a particular highlight, surging 40% to $285 million, as companies navigated geopolitical instability to pursue strategic acquisitions under a more favorable regulatory climate.
Simultaneously, the company’s private client group bolstered its bottom line, with assets under administration hitting a record $1.86 trillion, an 18% increase year-over-year. CEO Paul Shoukry noted that fee-based assets reached an all-time high of $1.15 trillion, providing a stable foundation for the firm’s quarterly performance. Quarterly net revenue for the private client unit rose 14% to $2.84 billion, buoyed by consistent growth in administrative and asset management fees.
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