Net revenues from continuing operations were $109.5 million, compared to $113.4 million in the year-ago period.
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The firm’s asset management division generated pre-tax operating income of $5.4 million for the quarter, up 21% compared to the first quarter of 2012.
The division’s net revenues were $18.3 million, up 10% compared to the year-ago period.
Assets under management (AUM) were $10.2 billion in the first quarter of 2013, compared to $9.1 billion in the year-ago period, the increase in AUM was attributable to the market appreciation of client assets.
The group’s Capital Markets division generated pre-tax operating income of $12.8 million for the quarter, compared to $10.7 million in the first quarters of 2012.
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By GlobalDataFor the first quarter of 2013, the capital markets segment’s net revenues were $91.2 million, down 6% compared to the year-ago period.
