Greenhill & Co (GHL) 10-Q 5 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 25, 2014
Document Documentand Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Trading Symbol	'GHL	'
Entity Registrant Name	'GREENHILL & CO INC	'
Entity Central Index Key	'0001282977	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	28,312,111

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Financial Condition (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets	'	'
Cash and cash equivalents ($4.9 million and $5.1 million restricted from use at June 30, 2014 and December 31, 2013, respectively)	$29,160	$42,679
Advisory fees receivable, net of allowance for doubtful accounts of $0.0 million at June 30, 2014 and December 31, 2013	74,606	85,236
Other receivables	6,087	2,877
Property and equipment, net of accumulated depreciation of $58.7 million and $57.0 million at June 30, 2014 and December 31, 2013, respectively	11,246	11,500
Investments in merchant banking funds	4,525	11,745
Goodwill	150,075	142,972
Deferred tax asset, net	41,679	54,202
Other assets	4,190	2,235
Total assets	321,568	353,446
Liabilities and Equity	'	'
Compensation payable	10,036	13,851
Accounts payable and accrued expenses	10,516	13,346
Current income taxes payable	6,805	15,345
Bank loan payable	37,450	30,849
Deferred tax liability	903	2,345
Total liabilities	65,710	75,736
Common stock, par value $0.01 per share; 100,000,000 shares authorized, 38,767,519 and 37,872,756 shares issued as of June 30, 2014 and December 31, 2013, respectively; 28,310,803 and 27,767,702 shares outstanding as of June 30, 2014 and December 31, 2013, respectively	388	379
Contingent convertible preferred stock, par value $0.01 per share; 10,000,000 shares authorized and 1,099,877 shares issued as of June 30, 2014 and December 31, 2013 and 439,951 shares outstanding as of June 30, 2014 and December 31, 2013	14,446	14,446
Restricted stock units	74,916	117,258
Additional paid-in capital	588,140	534,533
Exchangeable shares of subsidiary; 257,156 shares issued as of June 30, 2014 and December 31, 2013; 32,804 shares outstanding as of June 30, 2014 and December 31, 2013	1,958	1,958
Retained earnings	133,046	152,412
Accumulated other comprehensive income (loss)	-4,539	-9,361
Treasury stock, at cost, par value $0.01 per share; 10,456,716 and 10,105,054 shares as of June 30, 2014 and December 31, 2013, respectively	-553,191	-534,957
Stockholders’ equity	255,164	276,668
Noncontrolling interests	694	1,042
Total equity	255,858	277,710
Total liabilities and equity	$321,568	$353,446

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Financial Condition (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Cash and cash equivalents, restricted from use	$4.90	$5.10
Advisory fees receivable, allowance for doubtful accounts	0	0
Property and equipment, accumulated depreciation	$58.70	$57
Common stock, par value (usd per share)	$0.01	$0.01
Common stock, shares authorized (shares)	100,000,000	100,000,000
Common stock, shares issued (shares)	38,767,519	37,872,756
Common stock, shares outstanding (shares)	28,310,803	27,767,702
Contingent convertible preferred stock, par value (usd per share)	$0.01	$0.01
Contingent convertible preferred stock, shares authorized (shares)	10,000,000	10,000,000
Contingent convertible preferred stock, shares issued (shares)	1,099,877	1,099,877
Contingent convertible preferred stock, shares outstanding (shares)	439,951	439,951
Exchangeable shares of subsidiary, shares issued (shares)	257,156	257,156
Exchangeable shares of subsidiary, shares outstanding (shares)	32,804	32,804
Treasury stock, par value (usd per share)	$0.01	$0.01
Treasury stock, shares (shares)	10,456,716	10,105,054

Consolidated_Statements_of_Inc

Consolidated Statements of Income (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues	'	'	'	'
Advisory revenues	$63,987	$83,066	$112,442	$164,513
Investment revenues (losses)	-964	3,624	-5,850	1,767
Total revenues	63,023	86,690	106,592	166,280
Expenses	'	'	'	'
Employee compensation and benefits	35,135	45,946	63,978	88,128
Occupancy and equipment rental	4,818	4,330	9,132	8,650
Depreciation and amortization	830	1,024	1,643	2,752
Information services	2,170	1,913	4,199	3,977
Professional fees	1,447	1,639	2,625	2,753
Travel related expenses	3,293	3,237	6,309	6,481
Interest expense	311	247	576	528
Other operating expenses	2,495	2,940	5,242	5,924
Total expenses	50,499	61,276	93,704	119,193
Income before taxes	12,524	25,414	12,888	47,087
Provision for taxes	4,470	9,927	4,596	17,983
Consolidated net income	8,054	15,487	8,292	29,104
Less: Net income allocated to noncontrolling interests	0	0	0	0
Net income allocated to common stockholders	$8,054	$15,487	$8,292	$29,104
Average shares outstanding:	'	'	'	'
Basic (shares)	29,954,291	29,912,161	30,218,513	30,131,291
Diluted (shares)	29,961,023	29,920,179	30,254,549	30,171,500
Earnings per share:	'	'	'	'
Basic (usd per share)	$0.27	$0.52	$0.27	$0.97
Diluted (usd per share)	$0.27	$0.52	$0.27	$0.96
Dividends declared and paid per share (usd per share)	$0.45	$0.45	$0.90	$0.90

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Consolidated net income	$8,054	$15,487	$8,292	$29,104
Currency translation adjustment, net of tax	2,110	-13,145	4,822	-14,603
Comprehensive income	10,164	2,342	13,114	14,501
Less: Net income allocated to noncontrolling interests	0	0	0	0
Comprehensive income allocated to common stockholders	$10,164	$2,342	$13,114	$14,501

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Changes in Equity (USD $)	Total	Common Stock	Contingent Convertible Preferred Stock	Restricted Stock Units	Additional Paid-in Capital	Exchangeable Shares of Subsidiary	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Parent	Noncontrolling Interests
In Thousands, unless otherwise specified
Beginning Balance at Dec. 31, 2012	'	$365	$46,950	$107,253	$458,642	$1,958	$159,918	$6,624	($479,551)	'	$1,353
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'	'	'	'	'
Stock issued	'	14	'	'	77,920	'	'	'	'	'	'
Convertible Preferred Stock Converted to Other Securities	'	'	-32,504	'	'	'	'	'	'	'	'
Restricted stock units recognized, net of forfeitures	'	'	'	56,100	'	'	'	'	'	'	'
Restricted stock units delivered	'	'	'	-46,095	'	'	'	'	'	'	'
Tax (expense) from the delivery of restricted stock units	'	'	'	'	-2,029	'	'	'	'	'	'
Exchangeable shares of subsidiary delivered	'	'	'	'	'	0	'	'	'	'	'
Dividends	'	'	'	'	'	'	-56,225	'	'	'	'
Tax benefit from payment of restricted stock unit dividends	'	'	'	'	'	'	2,037	'	'	'	'
Net income allocated to common stockholders	'	'	'	'	'	'	46,682	'	'	'	'
Currency translation adjustment, net of tax	'	'	'	'	'	'	'	-15,985	'	'	'
Repurchased	'	'	'	'	'	'	'	'	-55,406	'	'
Net income allocated to noncontrolling interests	'	'	'	'	'	'	'	'	'	'	0
Distributions to noncontrolling interests	'	'	'	'	'	'	'	'	'	'	-311
Increases (decreases) in noncontrolling interests	0	'	'	'	'	'	'	'	'	'	'
Ending Balance at Dec. 31, 2013	277,710	379	14,446	117,258	534,533	1,958	152,412	-9,361	-534,957	276,668	1,042
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'	'	'	'	'
Stock issued	'	9	'	'	57,233	'	'	'	'	'	'
Convertible Preferred Stock Converted to Other Securities	'	'	0	'	'	'	'	'	'	'	'
Restricted stock units recognized, net of forfeitures	'	'	'	15,160	'	'	'	'	'	'	'
Restricted stock units delivered	'	'	'	-57,502	'	'	'	'	'	'	'
Tax (expense) from the delivery of restricted stock units	'	'	'	'	-3,626	'	'	'	'	'	'
Exchangeable shares of subsidiary delivered	'	'	'	'	'	0	'	'	'	'	'
Dividends	'	'	'	'	'	'	-28,575	'	'	'	'
Tax benefit from payment of restricted stock unit dividends	'	'	'	'	'	'	917	'	'	'	'
Net income allocated to common stockholders	8,292	'	'	'	'	'	8,292	'	'	'	'
Currency translation adjustment, net of tax	4,822	'	'	'	'	'	'	4,822	'	'	'
Repurchased	'	'	'	'	'	'	'	'	-18,234	'	'
Net income allocated to noncontrolling interests	0	'	'	'	'	'	'	'	'	'	0
Distributions to noncontrolling interests	'	'	'	'	'	'	'	'	'	'	0
Increases (decreases) in noncontrolling interests	-348	'	'	'	'	'	'	'	'	'	'
Ending Balance at Jun. 30, 2014	$255,858	$388	$14,446	$74,916	$588,140	$1,958	$133,046	($4,539)	($553,191)	$255,164	$694

Condensed_Consolidated_Stateme4

Condensed Consolidated Statements of Changes in Equity (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Common stock, par value (usd per share)	$0.01	$0.01
Contingent convertible preferred stock, par value (usd per share)	$0.01	$0.01
Treasury stock, par value (usd per share)	$0.01	$0.01
Common Stock	'	'
Common stock, par value (usd per share)	$0.01	$0.01
Contingent Convertible Preferred Stock	'	'
Contingent convertible preferred stock, par value (usd per share)	$0.01	$0.01
Treasury Stock	'	'
Treasury stock, par value (usd per share)	$0.01	$0.01

Condensed_Consolidated_Stateme5

Condensed Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Operating activities:	'	'
Consolidated net income	$8,292	$29,104
Non-cash items included in consolidated net income:	'	'
Depreciation and amortization	1,643	2,752
Net investment (gains) losses	6,531	-1,217
Restricted stock units recognized and common stock issued	15,160	28,596
Deferred taxes	5,042	2,064
Deferred gain on sale of certain merchant banking assets	-97	-97
Changes in operating assets and liabilities:	'	'
Advisory fees receivable	10,630	-2,571
Other receivables and assets	-5,166	-1,757
Compensation payable	-3,815	-6,070
Accounts payable and accrued expenses	664	1,748
Current income taxes payable	-8,540	-7,197
Net cash provided by operating activities	30,344	45,355
Investing activities:	'	'
Purchases of investments	-28	-500
Proceeds from sales of investments	0	11,751
Distributions from investments	370	922
Purchases of property and equipment	-1,311	-802
Net cash used in investing activities	-969	11,371
Financing activities:	'	'
Proceeds from revolving bank loan	33,851	70,675
Repayment of revolving bank loan	-27,250	-67,550
Distributions to noncontrolling interests	0	-311
Dividends paid	-28,575	-28,121
Purchase of treasury stock	-18,234	-45,631
Payments Related to Tax Withholding for Share-based Compensation	-2,708	-682
Net cash used in financing activities	-42,916	-71,620
Effect of exchange rate changes on cash and cash equivalents	22	-1,897
Net decrease in cash and cash equivalents	-13,519	-16,791
Cash and cash equivalents, beginning of period	42,679	50,324
Cash and cash equivalents, end of period	29,160	33,533
Supplemental disclosure of cash flow information:	'	'
Cash paid for interest	568	427
Cash paid for taxes, net of refunds	$9,878	$24,132

Organization

Organization	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization	'
	Organization
	Greenhill & Co., Inc., a Delaware corporation, together with its subsidiaries (collectively, the “Company”), is a leading independent investment bank focused on providing financial advice on significant mergers, acquisitions, restructurings, financings and capital raisings to corporations, partnerships, institutions and governments. The Company acts for clients located throughout the world from its offices located in the United States, United Kingdom, Germany, Canada, Japan, Australia, Sweden and Brazil.
	The Company's activities as an investment banking firm constitute one business segment, with two principal sources of revenue:
	•	Advisory, which includes engagements relating to mergers and acquisitions, financing advisory and restructuring, and private equity and real estate capital advisory services; and
	•	Investments, which includes the Company's principal investments in certain merchant banking funds and interest income.
	The Company's wholly-owned subsidiaries provide advisory services in various jurisdictions. Our most significant operating entities include: Greenhill & Co., LLC (“G&Co”), Greenhill & Co. International LLP (“GCI”) and Greenhill & Co. Australia Pty Limited (“Greenhill Australia”).
	G&Co is engaged in investment banking activities principally in the United States. G&Co is registered as a broker-dealer with the Securities and Exchange Commission (“SEC”) and the Financial Industry Regulatory Authority (“FINRA”), and is licensed in all 50 states and the District of Columbia. GCI is engaged in investment banking activities in the United Kingdom and is subject to regulation by the U.K. Financial Conduct Authority (“FCA”). Greenhill Australia engages in investment banking activities in Australia and New Zealand and is licensed and subject to regulation by the Australian Securities and Investment Commission (“ASIC”).
	The Company also operates in other locations throughout the world which are subject to regulation by other governmental and regulatory bodies and self-regulatory authorities.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Summary of Significant Accounting Policies
	Basis of Financial Information
	These condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States (U.S. GAAP), which require management to make estimates and assumptions regarding future events that affect the amounts reported in our financial statements and these footnotes, including investment valuations, compensation accruals and other matters. Management believes that the estimates used in preparing its condensed consolidated financial statements are reasonable and prudent. Actual results could differ materially from those estimates.
	The condensed consolidated financial statements of the Company include all consolidated accounts of Greenhill & Co., Inc. and all other entities in which the Company has a controlling interest after eliminations of all significant inter-company accounts and transactions. In accordance with the accounting pronouncements related to consolidation of variable interest entities, the Company consolidates the general partners of certain merchant banking funds in which it has a majority of the economic interest and control. The general partners account for their investments in these merchant banking funds under the equity method of accounting. As such, the general partners record their proportionate shares of income (loss) from the underlying merchant banking funds. As these merchant banking funds follow investment company accounting, and generally record all their assets and liabilities at fair value, the general partners’ investment in these merchant banking funds represents an estimation of fair value. The Company does not consolidate the merchant banking funds since the Company, through its general partner and limited partner interests, does not have a majority of the economic interest in such funds and the limited partners have certain rights to remove the general partner by a simple majority vote of unaffiliated third-party investors.
	These condensed consolidated financial statements are unaudited and should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2013 included in the Company's Annual Report on Form 10-K filed with the SEC. The condensed consolidated financial information as of December 31, 2013 has been derived from audited consolidated financial statements not included herein. The results of operations for interim periods are not necessarily indicative of results for the entire year.
	Revenue Recognition
	Advisory Revenues
	It is the Company's accounting policy to recognize revenue when (i) there is persuasive evidence of an arrangement with a client, (ii) the agreed-upon services have been completed and delivered to the client or the transaction or events noted in the engagement letter are determined to be substantially complete, (iii) fees are fixed and determinable, and (iv) collection is reasonably assured.
	The Company recognizes advisory fee revenues for mergers and acquisitions or financing advisory and restructuring engagements when the services related to the underlying transactions are completed in accordance with the terms of the engagement letter and all other requirements for revenue recognition are satisfied.
	The Company recognizes private equity and real estate capital advisory fees at the time of the client's acceptance of capital or capital commitments to a fund in accordance with the terms of the engagement letter. Generally, fee revenue is determined based upon a fixed percentage of capital committed to the fund. For multiple closings, revenue is recognized at each interim closing based on the amount of capital committed at each closing at the fixed fee percentage. At the final closing, revenue is recognized at the fixed percentage for the amount of capital committed since the last interim closing.
	While the majority of the Company's fee revenue is earned at the conclusion of a transaction or closing of a fund, on-going retainer fees, substantially all of which relate to non-success based strategic advisory and financing advisory and restructuring assignments, are also earned and recognized as advisory fee revenue over the period in which the related service is rendered.
	The Company’s clients reimburse certain expenses incurred by the Company in the conduct of advisory engagements. Expenses are reported net of such client reimbursements. Client reimbursements totaled $1.0 million and $1.6 million for the three months ended June 30, 2014 and 2013, respectively, and $1.7 million and $3.5 million for the six months ended June 30, 2014 and 2013, respectively.
	Investment Revenues
	Investment revenues consist of (i) gains (or losses) on the Company's investments in certain merchant banking funds, Iridium Communications Inc. ("Iridium") (prior to the sale of the Company's entire investment that was completed in December 2013) and other investments and (ii) interest income.
	The Company recognizes revenue on its investments in merchant banking funds based on its allocable share of realized and unrealized gains (or losses) reported by such funds. The Company recognizes revenue on its other investments, including Iridium, after considering the Company's influence or control of the investee, based on gains and losses on investment positions held, which arise from sales or changes in the fair value of investments. The amount of gains or losses are not predictable and can cause periodic fluctuations in net income and therefore subject the Company to market and credit risk.
	Cash and Cash Equivalents
	The Company’s cash and cash equivalents consist of (i) cash held on deposit with financial institutions, (ii) cash equivalents and (iii) restricted cash. The Company maintains its cash and cash equivalents with financial institutions with high credit ratings. The Company considers all highly liquid investments with a maturity date of three months or less, when purchased, to be cash equivalents. Cash equivalents primarily consist of money market funds and overnight deposits.
	Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. See "Note 3 — Cash and Cash Equivalents".
	Advisory Fees Receivables
	Receivables are stated net of an allowance for doubtful accounts. The estimate for the allowance for doubtful accounts is derived by the Company by utilizing past client transaction history and an assessment of the client’s creditworthiness. The Company did not record a charge for bad debt expense for either of the three or six month periods ended June 30, 2014 or 2013.
	Included in the advisory fees receivable balance were $40.1 million and $34.0 million of long term receivables at June 30, 2014 and December 31, 2013, respectively, which relate to private equity and real estate capital advisory engagements that are generally paid in installments over a period of three years.
	Included as a component of investment revenues on the condensed consolidated statements of income is interest income related to capital advisory engagements of $0.2 million for each of the three month periods ended June 30, 2014 and 2013, and $0.4 million and $0.3 million for the six month periods ended June 30, 2014 and 2013, respectively.
	Credit risk related to advisory fees receivable is disbursed across a large number of clients located in various geographic areas. The Company controls credit risk through credit approvals and monitoring procedures but does not require collateral to support accounts receivable.
	Investments
	The Company's investments in merchant banking funds are recorded under the equity method of accounting based upon the Company's proportionate share of the estimated fair value of the underlying merchant banking fund's net assets. The value of merchant banking fund investments in privately held companies is determined by the management of the fund after giving consideration to the cost of the security, the pricing of other sales of securities by the portfolio company, the price of securities of other companies comparable to the portfolio company, purchase multiples paid in other comparable third-party transactions, the original purchase price multiple, market conditions, liquidity, operating results and other qualitative and quantitative factors. Discounts may be applied to the funds' privately held investments to reflect the lack of liquidity and other transfer restrictions. Because of the inherent uncertainty of valuations as well as the discounts applied, the estimated fair values of investments in privately held companies may differ significantly from the values that would have been used had a ready market for the securities existed. The value of merchant banking fund investments in publicly traded securities is determined using quoted market prices discounted for any legal or contractual restrictions on sale. The values at which the Company's investments are carried on its condensed consolidated statements of financial condition are adjusted to estimated fair value at the end of each quarter, and the volatility in general economic conditions, stock markets and commodity prices may result in significant changes in the estimated fair value of the investments from period to period.
	Goodwill
	Goodwill is the cost of acquired companies in excess of the fair value of identifiable net assets at acquisition date. The Company tests its goodwill for impairment at least annually. An impairment loss is triggered if the estimated fair value of an operating unit is less than estimated net book value. Such loss is calculated as the difference between the estimated fair value of goodwill and its carrying value.
	Goodwill is translated at the rate of exchange prevailing at the end of the periods presented in accordance with the accounting guidance for foreign currency translation. Any translation gain or loss is included in the foreign currency translation adjustment, which is included as a component of other comprehensive income in the condensed consolidated statements of changes in equity. At June 30, 2014, goodwill increased by $7.1 million from the beginning of the year as a result of the foreign currency translation adjustment.
	Restricted Stock Units
	The Company accounts for its share-based compensation payments by recording the fair value of restricted stock units granted to employees as compensation expense. The restricted stock units are generally amortized over a five year service period following the date of grant. Compensation expense is determined based upon the fair market value of the Company’s common stock at the date of grant. As the Company expenses the awards, the restricted stock units recognized are recorded within equity. The restricted stock units are reclassified into common stock and additional paid-in capital upon vesting. The Company records as treasury stock the repurchase of stock delivered to its employees in settlement of tax liabilities incurred upon the vesting of restricted stock units. The Company records dividend equivalent payments, net of forfeitures, on outstanding restricted stock units as a dividend payment and a charge to equity.
	Earnings per Share
	The Company calculates basic earnings per share (“EPS”) by dividing net income allocated to common stockholders by the sum of (i) the weighted average number of shares outstanding for the period and (ii) the weighted average number of shares deemed issuable due to the vesting of restricted stock units for accounting purposes. In addition, the outstanding contingent convertible preferred shares will be included in the weighted average number of shares to the extent the performance target is deemed to have been met.
	The Company calculates diluted EPS by dividing net income allocated to common stockholders by the sum of (i) basic shares per above and (ii) the dilutive effect of the common stock deliverable pursuant to restricted stock units for which future service is required. Under the treasury method, the number of shares issuable upon the vesting of restricted stock units included in the calculation of diluted EPS is the excess, if any, of the number of shares expected to be issued, less the number of shares that could be purchased by the Company with the proceeds to be received upon settlement at the average market closing price during the reporting period. See "Note 8 — Earnings per Share".
	Provision for Taxes
	The Company accounts for taxes in accordance with the accounting guidance for income taxes which requires the recognition of tax benefits or expenses on the temporary differences between the financial reporting and tax bases of its assets and liabilities.
	The Company follows the guidance for income taxes in recognizing, measuring, presenting and disclosing in its financial statements uncertain tax positions taken or expected to be taken on its income tax returns. Income tax expense is based on pre-tax accounting income, including adjustments made for the recognition or derecognition related to uncertain tax positions. The recognition or derecognition of income tax expense related to uncertain tax positions is determined under the guidance.
	Deferred tax assets and liabilities are recognized for the future tax attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period of change. Management applies the “more-likely-than-not criteria” when determining tax benefits.
	Foreign Currency Translation
	Assets and liabilities denominated in foreign currencies have been translated at rates of exchange prevailing at the end of the periods presented in accordance with the accounting guidance for foreign currency translation. Income and expenses transacted in foreign currency have been translated at average monthly exchange rates during the period. Translation gains and losses are included in the foreign currency translation adjustment, which is included as a component of other comprehensive income in the condensed consolidated statements of changes in equity. Foreign currency transaction gains and losses are included in the condensed consolidated statements of income.
	Fair Value of Other Financial Instruments
	The Company believes that the carrying values of financial instruments presented in the condensed consolidated statements of financial condition approximate their fair value generally due to their short-term nature and generally negligible credit risk. These fair value measurements would be categorized as Level 2 within the fair value hierarchy.
	Noncontrolling Interests
	The Company records the noncontrolling interests of other entities as equity in the condensed consolidated statements of financial condition. Additionally, the condensed consolidated statements of income separately present income allocated to both noncontrolling interests and common stockholders.
	The portion of the consolidated interests in the general partners of certain of the merchant banking funds not held by the Company is presented as noncontrolling interest in equity. See "Note 4 — Investments — Merchant Banking Funds".
	Property and Equipment
	Property and equipment is stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the life of the assets. Amortization of leasehold improvements is computed using the straight-line method over the lesser of the life of the asset or the remaining term of the lease. Estimated useful lives of the Company’s fixed assets are generally as follows:
	Aircraft – 7 years
	Equipment – 5 years
	Furniture and fixtures – 7 years
	Leasehold improvements – the lesser of 10 years or the remaining lease term
	Accounting Developments
	In May 2014, the FASB issued guidance codified in ASC 606, Revenue Recognition - Revenue from Contracts with Customers, which amends the guidance in former ASC 605, Revenue Recognition. Management is currently evaluating the impact of the future adoption of ASC 606 on the Company’s consolidated financial statements. The new guidance is effective for fiscal years beginning after December 15, 2016.

Cash_and_Cash_Equivalents

Cash and Cash Equivalents	6 Months Ended
	Jun. 30, 2014
Cash and Cash Equivalents [Abstract]	'
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	The carrying values of the Company's cash and cash equivalents are as follows:
		As of June 30,		As of December 31,
		2014		2013
		(in thousands, unaudited)
	Cash	$	23,513	$	34,099
	Cash equivalents	788		3,484
	Restricted cash - deferred compensation plan	535		867
	Restricted cash - letters of credit	4,324		4,229
	Total cash and cash equivalents	$	29,160	$	42,679
	The carrying value of the Company's cash equivalents approximates fair value. Cash is restricted for the payout of Greenhill Australia's deferred compensation plan, which is being distributed over a 7 year period ending in 2016. A deferred compensation liability relating to the plan of $0.5 million and $0.9 million as of June 30, 2014 and December 31, 2013, respectively, has been recorded on the condensed consolidated statements of financial condition as a component of compensation payable.
	Letters of credit are secured by cash held on deposit.

Related_Parties

Related Parties	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Related Parties	'
	Related Parties
	At June 30, 2014 and December 31, 2013, the Company had no amounts receivable or payable to related parties.
	The Company subleases airplane and aircraft hangar space to a firm owned by the Chairman of the Company. The Company recognized rent reimbursements of $19,200 and $18,300 for the three month periods ended June 30, 2014 and 2013, respectively, and $38,400 and $36,600 for the six month periods ended June 30, 2014 and 2013, respectively, which are included as a reduction of occupancy and equipment rental on the condensed consolidated statements of income.

Revolving_Bank_Loan_Facility

Revolving Bank Loan Facility	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Revolving Bank Loan Facility	'
	Revolving Bank Loan Facility
	At June 30, 2014, the Company had a $45.0 million revolving loan facility from a U.S. banking institution to provide for working capital needs and for other general corporate purposes. The loan facility, which was renewed in April 2014, has a maturity date of April 30, 2015. The revolving loan facility is secured by any cash distributed in respect of the Company’s investment in the U.S. based merchant banking funds and cash distributions from G&Co. In addition, the revolving loan facility has a prohibition on the incurrence of additional indebtedness without the prior approval of the lender and the Company is required to comply with certain financial and liquidity covenants. The weighted average daily borrowings outstanding under the revolving loan facility were approximately $35.0 million and $31.8 million for the six months ended June 30, 2014 and 2013, respectively. The weighted average interest rate was 3.25% for the six months ended June 30, 2014 and 2013. At June 30, 2014 and December 31, 2013, the Company was compliant with all loan covenants.

Equity

Equity	6 Months Ended
	Jun. 30, 2014
Stockholders' Equity Note [Abstract]	'
Equity	'
	Equity
	On June 18, 2014, a dividend of $0.45 per share was paid to stockholders of record on June 4, 2014. Dividends include dividend equivalents of $3.1 million, which were paid on outstanding restricted stock units for each of the six months ended June 30, 2014 and 2013.
	During the six months ended June 30, 2014, 892,038 restricted stock units vested and were issued as common stock of which the Company is deemed to have repurchased 351,662 shares at an average price of $51.85 per share in conjunction with the payment of tax liabilities in respect of stock delivered to its employees in settlement of restricted stock units.
	During the six months ended June 30, 2013, 581,546 restricted stock units vested and were issued as common stock of which the Company is deemed to have repurchased 180,667 shares at an average price of $58.69 per share in conjunction with the payment of tax liabilities in respect of stock delivered to its employees in settlement of restricted stock units. In addition, during the six months ended June 30, 2013, the Company repurchased in open market transactions 701,367 shares of its common stock at an average price of $49.94 per share.
	In connection with the acquisition of Greenhill Australia in April 2010, the Company issued 1,099,877 shares of contingent convertible preferred stock ("Performance Stock"). The Performance Stock does not pay dividends, was issued in tranches of 659,926 shares and 439,951 shares, and will convert to shares of the Company's common stock on a one for one basis promptly after the third and fifth anniversary of the closing of the acquisition, respectively, if certain separate revenue targets are achieved. The revenue target for the first tranche was achieved on April 1, 2013, the third anniversary of the closing, and 659,926 shares of Performance Stock, which had a fair value of $32.5 million at the acquisition date, were converted to common stock. If the revenue target for the second tranche is achieved, the Performance Stock in that tranche will be converted to common stock on April 1, 2015. If the revenue target for the second tranche is not achieved, the Performance Stock in that tranche will be canceled.

Earnings_Per_Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	Earnings Per Share
	The computations of basic and diluted EPS are set forth below:
		For the Three Months Ended June 30,				For the Six Months Ended June 30,
		2014		2013		2014		2013
		(in thousands, except per share  amounts, unaudited)
	Numerator for basic and diluted EPS — net income allocated to common stockholders	$	8,054	$	15,487	$	8,292	$	29,104
	Denominator for basic EPS — weighted average number of shares	29,954		29,912		30,219		30,131
	Add — dilutive effect of:
	Weighted average number of incremental shares issuable from restricted stock units	7		8		36		40
	Denominator for diluted EPS — weighted average number of shares and dilutive potential shares	29,961		29,920		30,255		30,171
	Earnings per share:
	Basic	$	0.27	$	0.52	$	0.27	$	0.97
	Diluted	$	0.27	$	0.52	$	0.27	$	0.96
	The weighted number of shares and dilutive potential shares for the three and six month periods ended June 30, 2014 and 2013 includes the conversion of the first tranche of Performance Stock to common stock. The weighted average number of shares and dilutive potential shares for the three and six month periods ended June 30, 2014 and 2013 do not include the shares of the second tranche, since the revenue target has not been achieved. If the revenue target for the second tranche is achieved, the shares related to that tranche will be included in the Company's share count at the time the revenue target is met. If the revenue target for the second tranche is not achieved, the Performance Stock in that tranche will be canceled.

Income_Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Income Taxes
	The Company's effective tax rate will vary depending on the source of the income. Investment and certain foreign sourced income are taxed at a lower effective rate than U.S. trade or business income.
	Under the requirements of ASC 740, the Company provides residual U.S. deferred tax for the earnings of non-U.S. subsidiaries not considered to be permanently invested outside the United States to the extent these earnings cannot be repatriated in a tax-free manner.  As of the second quarter of 2014, the Company has not incurred any additional tax liabilities, net of credits for foreign taxes paid, on these non-U.S. subsidiary earnings.
	The Company believes it is more likely than not that the deferred tax asset, which relates principally to compensation expense deducted for book purposes but not yet deducted for tax purposes, will be realized as offsets to: (i) the realization of its deferred tax liabilities and (ii) future taxable income.
	Any gain or loss resulting from the translation of deferred taxes for foreign affiliates is included in the foreign currency translation adjustment incorporated as a component of other comprehensive income, net of tax, in the condensed consolidated statements of changes in equity and the condensed consolidated statements of comprehensive income.
	The Company's income tax returns are routinely examined by the U.S. federal, U.S. state, and international tax authorities. The Company regularly assesses its tax positions with respect to applicable income tax issues for open tax years in each respective jurisdiction in which the Company operates. As of June 30, 2014, the Company does not believe the resolution of any current ongoing income tax examinations will have a material adverse impact on the financial position of the Company.

Regulatory_Requirements

Regulatory Requirements	6 Months Ended
	Jun. 30, 2014
Regulatory Capital Requirements [Abstract]	'
Regulatory Requirements	'
	Regulatory Requirements
	Certain subsidiaries of the Company are subject to various regulatory requirements in the United States, United Kingdom, Australia and certain other jurisdictions, which specify, among other requirements, minimum net capital requirements for registered broker-dealers.
	G&Co is subject to the SEC’s Uniform Net Capital requirements under Rule 15c3-1 (the “Rule”), which specifies, among other requirements, minimum net capital requirements for registered broker-dealers. The Rule requires G&Co to maintain a minimum net capital of the greater of $5,000 or 1/15 of aggregate indebtedness, as defined in the Rule. As of June 30, 2014, G&Co’s net capital was $5.2 million, which exceeded its requirement by $4.7 million. G&Co’s aggregate indebtedness to net capital ratio was 1.4 to 1 at June 30, 2014. Certain distributions and other capital withdrawals of G&Co are subject to certain notifications and restrictive provisions of the Rule.
	GCI is subject to capital requirements of the FCA. Greenhill Australia is subject to capital requirements of the ASIC. We are also subject to certain capital regulatory requirements in other jurisdictions. As of June 30, 2014, GCI, Greenhill Australia, and our other regulated operations were in compliance with local capital adequacy requirements.

Business_Information

Business Information	6 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]	'
Business Information	'
	Business Information
	The Company's activities as an investment banking firm constitute one business segment, with two principal sources of revenue:
	•	Advisory, which includes engagements relating to mergers and acquisitions, financing advisory and restructuring, and private equity and real estate capital advisory services; and
	•	Investments, which includes the Company's principal investments in merchant banking funds and interest.
	The following provides a breakdown of our revenues by source for the three and six month periods ended June 30, 2014 and 2013, respectively:
		For the Three Months Ended
		30-Jun-14						30-Jun-13
		Amount			% of Total			Amount		% of Total
		(in millions, unaudited)
	Advisory revenues	$	64			102	%	$	83.1		96	%
	Investment revenues (losses)	(1.0		)		(2	)%	3.6			4	%
	Total revenues	$	63			100	%	$	86.7		100	%
		For the Six Months Ended
		30-Jun-14						30-Jun-13
		Amount			% of Total			Amount		% of Total
		(in millions, unaudited)
	Advisory revenues	$	112.4			105	%	$	164.5		99	%
	Investment revenues (losses)	(5.8		)		(5	)%	1.8			1	%
	Total revenues	$	106.6			100	%	$	166.3		100	%
	In reporting to management, the Company distinguishes the sources of its revenues between advisory and investment revenues. However, management does not evaluate other financial data or operating results such as operating expenses, profit and loss or assets by its advisory and investment activities.

Subsequent_Events

Subsequent Events	6 Months Ended
	Jun. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	Subsequent Events
	The Company evaluates subsequent events through the date on which the financial statements are issued.
	On July 24, 2014, the Board of Directors of the Company declared a quarterly dividend of $0.45 per share. The dividend will be payable on September 17, 2014 to the common stockholders of record on September 3, 2014.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Basis of Financial Information	'
	Basis of Financial Information
	These condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States (U.S. GAAP), which require management to make estimates and assumptions regarding future events that affect the amounts reported in our financial statements and these footnotes, including investment valuations, compensation accruals and other matters. Management believes that the estimates used in preparing its condensed consolidated financial statements are reasonable and prudent. Actual results could differ materially from those estimates.
	The condensed consolidated financial statements of the Company include all consolidated accounts of Greenhill & Co., Inc. and all other entities in which the Company has a controlling interest after eliminations of all significant inter-company accounts and transactions. In accordance with the accounting pronouncements related to consolidation of variable interest entities, the Company consolidates the general partners of certain merchant banking funds in which it has a majority of the economic interest and control. The general partners account for their investments in these merchant banking funds under the equity method of accounting. As such, the general partners record their proportionate shares of income (loss) from the underlying merchant banking funds. As these merchant banking funds follow investment company accounting, and generally record all their assets and liabilities at fair value, the general partners’ investment in these merchant banking funds represents an estimation of fair value. The Company does not consolidate the merchant banking funds since the Company, through its general partner and limited partner interests, does not have a majority of the economic interest in such funds and the limited partners have certain rights to remove the general partner by a simple majority vote of unaffiliated third-party investors.
	These condensed consolidated financial statements are unaudited and should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2013 included in the Company's Annual Report on Form 10-K filed with the SEC. The condensed consolidated financial information as of December 31, 2013 has been derived from audited consolidated financial statements not included herein. The results of operations for interim periods are not necessarily indicative of results for the entire year.
Revenue Recognition	'
	Revenue Recognition
	Advisory Revenues
	It is the Company's accounting policy to recognize revenue when (i) there is persuasive evidence of an arrangement with a client, (ii) the agreed-upon services have been completed and delivered to the client or the transaction or events noted in the engagement letter are determined to be substantially complete, (iii) fees are fixed and determinable, and (iv) collection is reasonably assured.
	The Company recognizes advisory fee revenues for mergers and acquisitions or financing advisory and restructuring engagements when the services related to the underlying transactions are completed in accordance with the terms of the engagement letter and all other requirements for revenue recognition are satisfied.
	The Company recognizes private equity and real estate capital advisory fees at the time of the client's acceptance of capital or capital commitments to a fund in accordance with the terms of the engagement letter. Generally, fee revenue is determined based upon a fixed percentage of capital committed to the fund. For multiple closings, revenue is recognized at each interim closing based on the amount of capital committed at each closing at the fixed fee percentage. At the final closing, revenue is recognized at the fixed percentage for the amount of capital committed since the last interim closing.
	While the majority of the Company's fee revenue is earned at the conclusion of a transaction or closing of a fund, on-going retainer fees, substantially all of which relate to non-success based strategic advisory and financing advisory and restructuring assignments, are also earned and recognized as advisory fee revenue over the period in which the related service is rendered.
	The Company’s clients reimburse certain expenses incurred by the Company in the conduct of advisory engagements. Expenses are reported net of such client reimbursements. Client reimbursements totaled $1.0 million and $1.6 million for the three months ended June 30, 2014 and 2013, respectively, and $1.7 million and $3.5 million for the six months ended June 30, 2014 and 2013, respectively.
	Investment Revenues
	Investment revenues consist of (i) gains (or losses) on the Company's investments in certain merchant banking funds, Iridium Communications Inc. ("Iridium") (prior to the sale of the Company's entire investment that was completed in December 2013) and other investments and (ii) interest income.
	The Company recognizes revenue on its investments in merchant banking funds based on its allocable share of realized and unrealized gains (or losses) reported by such funds. The Company recognizes revenue on its other investments, including Iridium, after considering the Company's influence or control of the investee, based on gains and losses on investment positions held, which arise from sales or changes in the fair value of investments. The amount of gains or losses are not predictable and can cause periodic fluctuations in net income and therefore subject the Company to market and credit risk.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	The Company’s cash and cash equivalents consist of (i) cash held on deposit with financial institutions, (ii) cash equivalents and (iii) restricted cash. The Company maintains its cash and cash equivalents with financial institutions with high credit ratings. The Company considers all highly liquid investments with a maturity date of three months or less, when purchased, to be cash equivalents. Cash equivalents primarily consist of money market funds and overnight deposits.
	Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. See "Note 3 — Cash and Cash Equivalents".
Advisory Fees Receivables	'
	Advisory Fees Receivables
	Receivables are stated net of an allowance for doubtful accounts. The estimate for the allowance for doubtful accounts is derived by the Company by utilizing past client transaction history and an assessment of the client’s creditworthiness. The Company did not record a charge for bad debt expense for either of the three or six month periods ended June 30, 2014 or 2013.
	Included in the advisory fees receivable balance were $40.1 million and $34.0 million of long term receivables at June 30, 2014 and December 31, 2013, respectively, which relate to private equity and real estate capital advisory engagements that are generally paid in installments over a period of three years.
	Included as a component of investment revenues on the condensed consolidated statements of income is interest income related to capital advisory engagements of $0.2 million for each of the three month periods ended June 30, 2014 and 2013, and $0.4 million and $0.3 million for the six month periods ended June 30, 2014 and 2013, respectively.
	Credit risk related to advisory fees receivable is disbursed across a large number of clients located in various geographic areas. The Company controls credit risk through credit approvals and monitoring procedures but does not require collateral to support accounts receivable.
Investments	'
	Investments
	The Company's investments in merchant banking funds are recorded under the equity method of accounting based upon the Company's proportionate share of the estimated fair value of the underlying merchant banking fund's net assets. The value of merchant banking fund investments in privately held companies is determined by the management of the fund after giving consideration to the cost of the security, the pricing of other sales of securities by the portfolio company, the price of securities of other companies comparable to the portfolio company, purchase multiples paid in other comparable third-party transactions, the original purchase price multiple, market conditions, liquidity, operating results and other qualitative and quantitative factors. Discounts may be applied to the funds' privately held investments to reflect the lack of liquidity and other transfer restrictions. Because of the inherent uncertainty of valuations as well as the discounts applied, the estimated fair values of investments in privately held companies may differ significantly from the values that would have been used had a ready market for the securities existed. The value of merchant banking fund investments in publicly traded securities is determined using quoted market prices discounted for any legal or contractual restrictions on sale. The values at which the Company's investments are carried on its condensed consolidated statements of financial condition are adjusted to estimated fair value at the end of each quarter, and the volatility in general economic conditions, stock markets and commodity prices may result in significant changes in the estimated fair value of the investments from period to period.
Goodwill	'
	Goodwill
	Goodwill is the cost of acquired companies in excess of the fair value of identifiable net assets at acquisition date. The Company tests its goodwill for impairment at least annually. An impairment loss is triggered if the estimated fair value of an operating unit is less than estimated net book value. Such loss is calculated as the difference between the estimated fair value of goodwill and its carrying value.
	Goodwill is translated at the rate of exchange prevailing at the end of the periods presented in accordance with the accounting guidance for foreign currency translation. Any translation gain or loss is included in the foreign currency translation adjustment, which is included as a component of other comprehensive income in the condensed consolidated statements of changes in equity.
Restricted Stock Units	'
	Restricted Stock Units
	The Company accounts for its share-based compensation payments by recording the fair value of restricted stock units granted to employees as compensation expense. The restricted stock units are generally amortized over a five year service period following the date of grant. Compensation expense is determined based upon the fair market value of the Company’s common stock at the date of grant. As the Company expenses the awards, the restricted stock units recognized are recorded within equity. The restricted stock units are reclassified into common stock and additional paid-in capital upon vesting. The Company records as treasury stock the repurchase of stock delivered to its employees in settlement of tax liabilities incurred upon the vesting of restricted stock units. The Company records dividend equivalent payments, net of forfeitures, on outstanding restricted stock units as a dividend payment and a charge to equity.
Earnings per Share	'
	Earnings per Share
	The Company calculates basic earnings per share (“EPS”) by dividing net income allocated to common stockholders by the sum of (i) the weighted average number of shares outstanding for the period and (ii) the weighted average number of shares deemed issuable due to the vesting of restricted stock units for accounting purposes. In addition, the outstanding contingent convertible preferred shares will be included in the weighted average number of shares to the extent the performance target is deemed to have been met.
	The Company calculates diluted EPS by dividing net income allocated to common stockholders by the sum of (i) basic shares per above and (ii) the dilutive effect of the common stock deliverable pursuant to restricted stock units for which future service is required. Under the treasury method, the number of shares issuable upon the vesting of restricted stock units included in the calculation of diluted EPS is the excess, if any, of the number of shares expected to be issued, less the number of shares that could be purchased by the Company with the proceeds to be received upon settlement at the average market closing price during the reporting period.
Provision for Taxes	'
	Provision for Taxes
	The Company accounts for taxes in accordance with the accounting guidance for income taxes which requires the recognition of tax benefits or expenses on the temporary differences between the financial reporting and tax bases of its assets and liabilities.
	The Company follows the guidance for income taxes in recognizing, measuring, presenting and disclosing in its financial statements uncertain tax positions taken or expected to be taken on its income tax returns. Income tax expense is based on pre-tax accounting income, including adjustments made for the recognition or derecognition related to uncertain tax positions. The recognition or derecognition of income tax expense related to uncertain tax positions is determined under the guidance.
	Deferred tax assets and liabilities are recognized for the future tax attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period of change. Management applies the “more-likely-than-not criteria” when determining tax benefits.
Foreign Currency Translation	'
	Foreign Currency Translation
	Assets and liabilities denominated in foreign currencies have been translated at rates of exchange prevailing at the end of the periods presented in accordance with the accounting guidance for foreign currency translation. Income and expenses transacted in foreign currency have been translated at average monthly exchange rates during the period. Translation gains and losses are included in the foreign currency translation adjustment, which is included as a component of other comprehensive income in the condensed consolidated statements of changes in equity. Foreign currency transaction gains and losses are included in the condensed consolidated statements of income.
Fair Value of Other Financial Instruments	'
	Fair Value of Other Financial Instruments
	The Company believes that the carrying values of financial instruments presented in the condensed consolidated statements of financial condition approximate their fair value generally due to their short-term nature and generally negligible credit risk. These fair value measurements would be categorized as Level 2 within the fair value hierarchy.
Noncontrolling Interests	'
	Noncontrolling Interests
	The Company records the noncontrolling interests of other entities as equity in the condensed consolidated statements of financial condition. Additionally, the condensed consolidated statements of income separately present income allocated to both noncontrolling interests and common stockholders.
	The portion of the consolidated interests in the general partners of certain of the merchant banking funds not held by the Company is presented as noncontrolling interest in equity. See "Note 4 — Investments — Merchant Banking Funds".
Property and Equipment	'
	Property and Equipment
	Property and equipment is stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the life of the assets. Amortization of leasehold improvements is computed using the straight-line method over the lesser of the life of the asset or the remaining term of the lease. Estimated useful lives of the Company’s fixed assets are generally as follows:
	Aircraft – 7 years
	Equipment – 5 years
	Furniture and fixtures – 7 years
	Leasehold improvements – the lesser of 10 years or the remaining lease term

Cash_and_Cash_Equivalents_Tabl

Cash and Cash Equivalents (Tables)	6 Months Ended
	Jun. 30, 2014
Cash and Cash Equivalents [Abstract]	'
Cash and cash equivalents	'
	The carrying values of the Company's cash and cash equivalents are as follows:
		As of June 30,		As of December 31,
		2014		2013
		(in thousands, unaudited)
	Cash	$	23,513	$	34,099
	Cash equivalents	788		3,484
	Restricted cash - deferred compensation plan	535		867
	Restricted cash - letters of credit	4,324		4,229
	Total cash and cash equivalents	$	29,160	$	42,679

Investments_Tables

Investments (Tables)	6 Months Ended
	Jun. 30, 2014
Schedule of Investments [Abstract]	'
Carrying Value of Investments in Merchant Banking Funds	'
	The carrying value of the Company’s investments in merchant banking funds are as follows:
		As of June 30,			As of December 31,
		2014			2013
		(in thousands, unaudited)
	Investment in GCP I	$	1,826		$	2,257
	Investment in GCP II	907			7,690
	Investment in other merchant banking funds	1,792			1,798
	Total investments in merchant banking funds	$	4,525		$	11,745
Investment Revenues by Source	'
	The Company’s investment revenues, by source, are as follows:
		For the Three Months Ended June 30,						For the Six Months Ended June 30,
		2014			2013			2014			2013
		(in thousands, unaudited)
	Net realized and unrealized gains (losses) on investments in merchant banking funds	$	(1,299	)	$	(3,354	)	$	(6,503	)	$	(3,354	)
	Net realized and unrealized gains on investment in Iridium	—			6,652			—			4,570
	Deferred gain on sale of certain merchant banking assets	49			49			97			98
	Interest income	286			277			556			453
	Total investment revenues (losses)	$	(964	)	$	3,624		$	(5,850	)	$	1,767

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Computations of Basic and Diluted Earnings Per Share	'
	The computations of basic and diluted EPS are set forth below:
		For the Three Months Ended June 30,				For the Six Months Ended June 30,
		2014		2013		2014		2013
		(in thousands, except per share  amounts, unaudited)
	Numerator for basic and diluted EPS — net income allocated to common stockholders	$	8,054	$	15,487	$	8,292	$	29,104
	Denominator for basic EPS — weighted average number of shares	29,954		29,912		30,219		30,131
	Add — dilutive effect of:
	Weighted average number of incremental shares issuable from restricted stock units	7		8		36		40
	Denominator for diluted EPS — weighted average number of shares and dilutive potential shares	29,961		29,920		30,255		30,171
	Earnings per share:
	Basic	$	0.27	$	0.52	$	0.27	$	0.97
	Diluted	$	0.27	$	0.52	$	0.27	$	0.96

Business_Information_Tables

Business Information (Tables)	6 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]	'
Revenues by Source	'
	The following provides a breakdown of our revenues by source for the three and six month periods ended June 30, 2014 and 2013, respectively:
		For the Three Months Ended
		30-Jun-14						30-Jun-13
		Amount			% of Total			Amount		% of Total
		(in millions, unaudited)
	Advisory revenues	$	64			102	%	$	83.1		96	%
	Investment revenues (losses)	(1.0		)		(2	)%	3.6			4	%
	Total revenues	$	63			100	%	$	86.7		100	%
		For the Six Months Ended
		30-Jun-14						30-Jun-13
		Amount			% of Total			Amount		% of Total
		(in millions, unaudited)
	Advisory revenues	$	112.4			105	%	$	164.5		99	%
	Investment revenues (losses)	(5.8		)		(5	)%	1.8			1	%
	Total revenues	$	106.6			100	%	$	166.3		100	%

Organization_Business_Informat

Organization- Business Information (Details)	6 Months Ended
	Jun. 30, 2014
	sources
	Segment
Segment Reporting [Abstract]	'
Number of reportable segments (segments)	1
Number of principal sources of revenue (source of revenue)	2

Summary_of_Significant_Account2

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Significant Accounting Policies [Line Items]	'	'	'	'	'
Client reimbursements	$1	$1.60	$1.70	$3.50	'
Long term receivables related to private equity and real estate capital advisory engagements	40.1	'	40.1	'	34
Installments period	'	'	'3 years	'	'
Increase to goodwill from translation adjustments	'	'	-7.1	'	'
Depreciation and amortization of property and equipment	'	'	'Depreciation is computed using the straight-line method over the life of the assets. Amortization of leasehold improvements is computed using the straight-line method over the lesser of the life of the asset or the remaining term of the lease.	'	'
Aircraft	'	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'	'
Estimated useful lives of fixed assets (in years)	'	'	'7 years	'	'
Equipment	'	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'	'
Estimated useful lives of fixed assets (in years)	'	'	'5 years	'	'
Furniture and Fixtures	'	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'	'
Estimated useful lives of fixed assets (in years)	'	'	'7 years	'	'
Leasehold Improvements	'	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'	'
Estimated useful lives of fixed assets (in years)	'	'	'10 years	'	'
Description of estimated useful lives	'	'	'Lesser of 10 years or the remaining lease term	'	'
Capital advisory engagements	'	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'	'
Interest income on long term receivables	$0.20	$0.20	$0.40	$0.30	'

Cash_and_Cash_Equivalents_Deta

Cash and Cash Equivalents (Details) (USD $)	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
Restricted Cash and Cash Equivalents Items [Line Items]	'	'	'	'
Cash	$23,513,000	$34,099,000	'	'
Cash equivalents	788,000	3,484,000	'	'
Restricted cash	4,900,000	5,100,000	'	'
Total cash and cash equivalents	29,160,000	42,679,000	33,533,000	50,324,000
Distribution period	'7 years	'	'	'
Deferred compensation liability	500,000	900,000	'	'
Deferred compensation plan	'	'	'	'
Restricted Cash and Cash Equivalents Items [Line Items]	'	'	'	'
Restricted cash	535,000	867,000	'	'
Letter of Credit	'	'	'	'
Restricted Cash and Cash Equivalents Items [Line Items]	'	'	'	'
Restricted cash	$4,324,000	$4,229,000	'	'

Investments_Additional_Informa

Investments - Additional Information (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
GCP I	'	'
Fair Value, Measurement Inputs, Disclosure [Line Items]	'	'
Investment related to noncontrolling interests	$0.10	$0.10
GCP II	'	'
Fair Value, Measurement Inputs, Disclosure [Line Items]	'	'
Investment related to noncontrolling interests	0.6	0.9
Barrow Street	'	'
Fair Value, Measurement Inputs, Disclosure [Line Items]	'	'
Other commitment	$0.30	'

Investments_Carrying_Value_of_

Investments - Carrying Value of Investments in Merchant Banking Funds (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investments in and Advances to Affiliates [Line Items]	'	'
Investments in merchant banking funds	$4,525	$11,745
GCP I	'	'
Investments in and Advances to Affiliates [Line Items]	'	'
Investments in merchant banking funds	1,826	2,257
GCP II	'	'
Investments in and Advances to Affiliates [Line Items]	'	'
Investments in merchant banking funds	907	7,690
Other Merchant Banking Funds	'	'
Investments in and Advances to Affiliates [Line Items]	'	'
Investments in merchant banking funds	$1,792	$1,798

Investments_Investment_Revenue

Investments - Investment Revenues (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Principal Transaction Revenue [Line Items]	'	'	'	'
Net realized and unrealized gains (losses)	'	'	($6,531)	$1,217
Interest income	286	277	556	453
Total investment revenues (losses)	-964	3,624	-5,850	1,767
Iridium	'	'	'	'
Principal Transaction Revenue [Line Items]	'	'	'	'
Net realized and unrealized gains (losses)	0	6,652	0	4,570
Merchant Banking Funds	'	'	'	'
Principal Transaction Revenue [Line Items]	'	'	'	'
Net realized and unrealized gains (losses)	-1,299	-3,354	-6,503	-3,354
Deferred gain on sale of certain merchant banking assets	$49	$49	$97	$98

Related_Parties_Additional_Inf

Related Parties - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Related Party Transactions [Abstract]	'	'	'	'
Tenant Reimbursements	$19,200	$18,300	$38,400	$36,600

Revolving_Bank_Loan_Facility_A

Revolving Bank Loan Facility - Additional Information (Detail) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Line of Credit Facility [Line Items]	'	'
Weighted average daily borrowings outstanding under the loan facility	$35	$31.80
Weighted average interest rate (percent)	3.25%	3.25%
Line of Credit	'	'
Line of Credit Facility [Line Items]	'	'
Revolving loan facility, borrowing capacity	$45	'

Equity_Additional_Information_

Equity - Additional Information (Detail) (USD $)

0 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

In Millions, except Share data, unless otherwise specified

Jun. 18, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Apr. 30, 2010

Apr. 30, 2013

Apr. 30, 2010

Common Stock

Common Stock

Restricted Stock Units

Restricted Stock Units

Caliburn Acquisition

Tranche One - Performance Stock

Tranche Two - Performance Stock

Contingent Convertible Preferred Stock

Caliburn Acquisition

Caliburn Acquisition

Contingent Convertible Preferred Stock

Contingent Convertible Preferred Stock

Stockholders Equity Note [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Dividends declared per common share (in USD per share)

$0.45

$0.45

$0.45

$0.90

$0.90

'

'

'

'

'

'

'

Dividend equivalents paid on outstanding restricted stock units

'

'

'

$3.10

$3.10

'

'

'

'

'

'

'

Restricted stock units vested and issued as common stock (shares)

'

'

'

'

'

'

'

892,038

581,546

'

'

'

Repurchased shares for award (shares)

'

'

'

'

'

351,662

180,667

'

'

'

'

'

Average repurchase price of shares for award (USD per share)

'

'

'

'

'

$51.85

$58.69

'

'

'

'

'

Repurchased common stock (shares)

'

'

'

'

'

'

701,367

'

'

'

'

'

Average repurchase price of common stock (in USD per share)

'

'

'

'

'

'

$49.94

'

'

'

'

'

Conversion to common stock shares if revenue targets are achieved (shares)

'

'

'

'

'

'

'

'

'

1,099,877

'

439,951

Conversion of Stock (shares)

'

'

'

'

'

'

'

'

'

'

659,926

'

Performance stock fair value at acquisition date

'

'

'

'

'

'

'

'

'

$32.50

'

'

Earnings_Per_Share_Reconciliat

Earnings Per Share - Reconciliation (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Earnings Per Share [Abstract]	'	'	'	'
Numerator for basic and diluted EPS — net income allocated to common stockholders	$8,054	$15,487	$8,292	$29,104
Denominator for basic EPS — weighted average number of shares (shares)	29,954,291	29,912,161	30,218,513	30,131,291
Add — dilutive effect of:	'	'	'	'
Weighted average number of incremental shares issuable from restricted stock units (shares)	6,732	8,018	36,036	40,209
Denominator for diluted EPS — weighted average number of shares and dilutive potential shares (shares)	29,961,023	29,920,179	30,254,549	30,171,500
Earnings per share:	'	'	'	'
Basic (usd per share)	$0.27	$0.52	$0.27	$0.97
Diluted (usd per share)	$0.27	$0.52	$0.27	$0.96

Regulatory_Requirements_Additi

Regulatory Requirements - Additional Information (Detail) (USD $)	6 Months Ended
	Jun. 30, 2014
Regulatory Capital Requirements [Abstract]	'
Minimum net capital required	$5,000
Minimum net capital requirements (percent)	6.67%
Description of minimum net capital requirements	'The greater of $5,000 or 1/15 of aggregate indebtedness
Net capital	5,200,000
Excess net capital	$4,700,000
Aggregate indebtedness to net capital ratio (percent)	1.4

Business_Information_Additiona

Business Information - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
			sources
			Segment
Segment Reporting Information	'	'	'	'
Number of reportable segments (segments)	'	'	1	'
Number of principal sources of revenue (source of revenue)	'	'	2	'
Advisory revenues	$63,987	$83,066	$112,442	$164,513
Investment revenues (losses)	-964	3,624	-5,850	1,767
Revenues as a percentage of total revenue (percent)	100.00%	100.00%	100.00%	100.00%
Total revenues	$63,023	$86,690	$106,592	$166,280
Advisory revenues	'	'	'	'
Segment Reporting Information	'	'	'	'
Revenues as a percentage of total revenue (percent)	102.00%	96.00%	105.00%	99.00%
Investment Revenues	'	'	'	'
Segment Reporting Information	'	'	'	'
Revenues as a percentage of total revenue (percent)	-2.00%	4.00%	-5.00%	1.00%

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (Subsequent Event, USD $)	0 Months Ended
	Jul. 24, 2014
Subsequent Event	'
Subsequent Event [Line Items]	'
Subsequent event description	'The Board of Directors of the Company declared a quarterly dividend
Dividends declared per common share (in USD per share)	$0.45
Dividend payable date	17-Sep-14
Dividend record date	3-Sep-14