<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> DEC-31-1998 <CASH> 50,222 <SECURITIES> 83,802 <RECEIVABLES> 28,718 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0<F1> <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 254,675 <CURRENT-LIABILITIES> 0<F1> <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 2 <OTHER-SE> 193,998 <TOTAL-LIABILITY-AND-EQUITY> 194,900 <SALES> 0 <TOTAL-REVENUES> 138,187 <CGS> 0 <TOTAL-COSTS> 93,175 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 64,428 <INCOME-TAX> 5,451 <INCOME-CONTINUING> 57,267 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 57,267 <EPS-PRIMARY> 0 <F2> <EPS-DILUTED> 0 <F2> <FN> <F1> UNCLASSIFIED STATEMENT OF FINANCIAL CONDITION. <F2> TO BE PRESENTED ON A PRO FORMA BASIS. </FN>