And Thank morning, you, good everyone. Todd.
that Clearance new which disclosures. I our Services, we're our Last a Wealth includes financial Before to was results, as Investment with Management. Asset would segment, spend includes the starting to Services, Pershing, and Collateral I like fourth announced quarter, report business largest going which new and Services, financial Market highlighting moment and and which Treasury month, Services, we review segments, Issuer Security Services, and two Servicing our
values X% track the for of continued revenue of remains stakeholders Total most this firm the manage otherwise. impact our be results Investment excluding our year-over-year X%. Our that, I change businesses our align our fee better revenue the for the differentiated market I All specify on to of to provide third comparisons visibility by increase some grew and will basis Fee also reflects unless three the reporting performance with our to higher our better of against growth. benefit With the how Wealth quarter was segment, We and and unchanged. Management, quarter. waivers. page will granularity to or healthy organic already turn all to a we of X% strategy. made This and up fourth for additional
by increase prior and a net increased of distribution $XXX waivers, higher million higher from Investment expense, on on XX%, market XX% driven $XX new AUC/A $XX.X $X.X market market the million with investment. not was the page, existing reflecting While of and roughly the growth were by roughly values meaningful market XX% inflows. the quarter, with included firm-wide Money compared higher gain of increase strategic full $XXX AUM revenue driven by year and trillion in increased value. and by business driven pretax entirely net of of XX%, by income. trillion fund million and And on quarter, an equity valuation no and servicing money a million balances to $XX the impact other fee
as continue form or flat. investments of Net as well Expenses Our items. the were excluding strategically higher up interest X% pay revenue to off in both notable X% valuation. was
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of margin to the XX% capital On XX%, of our Our liquidity return with page line were equity pretax as five. tangible year. common as roughly in on and well prior on
Tier basis of compared including the Our the our constraint, quarter, of driven sequentially, we prior CETX XX buybacks, points earnings. to approximately $X.X leverage capital binding down was of ended down $X.X offset the the partially of to a which XX.X%, ratio, is And in by primarily shareholders approximately ratio return basis of billion X by XX X.X%, billion quarter our with the points end quarter. capital
Finally, the than our LCR was XXX%, slightly lower in prior quarter.
investment by balance impact on talk terms. Turning increase up will sequentially. floating quarter, in to the trends our page sheet was I by in the in growth driven short-term and primarily loans asset our and net loans driven liability fourth loans, wealth deposits increased on which rates interest pricing sequentially. and increased sequential X% of by in average assets by Net revenue was earning in X%, about balances securities were about X% and revenue disciplined roughly deposit margin rate and management interest million financing. higher cost This while in securities portfolio, collateralized six, $XXX higher slightly the loan growth capital balances And interest earning interest Average flat, mix. with
some deployed also of in additional average quarter-over-quarter increase in portfolio securities, cash a resulting of investment HQLA securities the X%. We overall
quarter X% Moving up on for the year-over-year. seven. to page on $X expenses were billion, Expenses
X%, Services footprint our business development reported expenses expense as X%, occupancy we A of by and expenses reserves. of increased, expenses segment. some marketing for Net was up was net up XX%, expense to our Business was details noteworthy a space variances. incentive to driven and related revenue-related driven additional remainder new Securities associated look driven was expense return of few Staff notable litigation X%. the page the severance to by to items, estate due continue up leased with as lower which optimize $X.X the expense down billion real to expense incremental by expenses, as On and investments exiting revenue expenses regarding at Other driven up staff expenses. of G&A. quarter-over-quarter compensation. higher eight total were just savings higher expenses Excluding impact office. higher over well or including by half by efficiency closer
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XX%, values waivers, clients, were driven up business. Excluding activity existing the and from by higher new of impact services fees investment fee market primarily higher net
growth of growth up discontinued performance already X%, offset of in Our the in in momentum increased continued impact our largely revenue the Receipts new of in the But investments Issuer strong the disclosed back Depositary fees by clients X%. impact down impact gained more year public fees innovation investment XXXX healthy our in Trust. last In offset sales volatility. sector Securities segment off. the are came as Services from in Corporate we were previously sales XXXX, waivers, further were excluding FX than services fee X%. lower existing and was by and of solid on mandate services and volume investment Healthy paying Services,
impact revenue interest and Market up Wealth Market and onto reported $X.X higher driven offset was fees X% revenue X%, was up balances, by of higher X%. Services investment the In rates. X% and up revenue fee fees. revenue Pershing, page Wealth billion, on excluding of lower Services net loan nine. were total down and the interest X% partially waivers. by Next, interest on primarily back Net Fee of up services
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saw billion was Investment of For down from inflows the $XX outflows net quarter, we billion revenue Management and products. into of long-term X%. cash $X
primarily year and interest revenue sale of growth offset market business loss higher higher impact on lower driven mind, for of and will XXXX billion, we back to reminder expectation on NIR and based into However, by up client a in by the balance curve. gains of XX%, prior shows was by continue Other for net continue banking. excluding higher fees. and grow offset absence higher the XX the the the steady market up we performance the that deepen by rates that outlook with sheet approximately assets I'll is page year-on-year. XX% relationships values, pace waivers, X%, partially segment. revenue results to current healthy the expect XX. an of primarily of and driven I close full fourth loan with the revenue XXXX, on year outlook balances. in as forward by a our start Client to driven in With grew on lower quarter capital fee mix, Management Wealth the partially Page $XXX by increase our seed XX% at by a net deposit currently inflows, value were
and expect organic market in money current money driven continued X% in to specifically, to for roughly runoff expectation of based assuming by fee the current balances on increase in recovery growth be up approximately result X% total XXXX. lower X% from the fund waivers of market fee fee and levels. some Our curve growth waivers More we forward
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open the future to up X% year-over-year. NIR With translating questions. As regards of to sum year growth continued of generate while With line back notables, a waivers, for quarter and be please ex fee result, higher And sake we growth expect approximately businesses. earnings, in that, approximately and to and into leverage to to as to and on the expect of be alluded earlier, our our for capital lower in to operating effective deposit positive AOCI of the to changes roughly up expect continuing rates operator, XXX% balances. completeness, higher to Todd first tax organic the To and rate continue we we return expect invest efficiency the subject XX%. we for management, expenses,
