by to both our net revenue. to XXXth the our best Marischen Thanks, revenue anniversary, of and was in to our me XXXX year and and going turning With Stifel’s take and on full our CFO, both you before the I’ll to let earnings history. outlook I’m then year sheet two return XXXX our record Joel. achieved tangible listen to expenses. to running billion per you taking XX% will a company’s discuss back for turn over concluding highlights morning, Good XXXX come and wealth record fourth through quarter segments, and $X.X through Jim results, thank my call the our balance for our totaled it while time results. the also thoughts. equity operating and results. global up $X.XX, increased The that, to marked Stifel’s XX%. institutional start share
investments conditions our initiatives issued continued by guidance acquisitions integrating compared changing the The and net six of rapidly results balance to closed let’s look XXXX. in illustrates our illustration revenue of January against volatile talented technology. individuals year consecutive XXXX and record continuing back we record XXth and that of to our backdrop while growth as on business. market fact through the strategic in our its diversity in the To We grow of our XXXX, both business Stifel original
revenue by turning which So and XXXX, Slide revenue was the the approximately time you million net driven to the billion, back $X.X at incremental of as acquisitions. of of beginning $XXXX we’ve from billion X, to can $X.X NII million in in $XX see growth forecasted
largely revenue Additionally, we anticipating advisory year banking as expected strong investment was bank revenue driven another growth M&A. of from by KBW
both of to revenue. XX% as non-comp expense of compensation XX% we to XX% percentage On with side, expenses the targeted net XX%, of a
presenting the we economy up rates The the results The thought working our stimulus effectively volatility our first zero items while this to all of cut So easing. U.S. compared Reserve look client impact impacted. year? negatively service materially employees, with negative time, XXXX trillion conditions, increased also us protecting Well, ramping the the at beginning did maintaining pandemic interest changed trillion know, Thus that at in yet all we of provided market what nearly contracted. $X.X Let’s $X also and significantly. government challenge as quantitative what March, of to real Federal with happened? remotely. How while market at the were the the rates levels
million. zero in bank forecast environment, by weighed result below Lower management interest the as our our interest our rate of additional third-party of our from also million fees bank an income of our margin than fees program midpoint came XX net the As approximately our end with the low points rates more below on a declined net asset $XX $XXX guidance.
In negatively addition, market by lower impacted our fees levels. were asset management
On well and in the financials advisory volatility fund and our activity business, verticals, contraction impacted the investment particularly surge our a as as side, technology negatively in banking significant of business. economic placement
have should XXXX to decline factors our these alone, revenue. a from in Taken led XXXX
not quickly of year, diversity enabled us record in volatility to on transition happen? of surpass the our advantage which post traders How first but only second quarters, first did side, able the the staff which our the business record revenue. high our of this spike brokerage were drove the another model guidance. in to we revenue locations, to take Well, our end to allowed to However, and remote our
our acquisition better performance of slightly the was XXXX Second, expected. than we
investment strength franchise, of our the benefited banking which business healthcare than financials. weakness the more our Third, in offset from
drove up discipline higher our guidance. our On but side, non-stop decline the interest expense below the drive comp income in net expense down expenses a did ratio,
market also to So year the share. consecutive in environment our consecutive changes earnings per in fifth XXth record diversity our of resulted only year our revenue, not model record of of but
and quarter on investment we of non-GAAP and annualized quarter had tangible on revenue record $X.XX results, strongest of we banking focus second was our surpassed This return expense the growth onto EPS in for more our common revenue billion Moving and as record $X revenue by first time. quarterly in in The resulted XX%. equity an in revenue our net fourth global driven management record than wealth management.
two. stock way a quarterly XX% splitting future, for dividend, announced in as of confidence three increase our in As one well our expressing we our as our
the slide. to next Turning
this Compensation of due net totaled of percentage I greater which up speak revenues. fourth revenue As our net XX%. at detail, in our composition a our but recent in came below I’ll let quarter which was was to this essentially about revenue stated, was the XX.X%, as range. Jim $X.XX guidance billion,
operating excluding provision below Our gross-ups expenses XX.X%, and guidance came of investment our to of totaled credit in strength in the expense due expense our banking which management. ratio, revenue strong
per equity over as XXX on CECL the in and fourth share tangible we increased our continued in XX%, drive loan provisions. Annualized that XXX essentially common I loss were to had share points. factors the result basis record consecutive return book that the year’s So offset nearly second pretax quarter, credit of which provisions by no XX%, our This compared additional our quarter increase was with improvement was models said tied Altogether, increased growth. up which margins increased earnings per last basis points value XX%. XX%, economic
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should growth our prior another which quarter drive revenue from quarter management and revenues, management the strong the our more billion, year Excluding increased of increase of an in in wealth year by were and first rose full markets. again than $XXX of billion X%, assets $XX impact administration brokerage asset driven and sequentially, which revenue recruiting $XXX the assets, which management billion, asset XX% fee-based We reflect quarter. with strong assets record this end client finished strong both total
want moving our I to year-on-year growth on to rates. Before our recruiting, highlight
year. our our of made assets administration markets, we quarter had slide In impacted we’ve terms seasonally trailing We Our of in advisor investments XX slow what despite increased fee-based and quarter, by into XX-month the fourth our $XX the is good Capital the sale with sale next typically the added Ziegler assets total advisors of assets, million. XX%. of another period a fee-based production gross the financial recruiting platform. of The additions, were under Ziegler strength the highlights excluding specifically and
recruiting trailing XX had is continuation successful our XXXX, efforts. of of beginning that of XXX production this the Our Since advisors million. we’ve a performance added months recruiting new quarter $XXX more than
Moving our year. on to institutional also group, an had outstanding they
we year, generated year. is net full the billion, For up $X.X of from nearly XX% which record last revenue
up raising capital brokerage, and both were year. XX% which Our from driven last roughly results by were
built. $XXX the and the last XX% fourth up than driven brokerage. growth of in net and million, the underscored XX% For model by revenue year business diversified we’ve quarter value more both capital raising totaled a XXXX from
we consistency the in business from the helps slide, this model during our to see changes into revenue can provide to you As and continue conditions this to expect of more bottom and our chart XXXX. market
our on solid the benefited XX% equities side. gains. increased banking was Moving comments brokerage I’ll discuss in slide income year-on-year business to and as activity the fourth businesses. on focus the we brokerage investment fixed this raising my quarter capital Equity trading on on and from institutional and levels revenue up
we million $XX generate the a of from full the year, revenue year. For increased million, record which prior $XXX
XXXX in volatility market XXXX. than in likely lower be While will
was brokerage the Algo increased products. quarter up ATS from in see contributions year-on-year and our quarterly and electronic was which ever. fourth our highest revenue to expect businesses, XX% We include income our Fixed revenue
the All four of actually top in XXXX. occurring
by million Our set prior records surpassed XXXX of XX%. year full in revenue our $XXX
would from by as past our in high Our results we and have continue the investing municipals. been I which solid for we that years. non-CUSIP to seeing be and few grade also yield are investment businesses results activity well, driven rates note
$XXX more the by On underwriting up advisory in slide, our were banking and contributors. the revenue and XX%. year record Equity results diversity prior Revenue XX% fourth surpassed our of look revenue. capital built as and The prior $XXX than of firm-wide quarter technology the XX% we surpassed investment raising from last the underscored record strong the by record SPACs record healthcare million at quarter business year-on-year of our revenue. was we driven following by million
activity Our $XX to we a modestly up fixed of believe prior business as was which had revenue November, strong due low from quarter despite was the public in levels million election. our finance income we the what as saw quarter, underwriting
XXXX. versus we XX% is the XXX which lead full year, up For issues, managed
Bill our of Infrastructure have and year. market an another XXXX, finance public position believe the we Congress in that Given should strong from possibility
million revenue For $XXX more of quarter than results. third advisory doubled business
performers as were In top of from quarter our franchise. consumer our as well terms technology verticals, and solid restructuring another
overall XXXX, our – – such, I’m as at for pipelines, overall. that the we of banking and optimistic are entered levels in of XXXX where pipelines above we business terms at In had that our XXXX were beginning investment
Marischen. Jim that, with to So me call now turn the let over
