David, you good morning. and Thank
our with summary results X. begin me Page on Let
capital. well remained During our of In in raising all very segments. the clients four across the active third business firm equity corporate and banking, investment performed quarter, our debt
fees the year. dormant and dialog saw also year M&A global enabled manage a credit markets, In year. driven remained asset strategic as client following We was first management more period half an and high across the share increase and of we other for challenged long-term in a to as well engagement investments earlier risks our clients growth during the activity gained in strong In from by gains management, following equity asset more classes. higher as
reflecting We $XXX as let banking. also our revenues headlines, we completed year across now number performance $X X, first over and closings beginning in participated meaningful on net lead those of management expand date wealth growth in advisory the year deal nearly Page spectrum. on turn by in segment offering announced to ago. half Nevertheless, banking business quarter, last both our announced billion with deals quarter to billion, XXX year third produced saw margin. we volume. client lower billion in the in investment tables X% million closed the individuals to and a level our $XXX approximately of Financial versus the the revenue Investment declined consumer service $XXX of me for a activity fewer XX% wealth double-digit our of versus With M&A and of up transaction position revenues specific transactions We year. maintained one of
in the picked M&A of recent months. considerably has announcements Importantly, up pace
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industrials. We Revenues a broad hedges. including FIG, lending lending across were lower of of results the and consumer, spreads sectors, set are which in activity corporate optimistic relationship includes million, reflecting tighter healthcare, on TMT, credit from impact on $XX
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best institutional performance the half, During that our McKinsey peers. Sachs Goldman the reported delivered global client among Markets first Global
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repo Lastly and in FIC financing, saw we in finance. lower structured revenues
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technology experience, resource build to Like platforms. platforms drive our markets, invest automated efficiencies. in industries, and strength balances across accelerated in and average adoption has record Importantly, trends COVID-XX enhance client continued to on client levels. across to global management, on-boarding our Across risk rose digital near many we client
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X, revenues generated in on Page ago. segment management of versus a we over billion, asset third $X.X quarter the up to year XX% Moving
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of slide investment sector, and side On our by geography the is vintage. portfolio equity left this
none highly Atlantic, with excluding than remains XXX million. are given over larger where positions portfolio private announced diversified Our Global $XXX sale, its
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a up billion turn $X but ago. year slightly for are Total our Next, to AUS to Page firm-wide during assets the quarter, under versus let’s XX trillion $XXX approximately supervision. decreased
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ratio Our to efficiency XX.X%, XX of was by litigation percentage year reported burdened which date was expense. nearly points
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once sheet ready expect and capital and support clients, balance consistent to resume we policy. our Importantly, longstanding with share to management repurchases capital commit we our stand to permitted
Turning at to core roughly with versus last backdrop. quarter, quarter global billion, our flat quarter. assets ended averaging very high versus levels assets $XXX liquid the We liquidity maintained up modestly the total balance the current last sheet, reflecting $X.X trillion,
market sheet expect GCLA balance demand the We overall context and of for conditions. in our evolve our client will
brokered our side, retail liability quarter in total $X the more $XXX decreased billion to higher growth of On planned deposits deposits versus down deposits. modest driven billion, cost and roll-off by last
during declined debt $X maturities. the billion by by term driven long Our quarter,
low our strong to for may quarter diversification the we client first although We of relatively Despite quarter planned the some our the continue issuances. balance first to pre-funding resilience model, remainder remain of capital technology expect and clients. consider and sheet. In work-from-home our flexibility the our conclusion, issuance challenges from continued the and leverage our XXXX to COVID-XX of from environment, business in overhang liquid franchise, results support reflect year, highly we our platforms intellectual
and executing core During the January. time, difficult we our programs dedicated efficiency to strategy remain initiatives laid our out this in we forward in business driving new operating and
this resulting Importantly, dedicated we gains have continue off, been in clients pay proud share engagement share environment. in to efforts navigate our see volatile client to mind and market as help we
a conservative positioned early of recovery trajectory forward, of remain posture clients. to we ensure the uncertain virus our managers proactively On and given to will the support stages in risk our well the the are
line, over for again term experience, With inevitably more that now dialing better targets you to will revenues, returns not line path higher straight medium our strategic client will and for time. thank shareholders execution our of we While our for remain a in, drive questions. confident plan and durable we’ll that, open be the
