and you, Thank good everyone. morning, Ron,
deliver of items and Turning of Slide let of declining EPS year outline before briefly review fourth us quarter, expenses totaled collectively to $X.XX in year of quarter and which million the X, $XXX me XXXX. I recognized another that will full in help we notable my our results, XXXX begin fourth
were critical took approximately complements be during will eliminate we middle during and in the we deferred X,XXX junior management, partially through automation and the roles positions, that $XX which by mostly reduction employee years the senior ongoing made management First, pandemic. an to in-sourcing year. severance offset reductions X the of hires million charge COVID-XX of This ago,
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begin Turning results. of X, year full to XQ and will 'XX my I XXXX review our Slide both
expenses combined on see to revenues. translation Total in and $XX finished growth a up rate revenue year-on-year continues environment quarter fee variable million increased in stronger were quarter-on-quarter and be NII. strong quarter-on-quarter of while the X% notables we third flat currency the improvement with ex to than quarter including table, the with increased left was year-on-year, can headwind, fourth a top X% you sheet true-up Total As absence of a interest balance X% costs. expected the X% quarter-on-quarter. but higher And led the
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across board. were the Our results even better GAAP
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yet left to the the of servicing the slide, $XXX performance of billion amounted while On indicators installed in AUC/A summarize for wins our key we be to quarter. some the AUC/A $XXX fourth totaled billion, bottom business.
volume sales needs vary we second more be we half of of which including mix. AUC/A were client which gross number product net will -- XX% think gross to The our This attrition level about over mandates, of factors needed we each on and the a pricing trillion wins offset to Alpha of are impacted amount year. would include by look factors these ahead, of headwinds, $X.X needed normal wins. typical As year-to-year is AUC/A the and offset generating or focused
cycle and complex clients, solution XXXX, of time. sales we've the as asset In our across as So before inflation these owner segments. some and I take within some growth well mentioned strong have had top focused manager asset our services insurance more and success as client XX
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X, to fee important in the Slide let other more revenue me Turning discuss detail. lines
that Gold began, receives trading we FX for reclassified the fee the for marketing SPDR management base Global line. acting periods, ETF fees into as agent that and I Advisors the prior services you have for notice AUM the from will the Before current
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our see Our and financial fourth reporting in quarter investment in addendum, leverage. significant which our positive can generated operating you we reached segment management XX%, pre-tax margin
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metrics. Moving to growth X, revenue performance business we show Slide CRD and
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to Moving Slide XX.
slide, client XXXX of evolution On and portfolio work and the NII. left the deposits the we to of put levels MMLF growth thoughtfully as we've higher clients supported of we support to with show our the investment in
On the Tier extremely environment operating you evolution relative we and the CETX right we requirements. navigate of to our elevated leverage and show ratios, of regulatory strong as capital the challenging our levels X can with continue slide, this to see,
are authorized which $XXX $XXX the common Board optimizing in XQ. We're benefit of stock, the program repurchase will the line the new million a share have redeeming is that noted, stockholders starting in our to excited new stack also common our limits. first million for Ron and As quarter, capital Fed we with which pref by up to
in quarter you our and detail. see XXXX XX, year full XQ fourth 'XX covered summary I've of Slide to already a Turning results. could
returns. words that around been and full me to we've results, growth and a say on journey let turn given improve So margins our about year a few
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let it. me So get into
outlook year our the of cover XXXX. full to XX, first thoughts as let well provide Slide some Turning as XXXX me quarter on
rates the speeds. which is outlook I around in markets year. views of to full our as slowing the volatility, forwards and trading that with current to the point our anticipates underlying well level, me assuming percentage market from X macro modestly modest line in to curve as growth some point and yield rate share As businesses. end assumptions our a X steepening relatively We're the also there do, short current prepayment equity XXXX, At normalized remain impacts flat, for assumes usually some first let
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in FX first low early last to the be to year due fee Regarding year-over-year quarter the trading the the such digits by XXXX, pandemic down single of the March. down revenue days outsized as headwinds X%, given to revenues of saw perhaps in we we expect volatility
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driven assumptions rates first there Regarding range continued we expect that NII be count sequentially, of significantly. assuming do and and somewhat should to stabilize and quarter day of our change XX% impact the by down not lower XXXX, about rate be bound,
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expenses first be quarter. this of expect the first the with in Regarding XXXX, the with seasonal to largely and occurring guide year-over-year in usually line expenses quarter consistent we
to Taxes be hand for during also credit the in third range of Ron. losses of XX% was built releases in XXXX. We what with the of XXXX And XXXX. provisions call for least to expect back let XX% at a me should that,
