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Revenues and Business Information - Revenues and Business Information (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Segment Reporting Information [Line Items]    
Investment banking $ 158,998 $ 141,061
Institutional brokerage 89,143 34,965
Interest income 6,065 7,567
Investment income/(loss) (13,826) 1,592
Total revenues 240,380 185,185
Interest expense 4,212 2,643
Net revenues 236,168 182,542
Non-interest expenses 270,197 159,405
Pre-tax income/(loss) $ (34,029) $ 23,137
Pre-tax margin (14.40%) 12.70%
Intangible asset amortization $ 9,878 $ 753
Advisory services    
Segment Reporting Information [Line Items]    
Investment banking 111,226 114,879
Corporate financing    
Segment Reporting Information [Line Items]    
Investment banking 25,176 13,516
Municipal financing    
Segment Reporting Information [Line Items]    
Investment banking 22,596 12,666
Equity brokerage    
Segment Reporting Information [Line Items]    
Institutional brokerage 47,853 15,906
Fixed income services    
Segment Reporting Information [Line Items]    
Institutional brokerage $ 41,290 $ 19,059