Related Parties

3 Months Ended

Mar. 31, 2013

Related Party Transactions [Abstract]

Related Parties

Related Parties

At March 31, 2013 and December 31, 2012, the Company had no amounts payable to related parties. At March 31, 2013 the Company had receivables from related parties of $0.1 million. There were no receivables from related parties at December 31, 2012.

In conjunction with the sale of certain assets of the merchant banking business, the Company agreed to sublease office space to GCP Capital for a period of three to five years beginning in April 2011. The Company also subleases airplane and office space to a firm owned by the Chairman of the Company. The Company recognized rent reimbursements of $0.4 million for both the three month periods ended March 31, 2013 and 2012, respectively, as a reduction of occupancy and equipment rental on the condensed consolidated statements of income.