Business Changes and Developments (Tables)

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Goodwill Associated with Acquisitions

Goodwill and Intangible Assets

Goodwill associated with the Company’s acquisitions is as follows:

	Investment Banking			Investment Management			Total
Balance at December 31, 2012	$	86,352		$	102,332		$	188,684
Foreign Currency Translation and Other	676			(86		)	590
Balance at December 31, 2013 (1)	87,028			102,246			189,274
Acquisitions	33,039			—			33,039
Foreign Currency Translation and Other	(6,060		)	1,979			(4,081		)
Balance at December 31, 2014	$	114,007		$	104,225		$	218,232

(1) The balance includes the net effect of the goodwill related to the consolidation and disposition of Pan.

Intangible Assets Associated with Acquisitions

Intangible assets associated with the Company’s acquisitions are as follows:

	December 31, 2014
	Gross Carrying Amount						Accumulated Amortization
	Investment Banking		Investment Management		Total		Investment Banking		Investment Management		Total
Client Related	$	47,800	$	45,830	$	93,630	$	4,006	$	27,110	$	31,116
Non-compete/Non-solicit Agreements	135		1,949		2,084		121		1,709		1,830
Other	5,320		2,245		7,565		127		662		789
Total	$	53,255	$	50,024	$	103,279	$	4,254	$	29,481	$	33,735
	December 31, 2013
	Gross Carrying Amount						Accumulated Amortization
	Investment Banking		Investment Management		Total		Investment Banking		Investment Management		Total
Client Related	$	2,300	$	45,830	$	48,130	$	1,299	$	22,559	$	23,858
Acquired Mandates	1,810		—		1,810		1,786		—		1,786
Non-compete/Non-solicit Agreements	135		1,949		2,084		94		1,314		1,408
Other	—		2,245		2,245		—		486		486
Total	$	4,245	$	50,024	$	54,269	$	3,179	$	24,359	$	27,538

Annual Amortization of Intangibles for Next Five Years

Based on the intangible assets above, as of December 31, 2014, annual amortization of intangibles for each of the next five years is as follows:

2015	$	15,277
2016	$	13,592
2017	$	12,431
2018	$	11,794
2019	$	10,286