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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Carrying Amount Of Goodwill And Intangible Assets

The carrying amount of goodwill and intangible assets attributable to each of our reporting segments is presented in the following table (in thousands):

 

 

 

December 31,

2018

 

 

Net Additions

 

 

Write-off

 

 

December 31,

2019

 

Goodwill

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Wealth Management

 

$

340,395

 

 

$

4,586

 

 

$

 

 

$

344,981

 

Institutional Group

 

 

694,284

 

 

 

154,809

 

 

 

 

 

 

849,093

 

 

 

$

1,034,679

 

 

$

159,395

 

 

$

 

 

$

1,194,074

 

 

 

 

December 31,

2018

 

 

Net Additions

 

 

Amortization

 

 

December 31,

2019

 

Intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Wealth Management

 

$

60,532

 

 

$

 

 

$

(7,253

)

 

$

53,279

 

Institutional Group

 

 

59,123

 

 

 

58,133

 

 

 

(8,762

)

 

 

108,494

 

 

 

$

119,655

 

 

$

58,133

 

 

$

(16,015

)

 

$

161,773

 

Intangible Assets Intangible assets as of December 31, 2019 and 2018, were as follows (in thousands):

 

 

 

December 31, 2019

 

 

December 31, 2018

 

 

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

Customer relationships

 

$

198,248

 

 

$

75,987

 

 

$

160,745

 

 

$

65,254

 

Trade name

 

 

28,123

 

 

 

13,649

 

 

 

26,831

 

 

 

11,755

 

Core deposits

 

 

8,615

 

 

 

2,985

 

 

 

8,615

 

 

 

816

 

Non-compete agreements

 

 

8,319

 

 

 

2,828

 

 

 

2,603

 

 

 

1,452

 

Investment banking backlog

 

 

4,245

 

 

 

1,787

 

 

 

1,431

 

 

 

1,293

 

Acquired technology

 

 

840

 

 

 

93

 

 

 

 

 

 

 

Estimated GMP Capital intangibles (1)

 

 

10,712

 

 

 

 

 

 

 

 

 

 

 

 

$

259,102

 

 

$

97,329

 

 

$

200,225

 

 

$

80,570

 

 

(1)

See discussion regarding the allocation of the estimated goodwill and intangibles recorded for the GMP Capital acquisition.

Amortization Expense In Future Periods As of December 31, 2019, we expect amortization expense in future periods to be as follows (in thousands):

 

Fiscal year

 

 

 

 

2020

 

$

18,796

 

2021

 

 

17,686

 

2022

 

 

16,310

 

2023

 

 

15,021

 

2024

 

 

14,034

 

Thereafter

 

 

77,808

 

 

 

$

159,655