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Consolidated Statements of Financial Condition (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Assets    
Cash and cash equivalents $ 85,807 $ 50,602
Cash and cash equivalents segregated for regulatory purposes 25,008 27,006
Receivables:    
Customers 24,196 42,955
Brokers, dealers and clearing organizations 124,661 188,798
Securities purchased under agreements to resell 160,146 258,997
Financial instruments and other inventory positions owned 391,694 358,344
Financial instruments and other inventory positions owned and pledged as collateral 405,887 515,806
Total financial instruments and other inventory positions owned 797,581 874,150
Fixed assets (net of accumulated depreciation and amortization of $58,923 and $57,777, respectively) 21,793 21,477
Goodwill 202,352 322,594
Intangible assets (net of accumulated amortization of $21,708 and $18,232, respectively) 51,304 59,580
Other receivables 41,502 54,098
Other assets 121,371 133,530
Total assets 1,655,721 2,033,787
Liabilities and Shareholders' Equity    
Short-term financing 166,175 193,589
Bank syndicated financing 115,000 125,000
Payables:    
Customers 29,373 51,814
Brokers, dealers and clearing organizations 37,962 18,519
Securities sold under agreements to repurchase 109,080 239,880
Financial instruments and other inventory positions sold, but not yet purchased 303,504 365,747
Accrued compensation 109,588 147,729
Other liabilities and accrued expenses 34,439 73,408
Total liabilities 905,121 1,215,686
Shareholders' equity:    
Common stock, $0.01 par value: Shares authorized: 100,000,000 at December 31, 2011 and December 31, 2010; Shares issued: 19,524,512 at December 31, 2011 and 19,509,813 at December 31, 2010; Shares outstanding: 15,750,188 at December 31, 2011 and 14,652,665 at December 31, 2010 195 195
Additional paid-in capital 791,166 836,152
Retained earnings 77,535 179,555
Less common stock held in treasury, at cost: 3,774,324 shares at December 31, 2011 and 4,857,148 shares at December 31, 2010 (151,110) (203,317)
Other comprehensive income 605 727
Total common shareholders' equity 718,391 813,312
Noncontrolling interests 32,209 4,789
Total shareholders' equity 750,600 818,101
Total liabilities and shareholders' equity $ 1,655,721 $ 2,033,787