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Cost Saving Initiatives (Tables)
12 Months Ended
Dec. 31, 2013
Restructuring And Related Activities [Abstract]  
Schedule of Expenses and Cumulative Expenses Associated With Implementation of Cost Savings Initiatives

Expenses associated with the implementation of the Cost Saving Initiatives were completed during the year ended December 31, 2013. The Company incurred these expenses, by segment, as reflected in the tables below:

 

     Financial
Advisory
     Asset
Management
    Corporate      Total  

Year Ended December 31, 2013:

          

Compensation and benefits

   $ 45,746       $ 236      $ 5,417       $ 51,399   

Other

     2,033         (1     11,272         13,304   
  

 

 

    

 

 

   

 

 

    

 

 

 

Total

   $ 47,779       $ 235      $ 16,689       $ 64,703   
  

 

 

    

 

 

   

 

 

    

 

 

 
     Financial
Advisory
     Asset
Management
    Corporate      Total  

Cumulative October 2012 Through
December 31, 2013:

          

Compensation and benefits

   $ 121,879       $ 12,292      $ 17,215       $ 151,386   

Other

     3,432         732        11,729         15,893   
  

 

 

    

 

 

   

 

 

    

 

 

 

Total

   $ 125,311       $ 13,024      $ 28,944       $ 167,279   
  

 

 

    

 

 

   

 

 

    

 

 

 

Activity Related to Obligations Pursuant to Cost Saving Initiatives

Activity related to the obligations pursuant to the Cost Saving Initiatives during 2013 was as follows:

 

     Accrued
Compensation
and Benefits
    Other
Liabilities
    Total  

Balance, January 1, 2013

   $ 46,128      $ 1,714      $ 47,842   

New charges

     51,399        13,304        64,703  

Less:

      

Non-cash charges

     (12,007     (3,387     (15,394

Settlements

     (73,660     (6,275     (79,935
  

 

 

   

 

 

   

 

 

 

Balance, December 31, 2013

   $ 11,860     $ 5,356     $ 17,216