XML 41 R25.htm IDEA: XBRL DOCUMENT v3.3.1.900
Cost Saving Initiatives
 12 Months Ended
Dec. 31, 2015
Restructuring and Related Activities [Abstract]  
Cost Saving Initiatives
16. COST SAVING INITIATIVES

In October 2012, the Company announced cost saving initiatives (the “Cost Saving Initiatives”) relating to the Company’s operations. These initiatives included streamlining our corporate structure and consolidating support functions; realigning our investments into areas with potential for the greatest long-term return; the settlement of certain contractual obligations; reducing occupancy costs; and creating greater flexibility to retain and attract the best people and invest in new growth areas.

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