Piper Jaffray, a US-based asset management and investment banking firm, has posted an adjusted net income from continuing operations of $16.9m in the third quarter of 2014, compared to $11.6m a year ago.
Adjusted net revenues from continuing operations were $155.9m, compared to $125m in the third quarter of 2013. While, advisory services revenues were $66.3m.
Adjusted pre-tax operating margin was 17.3% in the third quarter, compared to 13.9% in the year ago quarter.
Assets under management were $12.2bn at September 30, 2014, compared to $10.6 billion in the year-ago period.
Asset Management
For the quarter ended September 30, 2014, asset management generated adjusted pre-tax operating income of $7.1m, compared to $7.7m in the third quarter of 2013.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataNet revenues were $20m, up 11% compared to the third quarter of 2013. The increase compared to the year-ago period was due to higher management fees from increased assets under management (AUM) driven by net market appreciation.