Investment Highlights
Significant Growth Opportunity within Investment Banking, Institutional Brokerage and Asset Management
Stable Diversified Earnings Stream Supported by Balance Sheet Returns
Strong, Highly Liquid Balance Sheet: Equity of Approximately $1 Billion
Top 10 Lead Manager of U.S. Equities
Number One Aftermarket Underwriting Performance for the One and Five Year Periods Ended December 31, 2002 and Year to Date 2003
One of the Most Efficient Cost Structures in the Industry
Greater than 30% Revenue Compound Annual Growth Rate
Positioned for Continued Growth with Stable Dividend Income through Period of High Volatility