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Thomas Robert Donahue - Chief Financial Officer, Vice president, Treasurer, President of FII Holdings Inc and President of Federated Investors Management Company
Deborah A. Cunningham - Chief Investment Officer of Taxable Money Markets, Senior Vice President and Senior Portfolio Manager
Kenneth B. Worthington - JP Morgan Chase & Co, Research Division
Michael S. Kim - Sandler O'Neill + Partners, L.P., Research Division
William R. Katz - Citigroup Inc, Research Division
Cynthia Mayer - BofA Merrill Lynch, Research Division
Matthew Kelley - Morgan Stanley, Research Division
Bulent S. Ozcan - RBC Capital Markets, LLC, Research Division
Greggory Warren - Morningstar Inc., Research Division
Marc S. Irizarry - Goldman Sachs Group Inc., Research Division
Roger A. Freeman - Barclays Capital, Research Division
Robert Lee - Keefe, Bruyette, & Woods, Inc., Research Division
Edwin G. Groshans - Height Analytics, LLC
Greetings, and welcome to the Federated Investors Management Company Second Quarter 2012 Analyst Call and Webcast. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Raymond J. Hanley, President of Federated Investors Management Company. Thank you. Sir, you may begin.
Good morning and welcome. Today, we plan some brief remarks before opening up for your questions. Leading today's call will be Chris Donahue, Federated CEO; and Tom Donahue, Chief Financial Officer.