1 This business segment was formerly referred to as “MBS/ABS & Rates.”
2 This business segment was formerly referred to as “Corporate Credit.”
Net revenues were $8.7 million for the quarter ended June 30, 2012, an improvement of $4.2 million compared to the first quarter of 2012 and relatively flat compared to the second quarter of 2011. Net revenues were $13.3 million for the six-months ended June 30, 2012, a decline of $3.3 million compared to the prior-year period. Investment banking revenue for the three and six months ended June 30, 2012 benefitted from advisory fees of $7.5 million relating to an engagement on a transaction that closed during the quarter.The composition of the division’s investment banking revenues was as follows:
|Three Months Ended||Six Months Ended|
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