“May operating results were vibrant despite a choppy market,” said CEO Paul Reilly, left, in a press release. “Securities commissions and fees were up 15% over last year’s May and up 2.4% over last month.”
Total assets under administration grew 20% year over year to $282 billion in May 2011, though they were flat vs. April 2011. And assets under management were up 30% year over year to $36.9 billion.
“Although the market suffered declines in late May, the combination of a significant percentage of our assets on advance billings and strong net inflows of client assets kept our operating metrics stronger than the market,” explained Reilly. “The Howe Barnes acquisition alone added $1 billion to our assets under administration.
The number of lead-managed deals was up in equity-capital markets, though M&A activity weaker in May vs. April, the company says. The fixed-income business continued its steady performance in May, however, bank-loan balances were flat over last May and last month at about $6.1 billion.
“The June market has been very challenging, especially for our capital-markets businesses,” Reilly said. “Although backlog is solid, activity has slowed due to the volatile stock market and the low interest rate environment.”
In mid-June, Raymond James named Bella Loykhter Allaire, formerly chief information officer of UBS, its new head of technology and operations.