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Segment information
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Segment information Segment information
The Company has determined its reportable segments based on the Company's method of internal reporting, which disaggregates its retail business by branch and its proprietary and investment banking businesses by product. The Company evaluates the performance of its segments and allocates resources to them based upon profitability.
The Company's reportable segments are:
Private Client — includes commissions and a proportionate amount of fee income earned on assets under management ("AUM"), net interest earnings on client margin loans and cash balances, fees from money market funds, custodian fees, net contributions from stock loan activities and financing activities, and direct expenses associated with this segment; and
Asset Management — includes a proportionate amount of fee income earned on AUM from investment management services of Oppenheimer Asset Management Inc. Oppenheimer's asset management divisions employ various programs to manage client assets either in individual accounts or in funds, and includes direct expenses associated with this segment; and
Capital Markets — includes investment banking, institutional equities sales, trading, and research, taxable fixed income sales, trading, and research, public finance and municipal trading, as well as the Company's operations in the United Kingdom, Hong Kong and Israel, and direct expenses associated with this segment.

The Company does not allocate costs associated with certain infrastructure support groups that are centrally managed for its reportable segments. These areas include, but are not limited to, legal, compliance, operations, accounting, and internal audit.

Costs associated with these groups are separately reported in a Corporate/Other category and primarily include compensation and benefits.

The table below presents information about the reported revenue and pre-tax income (loss) of the Company for the three and nine months ended September 30, 2023 and 2022. Asset information by reportable segment is not reported since the Company does not produce such information for internal use by the chief operating decision maker.

(Expressed in thousands)  
 
For the Three Months Ended
September 30,
For the Nine Months Ended
September 30,
 2023202220232022
Revenue
Private client (1)
$193,254 $178,614 $597,920 $473,932 
Asset management (1)
20,830 24,870 66,987 76,302 
Capital markets94,576 90,947 264,440 247,272 
Corporate/Other4,007 (320)11,189 (145)
Total$312,667 $294,111 $940,536 $797,361 
Pre-Tax Income (Loss)
Private client (1)
$65,249 $29,973 $140,499 $92,919 
Asset management (1)
4,951 8,322 17,965 25,916 
Capital markets(15,254)2,401 (44,782)(14,368)
Corporate/Other(33,359)(33,458)(84,744)(89,185)
Total$21,587 $7,238 $28,938 $15,282 
(1)Clients investing in the OAM advisory program are charged fees based on the value of AUM.
Advisory fees are allocated 10.0% to the Asset Management and 90.0% to the Private Client segments.

Revenue, classified by the major geographic areas in which it was earned, for the three and nine months ended September 30, 2023 and 2022 was:
(Expressed in thousands)  
 
For the Three Months Ended
September 30,
For the Nine Months Ended
September 30,
 2023202220232022
Americas$299,946 $279,043 $905,232 $756,453 
Europe/Middle East12,114 13,975 33,082 36,426 
Asia607 1,093 2,222 4,482 
Total$312,667 $294,111 $940,536 $797,361