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Segment information (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Reported Revenue and Pre-Tax Income (Loss)

The tables below present information about the Company’s reported segment revenues, segment pre-tax income or loss, compensation expenses, and other segment items for the three and six months ended June 30, 2025 and 2024. There are no adjustments or reconciling items for any of the periods presented. Asset information by reportable segment is not reported, since the Company does not produce such information for internal use by the CODM.

(Expressed in thousands)
						For the Three Months Ended June 30, 2025
						Wealth Management						Capital Markets						Corporate/Other						Total
Revenue						$	246,421					$	122,981					$	3,776					$	373,178
Less :
Compensation Expenses						132,291						80,610						26,173						239,074
Other Segment Items(1)						51,296						46,235						4,363						101,894
Pre-Tax Income (Loss)						$	62,834					$	(3,864)					$	(26,760)					$	32,210

(1) Other segment items include communication and technology expenses, occupancy and equipment costs, clearing and exchange fees, interest and other expenses.

(Expressed in thousands)
						For the Three Months Ended June 30, 2024
						Wealth Management						Capital Markets						Corporate/Other						Total
Revenue						$	234,526					$	92,141					$	3,922					$	330,589
Less :
Compensation Expenses						123,538						73,290						23,899						220,727
Other Segment Items(1)						46,757						40,626						6,614						93,997
Pre-Tax Income (Loss)						$	64,231					$	(21,775)					$	(26,591)					$	15,865

(1) Other segment items include communication and technology expenses, occupancy and equipment costs, clearing and exchange fees, interest and other expenses.

(Expressed in thousands)
						For the Six Months Ended June 30, 2025
						Wealth Management						Capital Markets						Corporate/Other						Total
Revenue						$	488,407					$	246,242					$	6,354					$	741,003
Less :
Compensation Expenses						251,939						167,954						46,272						466,165
Other Segment Items(1)						105,770						87,249						8,233						201,252
Pre-Tax Income (Loss)						$	130,698					$	(8,961)					$	(48,151)					$	73,586

(1) Other segment items include communication and technology expenses, occupancy and equipment costs, clearing and exchange fees, interest and other expenses.

(Expressed in thousands)
						For the Six Months Ended June 30, 2024
						Wealth Management						Capital Markets						Corporate/Other						Total
Revenue						$	472,487					$	204,224					$	7,016					$	683,727
Less :
Compensation Expenses						239,111						154,878						48,453						442,442
Other Segment Items(1)						93,360						77,823						16,782						187,965
Pre-Tax Income (Loss)						$	140,016					$	(28,477)					$	(58,219)					$	53,320

(1) Other segment items include communication and technology expenses, occupancy and equipment costs, clearing and exchange fees, interest and other expenses.

Schedule of Revenue Classified by Major Geographic Areas

Revenue, classified by the major geographic areas in which it was earned, for the three months ended June 30, 2025 and 2024 was:

(Expressed in thousands)
			For the Three Months Ended June 30,												For the Six Months Ended June 30,
			2025						2024						2025						2024
Americas			$	358,813					$	316,467					$	713,521					$	657,884
Europe/Middle East			13,737						13,394						26,090						24,168
Asia			628						728						1,392						1,675
Total			$	373,178					$	330,589					$	741,003					$	683,727

X

- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

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X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

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