PIMCO Advisors Holdings, which acquired Oppenheimer Capital last year, saw its earnings rise 44 per cent during the quarter to $66 million. A year earlier, the company earned $45.9 million.
Legg Mason earned $20.7 million in the most recent quarter compared to $15.3 million in the December quarter of 1996. The Baltimore mutual fund company's revenue grew 36 per cent to $227.1 million, from the $167.3 million in revenue it had a year earlier.
The rise in profits reflected the strong performance
Waters Wavelength Podcast Episode 97: C-Level Execs Talk Bitcoin, Fintechs, Cognitive Computing & Open-Source Tech
In separate interviews, executives from AQR, JPMorgan, Cboe and IBM discuss topics permeating the capital markets.Subscribe to Weekly Wrap emails
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