...A. Highlights: 2020 was year of strong performance, as Co. successfully navigated unexpected operating backdrop, characterized by near-record volatility and correspondingly high client activity. 1. This year was marked by extraordinary decline in economic activity in 2Q brought on by COVID-19 and dramatic reversal in 3Q and 4Q as economic output and unemployment partially reversed course. a. i. This volatility contributed to severe dislocation across asset classes, which was met by profound fiscal and monetary action taken worldwide. ii. Co. met needs of clients relying on dynamic management of firm's liquidity and balance sheet to provide complex risk intermediation, financing solutions, advice and innovative thought leadership. 2. Momentum remained strong into year-end. Co. produced record revenues for 4Q of $11.7b, resulting in record quarterly EPS of $12.08. a. b. For full-year, Co. grew revenue by 22% to $44.6b, highest revenue production in more than a decade, which allowed it to...
