Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses

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Accrued Expenses
 3 Months Ended
Mar. 31, 2012
Accrued Expenses [Abstract]  
Accrued Expenses
10. Accrued Expenses

Accrued expenses consist of the following:

 

                 
    March 31,     December 31,  
    2012     2011  

Accrued investment manager fees

   $ 9,203     $ 8,451  

Accrued compensation and related taxes

     2,267       4,230  

Accrued professional services

     625       481  

Accrued restructuring charges

     19       290  

Other accrued expenses

     1,072       1,467  
   

 

 

    

 

 

  

Total accrued expenses

   $ 13,186     $ 14,919  
   

 

 

    

 

 

  

As a result of the EPS acquisition on December 31, 2011, the Company incurred restructuring charges, primarily severance charges related to the termination of certain EPS employees in the three months ended March 31, 2012.

In the three months ended March 31, 2012 and 2011, the Company recognized pretax restructuring charges of $27 and $10.

The summary of activity in accrued restructuring charges was as follows:

 

                         
    EPS              
    Acquisition     Other     Total  

Balance at December 31, 2011

   $ 237     $ 53     $ 290  

Restructuring provision incurred

     27       —         27  

Payments

     (255 )      (43 )      (298 ) 
   

 

 

    

 

 

    

 

 

  

Balance at March 31, 2012

   $ 9     $ 10     $ 19