Thank you, Erik. Good morning everyone. We want to thank you for joining us on our 2010 year-end and fourth-quarter financial results conference call.

I will give an overview of our fourth-quarter and year-end, discuss our current market environment and then update you on the acquisition of Hudson, and finally our outlook for 2011. Then I will pass the call to our CFO, Dave Horin, who will speak in more detail about the fourth-quarter and year-to-date financial results, as well as some operating data for the first six weeks of the first quarter of 2011. We will then open the call up to your questions.

Our results for the quarter and for the full year continued to underscore the benefits derived from the diversified investing banking platform which we have worked hard to develop over the last two years as we battled through the financial crisis in early 2009, and then the market downturn that followed the flash crash in early May 2010, which lasted through the end of September 2010.

Investment banking revenue for 2010 was approximately $87 million, despite a sluggish second and third quarter. And non-GAAP net income for 2010 was $2.6 million or $0.07 per diluted share.

Assuming normal market conditions, we expect to build on our fourth-quarter investment banking performance. For the first six weeks of 2011 we have generated approximately $13 million in investment banking revenue and have completed 17 deals, raising over $390 million.

Over the past 4.5 months since the market recovery began in the early stages of the fourth-quarter, we have experienced stronger deal flow and increased volume of capital raising transactions. During this period, which includes the first six weeks of 2011, we completed 58 deals, of which roughly 70% were PIPE (and registered direct) transactions and 30% were follow-ons and IPOs.

As we continue to diversify our product offerings we have expanded our focus in the healthcare space to include IPOs, confidentially marketed public offerings, and follow-on offerings.

In the fourth quarter we priced a $20 million co-lead IPO for Ventrus Biosciences, a late-stage development stage specialty pharmaceutical company focused on the development of late-stage prescription drugs for gastrointestinal disorders. The Ventrus IPO was one of the few successful biotech IPOs in this space in quite some time.

Last week we priced a $16.5 million IPO for Kips Bay, a medical device company dedicated to providing innovative therapeutic vascular technologies to the cardiac surgeon. This was also one of the few recent successful IPOs in the medical device arena.

I highlight these three deals, because it differentiates us from most of our competitors in that we are able to execute and put away complicated transactions despite challenging market conditions in these segments.

In the China space we are holding our own despite choppy market conditions. In the first six weeks of the year we have already completed four China transactions, raising over $67 million.

Although February is typically a slow month in this region due to the Chinese New Year celebration, we are beginning to see signs of positive momentum leading up to our conference in Shanghai, which is scheduled to take place from March 6 to March 8.

Last year’s China conference, held in Beijing, was on all counts a success. We had approximately 140 presenting companies and over 1,000 investors. And since the March 2010 Beijing conference we have completed over 30 transactions in the China space.

This year the Honorable Christopher Dodd will give the keynote address. And we expect approximately 150 presenting companies, over 1,000 attendees, and have commitments for approximately 30 sponsors. Given this overwhelming reception, we expect that the conference will provide a catalyst for increased deal activity in the China space, subject to market conditions.

The results in our China investment banking business reflect the significant investments we have made in our research and banking platforms, as we have invested heavily to enhance our presence and capabilities.

All signs are that our initiatives in this space, the experienced team we have recruited and our growing brand recognition, will allow us to continue to evolve as a major firm in this region.

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