Operator Good morning. And thank you for joining us to discuss Cowen's results for the fourth quarter and full year 2020. By now, you should have received a copy of the earnings release, which can be accessed at investor.cowen.com. Before we begin, the company has asked me to remind you that some of the comments made on today's call and some of the responses to your questions may contain forward-looking statements. These statements are subject to risks and uncertainties described in the company's earnings release and other filings with the SEC. Cowen has no obligation to update the information represented on today's call. Also, on today's call, our speakers will reference certain non-GAAP financial measures, which the company believes will provide useful information for investors. Reconciliation of these measures to GAAP is consistent with company's reconciliation as presented in today's earnings release.