CNBS reports record quarters
OVERLAND PARK, Kansas - Corporate Network Brokerage Services, Inc. (CNBS) said that it had record transaction and advisory fee revenue for the first two quarters of 2002, though it would not reveal specific figures. CNBS President/CEO Brian Hague said, "Transaction revenue through the first half of 2002 exceeds total transaction revenue for 1998, the first year after CNBS spun off from U.S. Central." Investment advisory fees at mid-year are about 90% of 1998's total advisory fees, and are on pace to exceed last year's record fee income," said Hague. Hague also noted that the firm is beginning to generate transaction revenue from corporate credit unions as a result of the termination of the non-compete agreement between CNBS and U.S. Central. He said brokerage-client growth is expected to grow by 50% this year.