Saturday, 22 November 2014
Last updated 17 hours ago
May 9 2011 | 1:04pm ET
Cowen Group, the boutique investment bank that reverse-merged with hedge fund Ramius Capital in 2009, swung to a (small) profit in the first quarter.
The New York-based firm said improved earnings by its investment bank helped it erase a $13 million net loss in the year ago period. Cowen said net income during the first three months of 2011 was $82,000, as revenue rose 14% to $64.2 million.
Most of that increase was attributed to investment banking, where revenue more than doubled during the quarter.
"Our investment banking unit continued to show signs of progress, principally driven by our underwriting business which benefited from favorable equity market conditions during the quarter," CEO Peter Cohen said.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...