Saturday, 20 September 2014
Last updated 1 day 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.