Cowen Has Break-Even First Quarter

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.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note