- On April 5th, Cowen completed its acquisition of Algorithmic Trading Management (“ATM”), a provider of global, multi-asset class algorithmic execution trading models
- Broker-dealer segment revenues increased by 9% in the 2012 second quarter compared to the prior year period
- Investment banking revenues were $16.3 million, a $1.9 million increase from the prior year period. The increase was driven by our debt capital markets product, which generated $5.6 million in the current quarter compared to $1.8 million in the 2011 full-year
- Brokerage revenues were $24.6 million, flat compared to the 2011 second quarter
- Assets under management increased by $1.3 billion to $11.5 billion at July 1, 2012 compared to April 1, 2012 driven by inflows for our cash management product
- Excluding cash management, assets under management decreased by $183 million during the quarter
- The Company's non-compensation expenses in the 2012 second quarter decreased by $7.3 million compared to the prior year period, including a $1.8 million reduction in fixed expenses
- On August 2nd, Cowen's Board of Directors approved a $15 million increase in the Company's share repurchase program
Cowen Group, Inc. Announces 2012 Second Quarter Financial Results
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