Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues
Investment banking	$ 26,147	$ 65,233
Brokerage	50,935	35,454
Management fees	11,030	10,384
Incentive income	1,111	2,372
Interest and dividends	3,653	3,083
Reimbursement from affiliates	3,887	3,642
Other revenue	2,725	668
Consolidated Funds
Interest and dividends	1,076	244
Other revenues	475	14
Total revenues	101,039	121,094
Expenses
Employee compensation and benefits	63,181	95,864
Floor brokerage and trade execution	7,791	5,903
Interest and dividends	7,310	5,779
Professional, advisory and other fees	5,594	5,128
Service fees	2,184	1,886
Communications	4,139	3,642
Occupancy and equipment	8,005	6,828
Depreciation and amortization	3,067	2,138
Client services and business development	7,040	6,470
Other expenses	5,812	4,810
Consolidated Funds
Interest and dividends	1,120	209
Professional, advisory and other fees	302	90
Floor brokerage and trade execution	22	10
Other expenses	372	49
Total expenses	115,939	138,806
Other income (loss)
Net gains (losses) on securities, derivatives and other investments	3,188	38,991
Consolidated Funds
Net realized and unrealized gains (losses) on investments and other transactions	(2,692)	4,720
Net realized and unrealized gains (losses) on derivatives	3,102	397
Net gains (losses) on foreign currency transactions	(13)	(31)
Total other income (loss)	3,585	44,077
Income (loss) before income taxes	(11,315)	26,365
Income tax expense (benefit)	(3,320)	6,947
Net income (loss)	(7,995)	19,418
Net income (loss) attributable to redeemable non-controlling interests in consolidated subsidiaries and funds	(4,297)	2,720
Net income (loss) attributable to Cowen Group, Inc.	(3,698)	16,698
Preferred Stock Dividends	1,698	0
Net income (loss) attributable to Cowen Group, Inc. common stockholders	$ (5,396)	$ 16,698
Weighted average common shares outstanding:
Basic (in shares)	106,364	112,053
Diluted (in shares)	106,364	118,590
Earnings (loss) per share:
Earnings Per Share, Basic (in dollars per share)	$ (0.05)	$ 0.15
Earnings Per Share, Diluted (in dollars per share)	$ (0.05)	$ 0.14