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Segment Reporting (Details)
3 Months Ended
Mar. 31, 2020
USD ($)
customer
segment
Mar. 31, 2019
USD ($)
Segment Reporting Information [Line Items]    
Number of operating segments | segment 2  
Entity-wide revenue, major customer, number | customer 0  
Revenues    
Investment banking $ 105,028,000 $ 80,106,000
Brokerage 139,362,000 97,463,000
Management fees 11,604,000 7,141,000
Incentive income 0 15,000
Investment Income 0 0
Interest and dividends 42,077,000 29,092,000
Reimbursement from affiliates 261,000 288,000
Reinsurance premiums 10,471,000 6,591,000
Other revenues 1,850,000 1,061,000
Total revenues 313,809,000 224,097,000
Interest expense 38,792,000 29,084,000
Total net revenues 275,017,000 195,013,000
Expenses    
Non-interest expense 228,439,000 221,001,000
Total expenses 231,153,000 222,483,000
Other income (loss)    
Total other income (loss) (117,148,000) 40,942,000
Income tax expense (benefit) (1,173,000) 3,177,000
Net Income (Loss) Attributable to Noncontrolling Interest (62,188,000) 512,000
Economic Income (Loss) / Net income (loss) attributable to Cowen Group, Inc. (9,923,000) 9,783,000
Preferred stock dividends 1,698,000 1,698,000
Net income (loss) attributable to Cowen Inc. common stockholders (11,621,000) 8,085,000
Consolidated Funds    
Revenues    
Total revenues 3,156,000 2,340,000
Expenses    
Total expenses 2,714,000 1,482,000
Other income (loss)    
Net Income (Loss) Attributable to Noncontrolling Interest (62,315,000) 400,000
Operating Company    
Revenues    
Management fees 11,346,000 6,643,000
Incentive income 0 0
Asset Company    
Revenues    
Management fees 258,000 498,000
Incentive income 0 15,000
Operating Segments    
Revenues    
Investment banking 98,759,000 82,991,000
Brokerage 132,672,000 111,872,000
Management fees 14,915,000 10,431,000
Incentive income (4,889,000) 16,747,000
Investment Income (31,104,000) 10,269,000
Interest and dividends 0 0
Reimbursement from affiliates 0 0
Reinsurance premiums 0 0
Other revenues 562,000 1,159,000
Total revenues 210,915,000 233,469,000
Interest expense 7,778,000 6,564,000
Total net revenues 203,137,000 226,905,000
Expenses    
Non-interest expense 211,925,000 208,910,000
Total expenses 211,925,000 208,910,000
Other income (loss)    
Total other income (loss) 0 0
Income tax expense (benefit) 0 0
Net Income (Loss) Attributable to Noncontrolling Interest 1,740,000 1,023,000
Economic Income (Loss) / Net income (loss) attributable to Cowen Group, Inc. (10,528,000) 16,972,000
Preferred stock dividends 1,698,000 1,698,000
Net income (loss) attributable to Cowen Inc. common stockholders (12,226,000) 15,274,000
Other Depreciation and Amortization 5,434,000 4,956,000
Economic Operating Income (6,792,000) 20,230,000
Operating Segments | Consolidated Funds    
Revenues    
Total revenues 0 0
Expenses    
Total expenses 0 0
Operating Segments | Operating Company    
Revenues    
Investment banking 98,759,000 82,991,000
Brokerage 132,672,000 111,872,000
Management fees 14,711,000 9,728,000
Incentive income (2,487,000) 16,637,000
Investment Income (19,449,000) 9,427,000
Interest and dividends 0 0
Reimbursement from affiliates 0 0
Reinsurance premiums 0 0
Other revenues 562,000 1,123,000
Total revenues 224,768,000 231,778,000
Interest expense 6,343,000 5,317,000
Total net revenues 218,425,000 226,461,000
Expenses    
Non-interest expense 211,066,000 206,531,000
Total expenses 211,066,000 206,531,000
Other income (loss)    
Total other income (loss) 0 0
Income tax expense (benefit) 0 0
Net Income (Loss) Attributable to Noncontrolling Interest 1,740,000 1,023,000
Economic Income (Loss) / Net income (loss) attributable to Cowen Group, Inc. 5,619,000 18,907,000
Preferred stock dividends 1,358,000 1,375,000
Net income (loss) attributable to Cowen Inc. common stockholders 4,261,000 17,532,000
Other Depreciation and Amortization 5,428,000 4,939,000
Economic Operating Income 9,689,000 22,471,000
Operating Segments | Operating Company | Consolidated Funds    
Revenues    
Total revenues 0 0
Expenses    
Total expenses 0 0
Operating Segments | Asset Company    
Revenues    
Investment banking 0 0
Brokerage 0 0
Management fees 204,000 703,000
Incentive income (2,402,000) 110,000
Investment Income (11,655,000) 842,000
Interest and dividends 0 0
Reimbursement from affiliates 0 0
Reinsurance premiums 0 0
Other revenues 0 36,000
Total revenues (13,853,000) 1,691,000
Interest expense 1,435,000 1,247,000
Total net revenues (15,288,000) 444,000
Expenses    
Non-interest expense 859,000 2,379,000
Total expenses 859,000 2,379,000
Other income (loss)    
Total other income (loss) 0 0
Income tax expense (benefit) 0 0
Net Income (Loss) Attributable to Noncontrolling Interest 0 0
Economic Income (Loss) / Net income (loss) attributable to Cowen Group, Inc. (16,147,000) (1,935,000)
Preferred stock dividends 340,000 323,000
Net income (loss) attributable to Cowen Inc. common stockholders (16,487,000) (2,258,000)
Other Depreciation and Amortization 6,000 17,000
Economic Operating Income (16,481,000) (2,241,000)
Operating Segments | Asset Company | Consolidated Funds    
Revenues    
Total revenues 0 0
Expenses    
Total expenses 0 0
Adjustments | Funds Consolidation    
Revenues    
Investment banking 0 0
Brokerage 0 0
Management fees (678,000) (501,000)
Incentive income 0 (544,000)
Investment Income 0 0
Interest and dividends 0 0
Reimbursement from affiliates (25,000) (34,000)
Reinsurance premiums 0 0
Other revenues 0 0
Total revenues 2,453,000 1,261,000
Interest expense 0 0
Total net revenues 2,453,000 1,261,000
Expenses    
Non-interest expense 0 0
Total expenses 2,714,000 1,482,000
Other income (loss)    
Total other income (loss) (62,054,000) 621,000
Income tax expense (benefit) 0 0
Net Income (Loss) Attributable to Noncontrolling Interest (62,315,000) 400,000
Economic Income (Loss) / Net income (loss) attributable to Cowen Group, Inc. 0 0
Preferred stock dividends 0 0
Net income (loss) attributable to Cowen Inc. common stockholders 0 0
Adjustments | Funds Consolidation | Consolidated Funds    
Revenues    
Total revenues 3,156,000 2,340,000
Expenses    
Total expenses 2,714,000 1,482,000
Adjustments | Other Adjustments    
Revenues    
Investment banking [1] 6,269,000 (2,885,000)
Brokerage [2],[3] 6,690,000 (14,409,000)
Management fees [4] (2,633,000) (2,789,000)
Incentive income [4] 4,889,000 (16,188,000)
Investment Income [3],[5] 31,104,000 (10,269,000)
Interest and dividends [2],[5] 42,077,000 29,092,000
Reimbursement from affiliates [6] 286,000 322,000
Reinsurance premiums [7] 10,471,000 6,591,000
Other revenues [7] 1,288,000 (98,000)
Total revenues 100,441,000 (10,633,000)
Interest expense [5] 31,014,000 [2] 22,520,000
Total net revenues 69,427,000 (33,153,000)
Expenses    
Non-interest expense [1],[6],[8],[9] 16,514,000 12,091,000
Total expenses 16,514,000 12,091,000
Other income (loss)    
Total other income (loss) [4],[5],[9] (55,094,000) 40,321,000
Income tax expense (benefit) [8] (1,173,000) 3,177,000
Net Income (Loss) Attributable to Noncontrolling Interest (1,613,000) (911,000)
Economic Income (Loss) / Net income (loss) attributable to Cowen Group, Inc. 605,000 (7,189,000)
Preferred stock dividends 0 0
Net income (loss) attributable to Cowen Inc. common stockholders 605,000 (7,189,000)
Adjustments | Other Adjustments | Consolidated Funds    
Revenues    
Total revenues 0 0
Expenses    
Total expenses $ 0 $ 0
[1] Economic Income (Loss) presents underwriting expenses net of investment banking revenues, expenses reimbursed from clients within their respective expense category. Economic Income (Loss) also records retainer fees, relating to investment banking activities, collectible during the period that would otherwise be deferred until closing for US GAAP reporting.
[2] Economic Income (Loss) brokerage revenues included net securities borrowed and securities loaned activities which are shown gross in interest income and interest expense for US GAAP.
[3] Economic Income (Loss) recognizes gains and losses on investments held as part of the Company's facilitation and trading business within brokerage revenues as these investments are directly related to the markets business activities.
[4] Economic Income (Loss) recognizes revenues (i) net of fund start-up costs and distribution fees paid to agents, (ii) records income from uncrystallized incentive fees and (iii) the Company's proportionate share of management and incentive fees of certain real estate operating entities, the healthcare royalty business and the activist business.
[5] Economic Income (Loss) recognizes Company income from proprietary trading (including interest and dividends ) for which the majority of this activity is shown in other income (loss) for US GAAP reporting.
[6] Reimbursement from affiliates is shown as a reduction of Economic Income expenses, but is included as a part of revenues under US GAAP.
[7] Economic Income (Loss) recognizes underwriting income from the Company's insurance related activities, net of expenses, within other revenue. The costs are recorded within expenses for US GAAP reporting.
[8] Economic Income (Loss) excludes income taxes and acquisition related adjustments as management does not consider these items when evaluating the performance of the segment.
[9] Economic Income (Loss) recognizes the Company's proportionate share of expenses, for certain real estate operating entities and the activist business, for which the investments are recorded under the equity method of accounting for investments.