Jeffrey M. Solomon was named CEO of money manager and investment bank Cowen Inc., the company announced Friday.
Mr. Solomon is currently Cowen's president and will retain those responsibilities, spokeswoman Lynda Caravello said. He will become CEO on Dec. 27.
Mr. Solomon will replace Peter A. Cohen as CEO; Mr. Cohen will remain chairman of the company. Mr. Cohen has been CEO and chairman at Cowen since 2009 when the firm merged with alternative investment manager Ramius, which Mr. Cohen founded.
Cowen subsidiary Cowen Investment Management had $10.4 billion in assets under management as of Oct. 1, Ms. Caravello said.