NEW YORK (AP) -- Cowen Group Inc. on Friday said it closed its acquisition of Latitude Capital Group, a boutique investment bank headquartered in Hong Kong.

Financial terms of the buyout, which was announced in March, were not disclosed.

Latitude was renamed Cowen Latitude Asia. Its former president, Frank K. Au, was named its chief executive and a member of Cowen's investment banking operating committee.

Cowen shares gained 2 cents to $8.97 in morning trading.