Cowen has completed the integration of Cowen Execution Services’ prime brokerage business, which was acquired as part of Cowen’s acquisition of Convergex earlier this year.
FINRA approved the integration of the acquired business into Cowen’s prime services division, Cowen Prime Services, in August 2017.
Cowen’s prime services and outsourced trading activities are now consolidated and completely focused on delivering a comprehensive suite of global solutions and services that will assist our clients in their efforts to outperform their peers and benchmarks.
“Following significant efforts in recent months by personnel in both organisations, we are pleased to have finalised the integration of the acquired prime brokerage business and are confident that the combined pool of talented professionals and the enhanced capabilities of our platform will raise the caliber of the services and solutions we offer our clients,” says Mike Rosen, Cowen Managing Director and Global Co-Head of Prime Brokerage Services. “Combining the respective businesses enhances our ability to deliver these solutions through our expanded team of sales, trading, capital introduction, and client service personnel across multiple regions of the country.”
Cowen’s prime brokerage solution offers custody and clearing for virtually any asset class in dozens of markets globally and can finance portfolios and provide securities lending activities for most listed assets. Cowen also provides its clients electronic and high-touch execution solutions, including a complete outsourced trading offering with global coverage and access to more than 100 other brokerages and markets. Rounding out the firm’s comprehensive offering are the middle and back office support, shadow reporting, and portfolio analytics solutions supported by globally recognised technologies and proprietary systems, the world-class commission management solution administered by its affiliate, Westminster Research Associates, and the capital introduction and new launch consulting delivered by the firm’s experienced team.
“With the integration complete and the adoption of the best practices of each organisation, we are further distinguishing our offering to emerging funds and positioning the firm’s comprehensive solutions as a credible alternative for more established investment managers,” says Jack Seibald (pictured), Cowen Managing Director and Global Co-Head of Prime Brokerage Services. Added Seibald, “We remain committed to helping our clients navigate the changing market and industry conditions and will continue to adapt our offering to meet their needs.”
With the completion of the integration, Cowen has appointed Douglas Nelson and Michael DeJarnette Co-Heads of US Prime Brokerage Services. Kevin LoPrimo continues as Head of International Prime Brokerage.
