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Marex completes acquisition of TD Cowen’s legacy PB business

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Marex has completed the acquisition of TD Cowen’s prime brokerage and outsourced trading business, which will now be integrated into the London-headquartered commodities broker’s capital market division, according to a report by Finance Feeds.

The division was established following the acquisition of ED&F Man Capital Markets in 2022.

The acquisition includes approximately 160 staff members from the Cowen business, who work across eight international offices, as well as the transfer of all clearing counterparties, and trading and reporting technologies associated with the business.

The acquired business will continue to be lead by Jack Seibald and Mike Rosen, who have headed up the operation since its early days in the mid-1990s and continued through its sale to Cowen in 2015. In their new positions at Marex, the pair will serve as Global Co-Heads of Prime Brokerage Services and Outsourced Trading and also serve on Marex’s Management Executive Committee.

The exact financial details of the acquisition have not been disclosed, but TD Bank Group acquired the business in March in an all-cash

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