Cowen and Company's rich history reflects the focus and entrepreneurial spirit that continues to characterize our firm.  What started in 1918 as a small bond brokerage business in the heart of New York’s financial district has grown into a leading investment bank focused on the needs of growing companies in the Health Care, Technology, Media & Telecommunications, Consumer, and Aerospace & Defense sectors.  As Cowen continues to grow and prosper, we are excited about the opportunities that lie ahead in helping clients realize their strategic objectives.

Key Milestones in the Cowen Growth Story

1918    Cowen & Company founded by Harry Cowen and Arthur Cowen Sr. as a small bond brokerage firm at 120 Broadway in New York City.

1920’s  Cowen joins the New York Stock Exchange and begins clearing and execution services for correspondent clients.

1930’s   In 1933, the firm relocates to 54 Pine Street in New York City.

1940’s  Cowen establishes leadership position as a specialist in railroad bonds.

1950’s  Cowen adds clients and staff during America’s period of expansion.

1960’s  Cowen relocates to 45 Wall Street and launches a research and institutional sales business.

1970’s  Cowen expands significantly, opening six offices across the U.S. and relocating headquarters to One Battery Park Plaza in New York City.  Cowen also embarks upon a period of acquisitions that expand its business offerings.  In 1970, Cowen enters the retail business by acquiring Greene & Ladd, and adds to the business in 1977 with the purchase of Hardy & Company.  In 1976, Cowen acquires G.S. Grumman in Boston, a major institutional research firm specializing in Technology and Health Care.

1980’s  International expansion in London, Tokyo, Geneva, and Paris gives Cowen a significantly larger footprint, as does further U.S. expansion, including an office in San Francisco.  In 1986, Cowen starts its investment banking business and expands the retail business with the acquisition of Freehling & Company in Chicago. 

1990’s   Cowen grows the investment banking business: in 1990, Cowen offered  five IPOs and follow-ons for approximately $200 million; this grew to nearly 80 transactions and $5 billion in proceeds by 1995.  More impressively, the firm’s lead-managed transactions account for 33% of the business.  The firm opens an office in Toronto, expands research to include Media and Entertainment, and celebrates its 75th anniversary.  Convertible sales and trading further enhance the services Cowen provides its clients.  In 1998, France's Société Générale establishes a U.S. presence by acquiring Cowen to form SG Cowen Securities Corporation.

2000’s   SG Cowen sells its retail operations to further focus on its core businesses of investment banking and research.  SG Cowen adds a third growth sector with the addition of a complete consumer team of bankers, research analysts and traders. SG Cowen’s Investment Banking business continues to gain significant share in its focus sectors and grows its lead managed transactions to approximately 40% of all deals.  Société Générale, the parent company of SG Cowen, agrees to carve out the Cowen businesses through an initial public offering. In July 2006, Cowen Group, Inc. becomes a public company.  By separating, Cowen is given the opportunity to focus on its own platform by adding new products to serve existing clients, adding professionals to existing sectors, and adding new sectors and business lines. Cowen is traded under the symbol “COWN.”