Cowen Completes Integration of Cowen Execution Services’ Prime Business;

Further Expands Its Global Prime Brokerage and Outsourced Trading Offerings

NEW YORK, NY — October 6, 2017 — Cowen Inc. (NASDAQ:COWN) (“Cowen” or the “Company”) today announced that it 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 LLC, 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 organizations, we are pleased to have finalized 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,” said Mike Rosen, Cowen Managing Director and Global Co-Head of Prime Brokerage Services. Added Rosen, “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 recognized 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 organization, 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,” said Jack Seibald, 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 U.S. Prime Brokerage Services. Kevin LoPrimo continues as Head of International Prime Brokerage.


About Cowen Prime Services LLC Cowen Prime Services LLC offers a comprehensive suite of brokerage and related services that provide investment managers with solutions that are customizable and scalable. The firm was built by former investment managers to serve hedge fund managers, managed account platforms, institutional investors, family offices, and registered investment advisors with turn-key solutions designed to unburden our clients of their operating responsibilities and allow them to focus on their core competencies – investing. Our offering features US prime brokerage, international prime brokerage, electronic and high-touch execution, a full outsourced trading solution, commission management, financing and stock loan, middle and back office support, pre and post trade compliance, capital introduction, new launch consulting, and portfolio and risk analytics. Cowen Prime Services was formed in 2015 following Cowen’s acquisition of Concept Capital Markets, LLC. The firm is a registered broker dealer and investment advisor with the SEC, and is a member of FINRA, NFA and SIPC.

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About Cowen Inc.

Cowen is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative asset management, investment banking, research, sales and trading, prime brokerage, global clearing and commission management through its two business segments: Cowen Investment Management and its affiliates make up the Company’s alternative investment segment, while Cowen and Company, a member of FINRA and SIPC, and its affiliates make up the Company’s broker-dealer segment. Cowen Investment Management provides alternative asset management solutions to a global client base and manages a significant portion of Cowen’s proprietary capital. Cowen and Company and its affiliates offer industry focused investment banking for growth-oriented companies, domain knowledge-driven research, a sales and trading platform for institutional investors and a comprehensive suite of prime brokerage services. Founded in 1918, the firm is headquartered in New York and has offices worldwide. For additional information, visit

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Cowen Inc.
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Dan Gagnier