Cowen Completes Acquisition of Convergex
Further Strengthening Cowen’s Presence in the
Marketplace
it has completed its acquisition of
for a total consideration of
transaction expenses) and is comprised of
Effective today,
and
“The acquisition of
quality research and superior global execution capabilities,” said
A. Cohen
transaction is another step forward in Cowen’s overall growth strategy.
Integrating the best of
providing its combined client base with innovative and differentiated
capabilities. As an organization focused on helping our clients
outperform, we look forward to showcasing our comprehensive service
offerings in the months ahead. Our team has worked extensively to ensure
clients experience the same high-quality service that they have come to
expect from our organizations.”
“With the closing of the acquisition, Cowen has become a leading
independent, full service, agency equity trading platform that is also a
key equity market liquidity provider,” said
President of Cowen. “We have enhanced our capabilities in electronic
trading with a broad suite of non-conflicted trading products that can
source liquidity across fragmented markets and drive substantial value
creation for our collective clients, as well as extended our
capabilities in prime services and clearing. We are also one of few
firms offering sophisticated research sales and non-research based
global execution capabilities as well as full-service investment
banking.”
As previously disclosed, combined pro forma brokerage execution revenues
were over
in U.S. trading volume and expands Cowen’s reach to 108 countries around
the globe, including
be accretive to economic income per share and return on tangible common
equity in 2018.
Cowen recently unveiled its new corporate identity across its business
segments which reflects the firm’s commitment to helping its clients
Outperform™. Cowen’s identity emphasizes the firm’s Vision to
always put its clients’ needs first; Tenacity to challenge the
norms in an effort to develop innovative offerings, and; Empathy when
interacting with its internal and external partners (www.cowen.com).
About
its consolidated subsidiaries, provides alternative asset management,
investment banking, research, sales and trading and prime brokerage
services through its two business segments:
and its affiliates make up the Company’s alternative investment segment,
while
make up the Company’s broker-dealer segment.
provides alternative asset management solutions to a global client base
and manages a significant portion of Cowen’s proprietary capital.
and Company
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
information, visit www.cowen.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170601005477/en/
Source:
Gagnier Communications
Dan Gagnier, 646-569-5897
dg@gagnierfc.com
or
Cowen
Lynda
Caravello, 212-468-7713
lynda.caravello@cowen.com