Marex acquires Cowen鈥檚 prime brokerage and trading business
01 December 2023 US
Image: 鏄� 鍛�
Marex, the global financial services platform, has acquired Cowen鈥檚 prime brokerage and trading business, extending its global capabilities and client base.
The transaction brings a team of around 160 people from Cowen from eight offices worldwide, as well as all clearing counterparties, trading and reporting technologies.
As part of Marex Capital Markets, Cowen will continue to be led by Jack Seibald and Mike Rosen, who have run the business since its inception in the mid-1990s.
Alongside their role as global co-heads, Seibald and Rosen have been appointed to Marex鈥檚 management executive committee.
Formed in 2022, Marex Capital Markets offers services in equities, fixed income, FX, rates and financing.
Commenting on the acquisition, Seibald says: 鈥淭he transfer to Marex means [our clients] will be interacting with the same teams they have developed relationships with and using the same trading and reporting technologies, ensuring complete continuity of service.
鈥淎s part of Marex, there will be significant opportunities to accelerate our global expansion and further strengthen the capabilities of our prime brokerage and outsourced trading businesses.鈥�
Paolo Tonucci, CEO of Capital Markets at Marex, says: 鈥淭his well-established business is an ideal addition to our Capital Markets division as we continue to diversify our offering, adding new products, services and asset class coverage.鈥�
The transaction brings a team of around 160 people from Cowen from eight offices worldwide, as well as all clearing counterparties, trading and reporting technologies.
As part of Marex Capital Markets, Cowen will continue to be led by Jack Seibald and Mike Rosen, who have run the business since its inception in the mid-1990s.
Alongside their role as global co-heads, Seibald and Rosen have been appointed to Marex鈥檚 management executive committee.
Formed in 2022, Marex Capital Markets offers services in equities, fixed income, FX, rates and financing.
Commenting on the acquisition, Seibald says: 鈥淭he transfer to Marex means [our clients] will be interacting with the same teams they have developed relationships with and using the same trading and reporting technologies, ensuring complete continuity of service.
鈥淎s part of Marex, there will be significant opportunities to accelerate our global expansion and further strengthen the capabilities of our prime brokerage and outsourced trading businesses.鈥�
Paolo Tonucci, CEO of Capital Markets at Marex, says: 鈥淭his well-established business is an ideal addition to our Capital Markets division as we continue to diversify our offering, adding new products, services and asset class coverage.鈥�
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