In a move
to extend its global footprint, Marex, a diversified financial services
platform, has completed the acquisition of Cowen’s prime brokerage and
outsourced trading business. This move brings Marex a wealth of additional resources,
including a team of approximately 160 professionals from eight international
offices and a suite of trading and reporting technologies and clearing
counterparties.

The newly
acquired business, now part of Marex Capital Markets, will continue under the
leadership of Jack Seibald and Mike Rosen, who have been at the helm since its
inception in the mid-1990s. Their experience and expertise will be used to integrate the new services into Marex’s existing structure. Both Seibald and
Rosen have also been appointed to Marex’s Management Executive Committee.

Cowen’s
prime brokerage division provides various services, encompassing custody
for multiple asset classes, solutions for financing, securities lending,
technology offerings, and comprehensive capital services. The decision to
acquire the company was first announced over two months ago, and according to
today’s (Friday’s) statement, the acquisition was finalized.

“Our
clients can expect the same high level of service they are accustomed to, with
the added benefit of Marex’s extensive resources,” Seibald commented,
expressing optimism about the merger , emphasizing the continuity of service for
existing clients.

The
acquisition further solidifies Marex’s position in the financial services
sector. Marex Prime Services and Marex Outsourced Trading, which offer a full
range of products, including multi-asset-class custody and execution, are now
poised for growth. This move follows Marex’s formation of its Capital Markets
business in 2022.

“This
acquisition not only strengthens our market infrastructure but also broadens
our client base,” said Paolo Tonucci, the CEO of Capital Markets at Marex.

The company
recently expanded its presence in Asia and Australia by becoming an SGX member and
ASX clearing participant. According to the company, it ended the first half of
2023 with more than $11.8 billion in customer assets, clearing on 57 exchanges.

In a move
to extend its global footprint, Marex, a diversified financial services
platform, has completed the acquisition of Cowen’s prime brokerage and
outsourced trading business. This move brings Marex a wealth of additional resources,
including a team of approximately 160 professionals from eight international
offices and a suite of trading and reporting technologies and clearing
counterparties.

The newly
acquired business, now part of Marex Capital Markets, will continue under the
leadership of Jack Seibald and Mike Rosen, who have been at the helm since its
inception in the mid-1990s. Their experience and expertise will be used to integrate the new services into Marex’s existing structure. Both Seibald and
Rosen have also been appointed to Marex’s Management Executive Committee.

Cowen’s
prime brokerage division provides various services, encompassing custody
for multiple asset classes, solutions for financing, securities lending,
technology offerings, and comprehensive capital services. The decision to
acquire the company was first announced over two months ago, and according to
today’s (Friday’s) statement, the acquisition was finalized.

“Our
clients can expect the same high level of service they are accustomed to, with
the added benefit of Marex’s extensive resources,” Seibald commented,
expressing optimism about the merger , emphasizing the continuity of service for
existing clients.

The
acquisition further solidifies Marex’s position in the financial services
sector. Marex Prime Services and Marex Outsourced Trading, which offer a full
range of products, including multi-asset-class custody and execution, are now
poised for growth. This move follows Marex’s formation of its Capital Markets
business in 2022.

“This
acquisition not only strengthens our market infrastructure but also broadens
our client base,” said Paolo Tonucci, the CEO of Capital Markets at Marex.

The company
recently expanded its presence in Asia and Australia by becoming an SGX member and
ASX clearing participant. According to the company, it ended the first half of
2023 with more than $11.8 billion in customer assets, clearing on 57 exchanges.