Diversified international monetary providers platform Marex right this moment introduced the completion of its acquisition of Cowen’s prime brokerage and outsourced buying and selling enterprise, extending its international capabilities and shopper base.
The transaction, initially introduced in September 2023, brings a group of round 160 folks from the acquired enterprise from throughout eight places of work worldwide in addition to all clearing counterparties, buying and selling and reporting applied sciences.
Now a part of Marex Capital Markets, the enterprise will proceed to be led by Jack Seibald and Mike Rosen who’ve run the enterprise since its inception within the mid-Nineties, promoting to Cowen in 2015. Along with being World Co-Heads of Marex’s Prime Brokerage Companies and Outsourced Buying and selling, Jack Seibald and Mike Rosen have additionally been appointed to Marex’s Administration Government Committee.
Jack Seibald, World Co-Head of Prime Brokerage Companies and Outsourced Buying and selling, commented:
“We sit up for delivering vital advantages to shoppers of the mixed organisations by means of our joint service providing and geographical attain. Importantly for our shoppers, the seamless switch to Marex means they are going to be interacting with the identical prime brokerage and outsourced buying and selling groups they’ve developed relationships with and utilizing the identical buying and selling and reporting applied sciences, guaranteeing full continuity of service. With the extra sources supplied by Marex, we can speed up the event of options for our shoppers, together with buying and selling capabilities throughout extra asset lessons and markets enlargement across the globe.”
Mike Rosen, World Co-Head of Prime Brokerage Companies and Outsourced Buying and selling, added:
“Marex’s tradition, the place partnering with and supporting shoppers is a precedence, is completely aligned with our personal long-standing rules. We additionally share a typical objective of catering to the wants of all kinds of shopper sorts on a world foundation. Our group is already well-known for the depth and breadth of its buying and selling capabilities together with our international multi-asset class experience. We consider that, as a part of Marex, there shall be vital alternatives to speed up our international enlargement and additional strengthen the capabilities of our prime brokerage and outsourced buying and selling companies.”
Paolo Tonucci, CEO of Capital Markets at Marex, stated:
“Cowen’s prime brokerage and outsourced buying and selling enterprise is famend for offering an distinctive international market main service. This well-established enterprise is a perfect addition to our Capital Markets division as we proceed to diversify our providing, including new merchandise, providers and asset class protection. This acquisition bolsters Marex’s provision of important market infrastructure that connects shoppers to markets and in addition creates alternatives to supply extra providers to a brand new set of shoppers.”
Marex Prime Companies and Marex Outsourced Buying and selling supply a full vary of providers together with multi-asset-class custody, excessive and low contact execution, financing options, safety lending, and associated expertise options, and capital introduction.
Marex’s Capital Markets enterprise was fashioned in 2022 following the acquisition of ED&F Man Capital Markets to supply a full service providing in equities, fastened earnings, FX, charges, and financing.
Marex Prime Companies operates each a direct and launched prime brokerage enterprise. That is complementary to Marex’s clearing providing, by leveraging Marex’s in depth, international multi-asset class direct clearing capabilities. Marex Outsourced Buying and selling offers buying and selling and execution providers to hedge fund and conventional funding supervisor shoppers in addition to household places of work and also can leverage the clearing capabilities of Marex.