Marex Financial Growth: Strategic Cowen’s Prime Acquisition!

Marex, a diversified global financial services platform, has successfully concluded the acquisition of Cowen’s prime brokerage and outsourced trading business, fostering growth and expansion. The transaction, first announced in September 2023, marks a significant step for Marex in broadening its global capabilities and expanding its client base.

The acquisition brings approximately 160 professionals from Cowen’s business, spanning eight offices globally, along with all associated clearing counterparties, trading technologies, and reporting systems. The acquired business will now operate under the umbrella of Marex Capital Markets, with leadership continuity provided by Jack Seibald and Mike Rosen, who have led the business since its inception in the mid-1990s. The duo, now Global Co-Heads of Marex’s Prime Brokerage Services and Outsourced Trading, will also join Marex’s Management Executive Committee.

Marex Acquisition Cowen’s Prime!

Jack Seibald, commenting on the development, expressed enthusiasm about the joint service offering and extended geographical reach resulting from the merger. He emphasized the seamless transition for clients, ensuring continuity in interactions with familiar teams and technologies. With Marex’s added resources, Seibald anticipates accelerated development of solutions, including expanded trading capabilities across various asset classes and global market expansion.

Mike Rosen echoed Seibald’s sentiments, highlighting the alignment of Marex’s culture with their own principles of client partnership and support. He sees the collaboration as an opportunity to leverage Marex’s global presence to strengthen their prime brokerage and outsourced trading businesses further.

Paolo Tonucci, CEO of Capital Markets at Marex, lauded Cowen’s business for its exceptional global market-leading service. The acquisition aligns with Marex’s strategy to diversify its offering and enhance its market infrastructure, adding new products, services, and asset class coverage. Tonucci sees the move as an opportunity to cater to a wider range of clients.

Marex Prime Services and Marex Outsourced Trading, part of the Capital Markets division formed in 2022, offer a comprehensive range of services, including multi-asset-class custody, high and low-touch execution, financing solutions, security lending, and related technology services. Moreover, The acquisition strengthens Marex’s position in equities, fixed income, FX, rates, and financing.

Marex Prime Services operates both a direct and introduced prime brokerage business, complementing Marex’s existing clearing capabilities. Marex Outsourced Trading provides trading and execution services to hedge funds, traditional investment managers, and family offices and leverages Marex’s global multi-asset class direct clearing capabilities.

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