Cowen Expands Tasks of Equity Head to Include Credit Sales and ‎Trading ‎Platforms

Cowen Inc. (NASDAQ:COWN) today announced that Philip Cushman, the company’s managing director and head of equity sales, has been named Head of Global Institutional Sales. His executive oversight responsibility for the equity is now expanded to include institutional equity and credit sales teams.

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The company is consolidating under Cushman the responsibility for strategic oversight of multiple departments handling its equity and credit sales, trading platforms and related field services.

Philip joined Cowen from Jefferies back in 2012. Most recently, he served with Jefferies as head of global equity product management. Prior to Jefferies, he worked as an executive director in Morgan Stanley’s equity sales group.

The company also announced that Burton Welly has been promoted to Head of Special Situations and Distressed Credit Trading, increasing his responsibilities to include all distressed credit trading initiatives.

Cowen Inc. provides alternative investment management, investment banking, research, and sales, and trading services through its broker-dealer business and alternative investment management unit.

Dan Charney, Co-President of Cowen and Company, commented: “Phil has played a key role in driving team goals, helping shape Cowen’s growth initiatives and positioning the firm as a market leader. By expanding Phil’s current oversight of Cowen’s institutional equity sales team to now include the credit sales team, Phil will continue to work closely with the sales teams to deliver best-Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term and facilitate seamless access across equity and credit products, while further integrating our client coverage teams.”

Larry Wieseneck, Co-President, added: “Cowen was one of the first firms to launch a truly integrated equity and debt sales and Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, delivering cross capital structure research, sales and trading to our clients. Burt has been a driving force behind the success of our special situations business. In his new capacity, we anticipate his energy and leadership will continue to be huge assets to our credit and special situations trading businesses.”