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
Acquisition
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Read this Term 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
Merger
A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d
A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d
Read this Term, 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
Acquisition
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Read this Term 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
Merger
A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d
A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d
Read this Term, 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.