Thursday, March 23, 2023

TD broadens U.S. operations by sealing Cowen deal

TD Securities will profit from the mixing of Cowen’s 1,700 good coworkers and its excellent management staff by this transaction. Upon completion of the transaction, Jeffrey Solomon, Chair & CEO of Cowen, will change into a member of the senior administration staff of TD Securities and can report back to Riaz Ahmed, President and CEO of TD Securities and Group Head, Wholesale Banking, TD Financial institution Group.

“Collectively, we can have greater than 6,500 professionals in 40 cities throughout the globe, extending our attain into new trade protection areas and constructing even deeper, long-term shopper relationships,” Ahmed mentioned. “I look ahead to welcoming Jeff and his staff to TD Securities and to the unbelievable alternatives for development we are going to create collectively.”

Following the closure, a number of the merged firm will function as TD Cowen, a department of TD Securities, beneath the management of Solomon to capitalize on the ability of Cowen’s model.

“At Cowen our success comes from striving to outperform in all we do by exceeding expectations and offering revolutionary options to, and partnering with, our purchasers. Taking this step will make us even stronger and more practical in serving their rising wants,” Solomon mentioned.

“The strategic selections and targeted investments that we’ve got revamped the previous few years have positioned Cowen for this thrilling subsequent chapter of our development. I look ahead to having our distinctive expertise and valued purchasers be a part of the TD household. We plan to do nice issues collectively as a result of we’re aligned with our cultural values of imaginative and prescient, empathy, sustainability, and tenacious teamwork,” he added.

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