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.
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 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, 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.”