Cowen Inc. (NASDAQ: COWN), a diversified financial firm focusing on alternative investment management, investment banking, research, and sales and trading services has announced the appointment of Philip Cushman, the company’s managing director and head of equity sales as Head of Global Institutional Sales. His new role will include managing both institutional equity and credit sales teams.
Under his leadership and strategic oversight on multiple departments, Cowen has been consolidating its several business operations including equity and credit sales, trading platforms and related field services. Cushman joined Cowen back in 2012 from Jefferies, where he was serving as a Managing Director and Head of Global Equity Product Management and as well as a member of Jefferies’ Equity Operating Committee. Prior to joining Jefferies, he was at Morgan Stanley’s Equity Sales group as Executive Director and has also worked at WR Hambrecht + Co, where he was the Head of New York Institutional Sales division.
The company has also announced the elevation of Burton Welly as Head of Special Situations and Distressed Credit Trading, expanding his responsibilities to include all Distressed Credit trading initiatives. Burton joined Cowen back in 2016, as part of Cowen’s acquisition of CRT Capital, where he spent over 14 years to establish its Special Situation and Reorg Equity business.
Dan Charney, Co-President, Cowen and Company commented on expanding on Philip’s role: “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, Cowen and Company commented: “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.”