TD Securities will profit from the mixing of Cowen’s 1,700 sensible coworkers and its excellent management workforce by means of this transaction. Upon completion of the transaction, Jeffrey Solomon, Chair & CEO of Cowen, will develop into a member of the senior administration workforce 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 business protection areas and constructing even deeper, long-term shopper relationships,” Ahmed stated. “I stay up for welcoming Jeff and his workforce to TD Securities and to the improbable alternatives for progress we’ll create collectively.”
Following the closure, among 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 progressive options to, and partnering with, our purchasers. Taking this step will make us even stronger and simpler in serving their rising wants,” Solomon stated.
“The strategic choices and targeted investments that we have now remodeled the previous few years have positioned Cowen for this thrilling subsequent chapter of our progress. I stay up for having our distinctive expertise and valued purchasers be 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.