Office address: 599 Lexington Avenue, 599 Lexington Ave Fl 20, New York, NY 10022
Website: www.cowen.com
Year established: 1918
Company type: investment bank and financial services
Employees: 1,700+
Expertise: investment bank, markets, research, emerging markets, alternative investments, investment management, outsourced trading, prime brokerage, consumer, health care, industrials, business services, media and telecom, verticalized software, data and analytics
Parent company: TD Securities, Toronto Dominion Holdings (USA), Inc.
Key people: Tim Wiggan (CEO), Bob Dorrance (chairman), Glenn Gibson and Larry Wieseneck (vice chairs), Malcolm Lang (COO), Xihao Hu (CFO), Deborah Gravinese (CRO)
Financing status: N/A
TD Cowen, based in New York, is a comprehensive investment bank specializing in mergers and acquisitions, capital markets, equity execution, and industry-focused research. Known for its global expertise, the firm operates across 27 locations with a team of over 1,700 professionals. As a division of TD Securities, it serves a diverse client base with solutions tailored to meet international financial needs.
TD Cowen was established in 1918 as a bond trading firm and quickly expanded into clearing and execution services. By the 1970s, it had carved a niche in railroad bonds and grown a solid research and institutional sales business, marking its coast-to-coast expansion. In the 1980s, Cowen entered the international market and broadened its investment banking division, a period highlighted by initial public offerings and expanded service offerings.
Following its acquisition by Société Générale, the firm rebranded as SG Cowen and, after divesting certain services, continued as Cowen and Company from 2006. When Toronto-Dominion Bank announced Cowen's acquisition, they aimed to integrate Cowen’s 1,700 employees into TD Securities’ operations, extending the combined workforce to 6,500 professionals.
TD Cowen provides a wide array of financial services across several key areas:
TD Cowen operates as a client-centric financial services firm with an independent spirit and a focus on collaboration. Leveraging deep industry expertise and innovative solutions, the firm aims to support client success with a commitment to continuous growth.
TD Cowen promotes a collaborative culture that prioritizes client success and a shared drive to “Outperform.” Employees are valued for their hard work, expertise, and focus on mutual success, reflecting the firm’s dedication to high standards. Key features of their work environment include:
In line with TD Cowen's sustainability initiatives, the company’s entrepreneurial culture supports environmental, social, and governance (ESG) objectives by embedding sustainable practices throughout its operations. This approach aims to benefit employees, clients, and communities.
The firm's commitment to community involvement encourages employees to engage in volunteer efforts in arts, education, health, and human rights. The TD Cowen Volunteer Committee supports these initiatives, allowing the firm to contribute meaningfully to society.
Tim Wiggan serves as president and CEO of the company, following his tenure as co-head of global investment banking at TD Securities. Before this, Wiggan was CEO of TD Asset Management and held senior roles in institutional sales at TD Securities and RBC. He graduated with a BA from Western University and holds a CFA designation.
TD Cowen’s leadership team comprises experienced professionals overseeing strategic and operational functions across the firm’s global footprint:
In March 2024, TD Cowen held its 44th annual Health Care Conference, featuring over 400 companies discussing vital issues in health care and therapeutic advancements. The event hosted interactive panels and data-rich presentations, facilitating in-depth dialogue between investors, industry experts, and company leaders. These initiatives reflect its commitment to advancing industry insights and client engagement across financial services.
Recently, TD Cowen hosted its 8th Annual Future of the Consumer Conference, focusing on innovation in customer engagement and value creation across industries. This two-day event brought together C-Suite leaders and TD Cowen analysts to discuss trends like experiential retail, sustainability, and digital dining. Through panels and presentations, the conference highlighted emerging strategies in retail, health, and consumer sectors aimed at supporting stakeholders and enhancing brand impact.
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