Deutsche Bank's former head of prime brokerage Americas sales joins Cowen to bolster global securities finance division.
Matthew Penfold joins Cowen in London as a US sales trader after more than nine years with Macquarie in a similar role.
Four traders have joined Cowen Execution Services as the broker-dealer looks to strengthen its portfolio trading talent.
Cowen has hired a former prime services executive from Morgan Stanley, JP Morgan and Cantor Fitzgerald to boost its New York sales team.
Cowen has hired the two former co-heads of foreign exchange, commodities and futures and BTIG to lead the expanded service.
Takeover comes just weeks after GPP said it would shutter its prime brokerage business as profit margins were contracting.
The launch includes its dark liquidity seeking routing logic, as Cowen looks to expands services across Europe.
Deutsche Bank’s head of EMEA execution services Matt Cyzer has been named CEO of Cowen Execution Services, with six of his colleagues also joining the broker-dealer.
Former Cowen prime brokerage executives set up new US business at INTL FCStone.
Bobby Croswell, managing director of outsourced trading at BITG, has joined Cowen in the same role to build out the business globally.