Cowen has named two co-presidents in newly created roles at its investment banking unit.
The firm’s head of equities, Dan Charney, and Larry Wieseneck, previously chief operating officer and head of merchant banking at Roundtable Investment Partners, will become co-presidents of Cowen and Co., according to a statement. Wednesday from Cowen. They will report to the investment banking unit’s chief executive officer, Jeffrey Solomon.
New York-based Cowen has two main businesses, alternative investment management and investment banking. As co-presidents of Cowen and Co., Charney will manage the equities, prime brokerage and securities lending divisions, while Wieseneck will oversee Cowen’s investment banking, capital markets and credit divisions.
“Today’s announcement reflects Cowen’s focus on ensuring organizational alignment with our long-term strategic objectives and near term goals and responsibilities,” Peter Cohen, CEO of Cowen, said in the statement.
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Cowen also created a management committee, which will include Charney and Wieseneck, to execute the firm’s long-term strategy, according to the statement.
Under Charney’s leadership over the past five and a half years, Solomon said Cowen’s equity sales and trading business has become one of the industry’s fastest growing. Charney joined the firm from Jefferies Group in 2012, a spokesperson for Cowen said.
Before Roundtable, Wieseneck worked at Barclays and Lehman Brothers Holdings, according to the Cowen statement. “His broad product and market experience will provide excellent perspective as the organization moves into our next phase of growth,” Solomon said.