Description
TD Cowen, is an American multinational investment bank and financial services division of TD Securities that operates through two business segments: a broker-dealer and an investment management division.
The company's broker-dealer division offers investment banking services, equity and credit research, sales and trading, global prime brokerage, outsourced trading, global clearing and commission management services. Cowen's investment management segment offers actively managed alternative investment products. Founded in 1918, the firm is headquartered in New York and has offices worldwide. Cowen claims it is known for successfully identifying emerging industries early on, especially the emerging cannabis industry.
On August 2, 2022, Toronto-Dominion Bank announced it would acquire Cowen for US$1.3 billion. The acquisition finalized in March 2023.