Marex Group plc agreed to acquire Legacy prime brokerage and outsourced trading business of TD Cowen on September 22, 2023. The transaction is expected to complete by the end of the year, subject to customary closing conditions, including regulatory approvals. The operations acquired will branded Marex Prime Services and Marex Outsourced Trading, and will become part of Marex?s Capital Markets business. Seward & Kissel LLP acted as legal advisor to Marex Group plc. TD Securities (USA) LLC acted as financial advisor to Cowen Inc. and TD Bank. Ravi Purushotham, Jeannine McSweeney, David Blass, Meredith Abrams, Owen Lysak, David Yun, Benjamin Rippeon, William Smolinski, Lori Lesser, Steven DeLott, Peter Guryan, Mick Tuesley and Richard Jamgochian of Simpson Thacher & Bartlett LLP acted as legal advisor to TD Bank Group.

Marex Group plc completed the acquisition of Legacy prime brokerage and outsourced trading business of TD Cowen on December 1, 2023. The transaction brings a team of around 160 people from the acquired business from across eight offices worldwide. Now part of Marex Capital Markets, the business will continue to be led by Jack Seibald and Mike Rosen. Jack Seibald and Mike Rosen have also been appointed to Marex?s Management Executive Committee.