TD Cowen's growth strategy is built on a foundation of strategic acquisitions. The company has made several key acquisitions over the years, including the purchase of the investment bank and brokerage firm, Cowen Group in 2006.
These acquisitions have helped TD Cowen expand its services and offerings to clients. TD Cowen now provides a wide range of financial services, including investment banking, research, and trading.
One notable example is the acquisition of the investment bank and brokerage firm, Cowen Group in 2006. This acquisition significantly expanded TD Cowen's capabilities and allowed it to offer a broader range of services to its clients.
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Acquisition Completion
TD Cowen has made significant strides in expanding its services through strategic acquisitions. In 2009, the company merged with Ramius LLC to form a diversified financial services company.
This merger marked the beginning of a series of acquisitions that would help shape TD Cowen into the robust financial services company it is today. In 2011, Cowen acquired LaBranche & Co., a market-maker in options, exchange-traded funds, and futures on various exchanges for around $200 million.
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Here's a list of some of the notable acquisitions made by TD Cowen:
- LaBranche & Co. (2011) - $200 million
- Algorithmic Trading Management (2012)
- KDC Securities (2012)
- Dahlman Rose & Company LLC (2013)
- Concept Capital Markets and Conifer Securities (2015)
- CRT Capital Group's credit products, credit research, special situations, and emerging markets businesses (2015)
- Convergex (2017)
- Quarton International (2018)
These acquisitions have helped TD Cowen expand its services and capabilities, allowing it to better serve its clients and stay competitive in the market.
Growth Strategy
TD Cowen has been aggressively expanding its services through strategic acquisitions. In 2009, the company merged with Ramius LLC to form a diversified financial services company.
Through these acquisitions, Cowen has established itself as a major player in the financial services industry. In 2011, Cowen acquired LaBranche & Co. for around $200 million.
Here are some key acquisitions that have contributed to Cowen's growth strategy:
- Merged with Ramius LLC in 2009
- Acquired LaBranche & Co. in 2011 for $200 million
- Acquired Algorithmic Trading Management and KDC Securities in 2012
- Acquired Dahlman Rose & Company LLC in 2013
- Entered the prime services business with the acquisitions of Concept Capital Markets and Conifer Securities in 2015
- Acquired CRT Capital Group's credit products, credit research, special situations and emerging markets businesses in 2015
- Acquired Convergex in 2017
- Acquired Quarton International in 2018
These strategic acquisitions have enabled Cowen to expand its offerings and increase its market share.
Frequently Asked Questions
What is the difference between TD Securities and TD Cowen?
TD Cowen is a marketing name for certain businesses within TD Securities, while TD Securities is the parent company regulated by the Canadian Investment Regulatory Organization of Canada. In essence, TD Cowen is a brand name under the TD Securities umbrella.
What happened to Cowen?
Cowen was acquired by Toronto-Dominion Bank in March 2023 for US$1.3 billion. This significant acquisition marked a major development in the financial services industry.
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