Financial services firm Cowen has announced Alan Circle and Martin Ferraro as managing directors and co-head of foreign exchange, commodities and futures in its Outsourced Trading division. In their new positions, the two men will lead an expanded service offering to the firm’s current clients, while actively extending the reach of Cowen’s outsourced trading to a broader global audience.
Both are based in New York and report to Michael Rosen and Jack Seibald, global co-heads of prime brokerage and outsourced trading and the firm says it expects to appoint additional team members in London and Hong Kong over the course of the year.
Circle and Ferraro join from BTIG where they were also co-head of FX, commodities and futures, prior to this Circle spent six years as head of global institutional FX sales at Bank of America, having previously also worked in FX at HSBC, JP Morgan and PFG Best. Ferraro, prior to BTIG was head of FX institutional sales at BNP Paribas, having previously worked in similar roles at Lehman Brothers, JP Morgan and PFG Best.
“The addition of foreign exchange, commodities and futures marks an important development for Cowen’s outsourced trading effort and continues the firm’s momentum toward establishing a complete global, multi-asset class solution for our clients,” says Rosen. “Long established in global equities, Cowen has built a strong team of dedicated personnel in the US and UK with derivatives and fixed income experience over the past year, and we will also provide world-class service in these additional asset classes.”
Seibald adds, “We are thrilled to have Alan and Marty join Cowen’s outsourced trading team, further expanding our client offering around FX, commodities and futures. As seasoned professionals with lengthy careers trading these important asset classes on both the buy- and sell-sides, Alan and Marty bring strong relationships, market knowledge and dedication to client service. These qualities align with Cowen’s philosophy and commitment to help our clients outperform by providing exceptional service and execution across asset classes.”
For their part the two hires say, “We’re very excited to combine the full depth of our foreign exchange offering and client service experience with the breadth of Cowen’s global footprint and capital markets platform. It’s a unique opportunity to join Cowen and become part of a firm that has been helping clients outperform for over 100 years.”