Key Milestones in the Cowen Growth Story

1918 Cowen & Company founded by Harry Cowen and Arthur Cowen Sr. as a small bond brokerage firm at 120 Broadway in New York City.

1920s Cowen joins the New York Stock Exchange and begins clearing and execution services for correspondent clients.

1930s In 1933, the firm relocates to 54 Pine Street in the heart of New York City's financial district.

1940s Cowen establishes leadership position as a specialist in railroad bonds.

1950s Cowen adds clients and staff during America’s period of expansion.

1960s Cowen relocates to 45 Wall Street and launches a research and institutional sales business.

1970s Cowen expands significantly, opening six offices across the U.S. and relocating headquarters to One Battery Park Plaza in New York City. Cowen also embarks upon a period of acquisitions that expand its business offerings. In 1970, Cowen enters the retail business by acquiring Greene & Ladd, and adds to the business in 1977 with the purchase of Hardy & Company. In 1976, Cowen acquires G.S. Grumman in Boston, a major institutional research firm specializing in Technology and Health Care.

1980s International expansion in London, Tokyo, Geneva, and Paris gives Cowen a significantly larger footprint, as does further U.S. expansion, including an office in San Francisco. In 1986, Cowen starts its investment banking business and expands the retail business with the acquisition of Freehling & Company in Chicago.

1990s Cowen grows the investment banking business: in 1990, Cowen offered five IPOs and follow-ons for approximately $200 million; this grew to nearly 80 transactions and $5 billion in proceeds by 1995. More impressively, the firm’s lead-managed transactions account for 33% of the business. The firm opens an office in Toronto, expands research to include Media and Entertainment, and celebrates its 75th anniversary. In 1998, France's Société Générale establishes a U.S. investment banking presence by acquiring Cowen to form SG Cowen Securities Corporation.

2000s SG Cowen sells its retail operations to further focus on its core businesses of investment banking and research. SG Cowen adds a third growth sector with the addition of a complete consumer team of bankers, research analysts and traders. SG Cowen’s Investment Banking business continues to gain significant share in its focus sectors and grows its lead managed transactions to approximately 40% of all deals. Société Générale, the parent company of SG Cowen, agrees to carve out the Cowen businesses through an initial public offering. In July 2006, Cowen Group, Inc. becomes a public company. By separating, Cowen is given the opportunity to focus on its own platform by adding new products to serve existing clients, adding professionals to existing sectors, and adding new sectors and business lines. Cowen is traded under the symbol "COWN."