While many bulge firms are seeing their staffs shrink amid static commissions and tepid volume, Cowen is bulking up its equity sales and trading team.
Cowen last week hired senior equity salespeople Brian Fitzgerald and Todd Bertsch and senior equity sales trader David Hartnett for its New York office and Equity Sales and Trading team. Fitzgerald and Bertsch report to Philip Cushman, Cowen’s head of equity sales and David Seaburg, Cowen’s head of sales trading.
Hartnett reports to Mr. Seaburg.
Cushman and Seaburg said in a joint statement, “We are pleased to welcome Brian, Todd and David, three proven professionals whose knowledge and relationship base will be invaluable as we look to further grow our equities market share. Their addition reflects Cowen’s continued commitment to providing clients with a world-class equity sales and trading platform. Brian and Todd will lead our Emerging Managers equity sales effort. They have substantial experience in addressing this market, which complements our strategy to better serve emerging hedge funds, established family offices and under-brokered institutional clients. David’s insights and experience will further enhance our overall sales trading effort.”
Fitzgerald brings 25 years of equity sales experience. He joins Cowen from CRT Capital where he was Managing Director, head of equity research sales. Previously, he was a managing director at Imperial Capital. Prior to that, he spent several years at CIBC World Markets, followed by Oppenheimer, in roles of increasing responsibility, including co-head of Institutional Equity Research Sales & Trading, Head of US Institutional Equity Research Sales and Head of US Middle Market Equity Research Sales.
Bertsch joins Cowen from Bank of America Merrill Lynch where he was the Director of Middle Markets. He was previously a managing director at Lighthouse Financial Group and a senior managing director at Bear Stearns, where he served in a similar capacity. He also spent eight years as Chief Executive Officer of A.W. Bertsch, a direct access business, and was the Co-founder and Chief Executive Officer of Gateway Financial Technologies, a technology service provider for NYSE-based companies.
Hartnett joins Cowen with 30 years of sales trading experience. Previously, he was with RBC Capital Markets where he was a director and senior sales trader. Before that, Harnett was an executive director and senior sales trader at Credit Suisse First Boston.
