LoPrimo to spearhead Cowen's prime brokerage business
Former UBS and Merrill Lynch executive Kevin LoPrimo has joined Cowen as managing director, head of international prime brokerage.
LoPrimo spent nearly five years at Global Prime Partners where he set-up the first European-based boutique prime broker servicing hedge funds with assets under management of less than $200m.
Before that he worked at UBS and Merrill Lynch in various prime brokerage roles.
Cowen Prime Services was formed last year following the wider group's acquisition of Concept Capital Markets.
Mike Rosen, Cowen's managing director and global co-head of prime brokerage services, said the company has been "laying the groundwork" for its entry into the prime brokerage and outsourced trading business in Europe for many months.
"We are pleased to welcome Kevin to our leadership team,” Rosen said in a statement. “Kevin's international prime brokerage expertise will help accelerate the implementation of Cowen Prime’s platform in Europe and Asia."
Jack Seibald, managing director and global co-head of prime brokerage service, added that the impact of enhanced capital requirements continues to curtail large prime brokers’ ability to serve their hedge fund clients.
"This has created an opportunity for an upper mid-tier firm like ours to provide prime brokerage services to European hedge fund managers. We’re excited to have a partner of Kevin’s caliber leading this effort for us," Seibald concluded.
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