Cowen forms institutional convertibles desk, adds Kennedy to new team

By Toni Weeks

San Diego, April 27 - Cowen Group, Inc. said it has formed an institutional convertible securities desk and hired Iain Kennedy as a director in convertible sales.

Kennedy joins recent hires Michael Colucci, director and senior convertibles trader, Mike Tarro, director and convertibles trader, and Omar Brown, director in convertible sales.

The recent additions are part of Cowen's planned expansion of its sales and trading platform. The firm has also hired senior personnel in its electronic products, quantitative trading solutions and equity options teams.

"Last year Cowen made the strategic decision to expand and enhance the sales and trading platform beyond cash equities, and I am excited about how these new hires will help lead this evolution," Thomas O'Mara, head of equity derivatives and convertibles, said in a press release.

Kennedy joins the firm from Barclay's Capital, where he was a director in convertible and equity sales.

Cowen Group is a diversified financial services firm based in New York.

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