Cowen announces creation of investment banking special situations group

By Tali Rackner

Norfolk, Va., Sept. 9 – Cowen Group, Inc. announced the formation of the special situations group at Cowen and Co., according to a press release.

Lorie Beers, who joins the firm as managing director and head of special situations, will be supported by a team that includes Jeff Knopping, who has been with Cowen since 2014 as managing director, and Randy Lederman, who joins the firm as director.

The group will be based in New York and report to Kevin Raidy, head of investment banking.

Beers brings 28 years of experience to the company. Most recently, she was managing director and head of restructuring at StormHarbour Securities and served in a senior level capacity at firms such as Variant Capital Advisors, Seabury Group, KPMG Corporate Finance and Gordian.

Prior to joining Cowen’s investment banking group in 2014, Knopping was managing director at KCAP Financial where he led the origination and capital markets team. Before that, he was with William Blair & Co. as managing director in the private capital and special situations group. Knopping also spent 13 years with GE Capital and worked at Citicorp Investment Bank.

Lederman joins Cowen with 14 years of experience. Most recently, he was with StormHarbour Securities as a director in the energy capital markets group. Prior to that, he was with Global Hunter Securities as a vice president in the high yield/restructuring group. Lederman also worked with the leveraged finance/restructuring teams at Cantor Fitzgerald & Co., FBR and Macquarie Capital Advisors.

“With the establishment of the special situations group, our investment banking product expertise will expand to include restructuring and recapitalization advisory services,” Raidy said in the release. “We believe these capabilities will be highly relevant in the current market environment, particularly in certain industry sectors such as energy and retail/consumer products, and complement our existing debt and equity capital markets capabilities.”

“Lorie, Jeff and Randy have a strong background in these areas and have successfully advised a broad range of companies in challenging situations. We look forward to their contributions to the firm and our clients’ success,” Raidy added in the release.

Cowen is a New York-based financial services company.

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