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Cowen & Co. head of global institutional sales named

Cowen Inc. announced two management changes at its subsidiary, Cowen & Co. LLC, to further align its equity and credit sales and trading platforms.

Philip Cushman was appointed head of global institutional sales, while Burton Welly was named head of special situations and distressed credit trading.

Cushman will manage the institutional equity and credit sales teams. Welly's responsibilities will include all distressed credit trading initiatives.