Cowen Lays Off Staff in Credit Sales and Trading After TD Deal

Cowen Inc. has laid off staff in its credit sales and trading group, according to people with knowledge of the matter.

(Bloomberg) — Cowen Inc. has laid off staff in its credit sales and trading group, according to people with knowledge of the matter.

Affected workers were informed Friday, said the people, who asked not to be named discussing confidential personnel decisions. A representative for Cowen declined to comment.

The layoffs come after years of Cowen expanding its credit ranks. The financial services firm was acquired by Toronto-Dominion Bank in March. A representative for TD didn’t immediately respond to requests for comment.

–With assistance from Rachel Butt and Derek Decloet.

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