J.V.B. Financial Group, LLC Hires New Executive Team to Expand Investment Banking Division of Cohen & Company’s Broker Dealer Subsidiary

Rhea-AI Summary

Cohen & Company Inc. (NYSE American: COHN) has announced that Dan Nash and Jerry Serowik have joined its subsidiary, J.V.B. Financial Group, LLC (JVB). This strategic move aims to enhance JVB’s Investment Banking division. Nash will serve as Head of Investment Banking, overseeing M&A and equity capital markets, while Serowik takes charge of Equity Capital Markets with a focus on SPAC and PIPE transactions. Their extensive experience in the financial sector is expected to significantly bolster JVB's client advisory capabilities, particularly in the thriving SPAC market.

Positive

• Dan Nash and Jerry Serowik bring extensive experience and leadership, enhancing JVB's capabilities.
• Opening a new office in Silicon Valley aims to expand client outreach and service offerings.

Negative

• Concerns about continuity as new leadership joins, potentially affecting existing workflows.

PHILADELPHIA and NEW YORK , March 23, 2021 (GLOBE NEWSWIRE) -- Cohen & Company Inc. (NYSE American: COHN; “Cohen”), a financial services firm specializing in fixed income markets and, more recently, in special purpose acquisition company (“SPAC”) markets, announced that Dan Nash and Jerry Serowik have joined its indirect, wholly-owned subsidiary J.V.B. Financial Group, LLC (“JVB”).

Cohen operates a global network of more than 85 professionals in four principal offices throughout the U.S. and Europe focused on asset management, principal investing, and capital markets services. JVB specializes in securities financing and the sales and trading of fixed income securities. Nash and Serowik will lead the expansion of JVB’s Investment Banking division and work closely with team members at Cohen to create a leading diversified financial services firm.

“Dan Nash and Jerry Serowik are incredibly strong, well-respected bankers, and we are thrilled to welcome them to JVB,” said Daniel Cohen, Chairman of the Cohen Board of Directors. “We have worked with Dan and Jerry on numerous transactions and are excited to partner with them as they grow a leading advisory and capital markets business with a strong focus on our clients. Their combined experience and leadership will be an asset across the entire firm as we continue to grow and pursue new opportunities.”

“I am excited to join the JVB team alongside Jerry and build something special together,” said Nash. “In addition to being one of the most respected SPAC sponsors and early believers in the SPAC product, JVB pioneered a tiered sponsor structure. This thought leadership and partnership approach to the SPAC process are attributes we look forward to bringing to our client advisory business.”

Nash has been named Head of Investment Banking and is responsible for leading all aspects of Investment Banking, including mergers & acquisitions advisory, private capital markets, equity capital markets and PIPE transactions. Serowik has been named Head of Equity Capital Markets and is responsible for leading JVB’s capital markets practice, with a particular focus and expertise around SPAC and PIPE transactions. In addition, Felix Burmeister, formerly at Code Advisors and Wells Fargo, will support Nash and Serowik as Director of Investment Banking with a focus on covering technology sector clients across the full spectrum of JVB’s investment banking advisory services. Tyler Humphrey, formerly at FT Partners, has also joined the team. JVB intends to open an office in the San Francisco Bay Area, expanding the organization’s reach into Silicon Valley.  

About Dan Nash

Dan Nash was most recently Global Head of Internet Investment Banking at Wells Fargo Securities, where he advised many leading technology companies on IPOs, acquisitions, SPAC mergers, private placements and debt financings. Dan helped grow the Technology investment banking business significantly at Wells Fargo and was the lead investment banker on a number of notable transactions, including Carvana's IPO, Shift’s SPAC sale and PIPE, and Cipher’s SPAC sale. Prior to Dan's recent role at Wells Fargo, Dan was the Chief Financial Officer at MZ, a leading mobile gaming company, where he was responsible for all aspects of MZ’s financial operations. Prior to MZ and Wells Fargo, he held multiple investment banking and finance positions at BofA Merrill Lynch, Riverstone Networks and Intel Corp.

About Jerry Serowik

Jerry Serowik was most recently Managing Director, Head of SPACs at Wells Fargo Securities. He led all aspects of the SPAC practice and grew the business considerably at Wells Fargo, leading a number of notable SPAC IPOs, PIPEs and Capital Market Advisory assignments. Serowik has over 17 years of Capital Markets expertise, including prior roles at Wells Fargo Securities and Bear Stearns. Before running the SPAC practice at Wells Fargo, he led a long list of equity transactions across all industry verticals from the Syndicate desk, including Carvana’s IPO.

About JVB Financial

J.V.B. Financial Group, LLC (member FINRA, SIPC), an indirect, wholly owned subsidiary of Cohen & Company Inc., specializes in securities financing and the sales and trading of fixed income securities. JVB’s mission is to be the premier distribution platform to its customers, providing trusted advice, intelligent solutions, and superior execution. For more information, please visit www.jvbfinancial.com.

About Cohen & Company Inc.

Cohen & Company Inc. (NYSE American: COHN) is a financial services company specializing in fixed income markets and, more recently, in SPAC markets. It was founded in 1999 as an investment firm focused on small-cap banking institutions but has grown to provide an expanding range of capital markets and asset management services. Cohen & Company’s operating segments are Capital Markets, Asset Management, and Principal Investing. The Capital Markets segment consists of fixed income sales, trading, and matched book repo financing as well as new issue placements in corporate and securitized products, and advisory services, operating primarily through Cohen & Company’s subsidiaries, J.V.B. Financial Group, LLC in the United States and Cohen & Company Financial (Europe) Limited in Europe. The Asset Management segment manages assets through collateralized debt obligations, managed accounts, and investment funds. As of December 31, 2020, the Company managed approximately $2.8 billion in primarily fixed income assets in a variety of asset classes including US and European trust preferred securities, subordinated debt, and corporate loans. As of December 31, 2020, 74.3% of the Company’s assets under management were in collateralized debt obligations that Cohen & Company manages, which were all securitized prior to 2008. The Principal Investing segment is comprised primarily of investments the Company holds related to its SPAC franchise and other investments the Company has made for the purpose of earning an investment return rather than investments made to support its trading, matched book repo, or other capital markets business activity. For more information, please visit www.cohenandcompany.com.

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Contact

Investors
Cohen & Company Inc.
Joseph W. Pooler, Jr.
Executive Vice President and Chief Financial Officer
215-701-8952
investorrelations@cohenandcompany.com

Media
Joele Frank, Wilkinson Brimmer Katcher
James Golden or Andrew Squire
212-355-4449
jgolden@joelefrank.com or asquire@joelefrank.com

FAQ

What key changes were announced by Cohen & Company regarding JVB?

Cohen & Company announced the hiring of Dan Nash as Head of Investment Banking and Jerry Serowik as Head of Equity Capital Markets to expand JVB's investment banking services.

What is the significance of new hires for Cohen & Company and its stock COHN?

The new hires aim to strengthen JVB's position in the SPAC market, potentially enhancing revenue opportunities and positively impacting the stock COHN.

How will the expansion of JVB’s Investment Banking division affect COHN?

The expansion is expected to improve client advisory services and capitalize on growing SPAC opportunities, which could lead to increased revenue for COHN.

What is the role of Dan Nash at JVB?

Dan Nash will lead all aspects of Investment Banking, focusing on mergers & acquisitions advisory, private capital markets, and PIPE transactions.

What expertise does Jerry Serowik bring to JVB?

Jerry Serowik has significant experience in capital markets, particularly with SPACs, and will oversee JVB’s Equity Capital Markets.

When was the announcement of the new leadership at JVB made?

The announcement was made on March 23, 2021.