Peter A. Cohen
Peter A. Cohen | |
|---|---|
| Born | Long Island, New York, U.S. |
| Occupation | Business executive |
| Known for | Chairman and CEO of Andover National Corporation; former chairman and CEO of Cowen Inc. and Shearson Lehman American Express; founder of Ramius Capital Management |
Peter A. Cohen holds the positions of chairman and CEO at Andover National Corporation, a publicly traded holding company. His previous executive roles include chairman and CEO of Cowen Inc. (currently known as TD Cowen). In 1994, Cohen established Ramius Capital Management, an investment firm managing $13 billion in assets, which merged with Cowen in 2009. Prior to these ventures, he was chairman and CEO of Shearson Lehman American Express from 1983 until 1991.
Early life and education
Cohen was born on Long Island, New York and is of Jewish heritage. He completed his undergraduate studies at Ohio State University in 1968 before obtaining an MBA from Columbia Business School in 1969.
Career
Cohen’s Wall Street career commenced at Reynolds & Co., followed by a move to CBWL-Hayden Stone in 1970. By 1973, he was serving as assistant to chairman Sanford I. Weill, playing a significant role in several major mergers throughout the 1970s, including those involving Shearson, Hammill & Co. and Loeb, Rhoades, Hornblower & Co.. Throughout his tenure, he held various executive positions such as CAO, CFO, COO, chairman, and CEO.
After a brief period at Republic New York Corporation and Trade Development Bank in 1978, Cohen returned to Shearson in 1979. Following its merger with American Express in 1981, he advanced to president and COO before being appointed chairman and CEO in 1983 at the age of 36, making him the youngest individual to lead a major Wall Street firm at that time. His leadership saw Shearson complete 24 acquisitions, including the purchases of Lehman Brothers Inc. in 1984 and EF Hutton in 1988.
In 1988, Cohen was instrumental in backing CEO F. Ross Johnson’s $17 billion leveraged buyout bid for RJR Nabisco through Shearson Lehman; however, the attempt was ultimately unsuccessful against private equity firm Kohlberg Kravis Roberts. This episode was dramatized with Cohen portrayed by Peter Riegert in the movie Barbarians at the Gate.
In 1991, Cohen initiated the securities and asset management divisions at Republic National Bank of New York and served as vice chairman until 1994. That same year marked the founding of Ramius Capital Group, which expanded its assets under management to $13 billion by 2008. Ramius acquired Cowen & Co. in 2009, where Cohen held the roles of chairman and CEO until December 2018 and continued as chairman until June 2019.
Following his retirement from Cowen in 2019, Cohen established three enterprises: Peter Cohen LLC (a personal investment holding entity), Difesa Capital Management (an arbitrage fund co-managed with his son Andrew), and Andover National Corporation (a holding company targeting acquisitions within essential services).
Throughout his career, Cohen has been involved with numerous corporate and philanthropic boards such as American Express, The New York Stock Exchange, Kroll Inc., Olivetti, Linkem S.p.A., Telecom Italia, L-3 Corporation, The New York City Opera, Mount Sinai Medical Center, and the Children's Hearing Institute. Presently, he serves as lead director for Scientific Games; chairs PolarityTE, a biologics firm; sits on the board of Quadrant Biosciences specializing in epigenetics diagnostics; leads as chairman of the American Museum of Finance; and acts as director for the Gift of Life Marrow Foundation.
Personal life
Cohen has experienced two marriages, with his initial union concluding in divorce. Presently, he is wed to Brooke Goodman, a former flight attendant, and together they have a daughter.