Company Description:
Cohen & Company is a financial services company specializing in 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, gestation repo financing, new issue placements in corporate and securitized products, underwriting, and advisory services, operating primarily through Cohen & Company’s subsidiaries, Cohen & Company Securities, LLC in the United States and Cohen & Company Financial (Europe) S.A. in Europe. The Capital Markets business segment also includes investment returns on financial instruments that Cohen & Company has received as consideration for advisory, underwriting, and new issue placement services provided by CCM. The Asset Management segment manages assets through collateralized debt obligations, managed accounts, joint ventures, and investment funds. As of March 31, 2025, Cohen & Company had approximately $2.3 billion of assets under management in primarily fixed income assets in a variety of asset classes including U.S. and European bank and insurance trust preferred securities, debt issued by small and medium sized European, U.S., and Bermudian insurance and reinsurance companies, equity interests of SPACs and their sponsor entities, and commercial real estate loans. The Principal Investing segment is comprised primarily of investments Cohen & Company holds related to its SPAC franchise and other investments Cohen & Company has made for the purpose of earning an investment return rather than investments made to support its trading or other capital markets business activity.
Services Offered:
- TBA Trade Execution
- Assists clients by offering hedging capability via access to the TBA trading markets. The focus is manage and hedge the interest rate risk of originator clients mortgage pipelines
- Gestation Repo Financing for FHA (including MODS, Partial Claim, 203K, & onetime close), VA, USDA, Conventional loans, eNotes. This is available to both MBS and Cash Window mortgage issuers
- The JVB Gestation Repo program is a short-term repo product that Brings Capital Markets financing capability to mortgage originators by applying Agency MBS Multi-Pool market pricing, to the funding capability of the mortgage issuer, before the pool issuance or sale to an aggregator. Gestation Repo is a more cost-effective means of financing for the mortgage issuer community and meaningfully more scalable when compared to other mortgage pipeline funding strategies.
- Agency MBS Pool Trading for both fixed-rate and ARMS
- Provides liquidity and improved execution away from the government-sponsored-enterprises (“GSEs”) (i.e. Ginnie Mae, Freddie Mac, Fannie Mae). JVB currently has three dedicated Agency MBS cash traders within the Mortgage Group of which two traders are focused on Agency MBS fixed rate pools and one trader is focused on Agency MBS ARM trading.
- Agency MBS Pool Repo financing
- Provides cost effective leverage capability via the repo financing markets to Mortgage Banks, REITS, insurance companies, banks, and other institutions that are looking to improve their costs of funding, liquidity, and yield enhancement. JVB’s repo desk is comprised of seasoned repo operators that have run successful trading desks in primary broker dealers and large asset management firms.
Minimum Net Worth Requirement (if any)
$1.5MM