Cohen & Company has appointed Executive Chairman Daniel G. Cohen as CEO, effective November 10, 2026. He succeeds Lester R. Brafman, who stepped down at the close of business on the same date.
Cohen will retain his position as executive chairman while assuming direct responsibility for the financial services company’s management and strategic execution.
Brafman will remain with the company as a senior adviser through November 30, supporting the leadership transition. He led Cohen & Company for more than 13 years.
Daniel Cohen’s return to the CEO position gives the company a leader already familiar with its operations, employees, investment activities, capital position, and strategic priorities.
Cohen & Company operates through three primary segments: Capital Markets, Asset Management, and Principal Investing.
Its capital-markets operations include sales, trading, repurchase financing, new-issue placements, underwriting, and advisory services. These activities are conducted primarily through Cohen & Company Securities in the United States and Cohen & Company Financial Europe.
Cohen & Company Capital Markets, a division of the U.S. securities subsidiary, operates as a boutique investment bank. It advises corporations, financial sponsors, investors, and institutions on capital markets and special purpose acquisition company transactions.
The asset-management segment operates investment funds, managed accounts, joint ventures, and collateralized debt obligations. As of September 30, 2026, the company managed approximately $1.3 billion, primarily in fixed-income assets.
Those assets include European bank and insurance trust-preferred securities, debt issued by small and midsize insurance and reinsurance businesses, and commercial real estate loan servicing arrangements.
Principal Investing contains positions held to generate investment returns rather than facilitate trading or support other capital-markets activities.
As CEO, Cohen plans to emphasize disciplined execution, profitable growth, and long-term shareholder value. His dual role as executive chairman may allow close alignment between board oversight and management priorities.
The transition also follows the company’s third-quarter 2026 financial results and occurs as market conditions affect underwriting, advisory, trading, and investment-management businesses.
Cohen thanked Brafman for his leadership and contributions. Brafman said he was proud of the company’s accomplishments and expressed confidence in its continued success.
KEY QUOTES
“I know firsthand the strength of our team and our platform, and I look forward to building on our strong foundation as we execute on our priorities and create long-term value for our stockholders. I am excited to return to the CEO role and continue working with our team to capitalize on the opportunities ahead and drive results through disciplined execution and a clear commitment to profitable growth.”
Daniel G. Cohen, CEO and Executive Chairman of Cohen & Company
“On behalf of the Board, I want to thank Lester for his leadership and the significant contributions he has made to Cohen & Company over the past thirteen plus years. We wish him all the best.”
Daniel G. Cohen, CEO and Executive Chairman of Cohen & Company
“It has been a privilege to lead Cohen & Company, and I am proud of all we have accomplished together. I look forward to seeing the Company’s continued success.”
Lester R. Brafman, Senior Adviser and Former CEO of Cohen & Company
