Cowen Group, a US-based investment bank, has launched its credit fixed income group and appointed Kevin Reynolds and Leonard Sheer as head and managing director, respectively for the new group.

Mr Reynolds and Mr Sheer will be primarily responsible for fixed income and credit product origination and execution, including public and private debt placements, exchange offers, consent solicitations and tender offers.

Prior to this, Mr Reynolds was co-head of capital markets origination at Gleacher & Company. Prior to joining Gleacher & Company, he spent 12 years at

UBS in a number of senior roles, including co-head of corporate recapitalizations and liability management, and the head of its Corporate ABS business. He began his career in the bond department at Salomon Brothers.

Mr Sheer also joins Cowen from Gleacher & Company where he was a managing director. Mr Sheer has 14 years of experience in the financial services industry.

Peter Cohen, chairman and CEO of Cowen Group, said: “Adding a deeply experienced team to create innovative debt financing solutions allows us to capitalize on a previously identified growth opportunity for Cowen. Kevin and Len each have a stellar track record of meeting client needs, we welcome them to the firm and we look forward to their contributions.”