Published Tuesday, 27 March 2012
Cowen was founded in 1918 and is headquartered in New York. (© DETI)
Cowen International Ltd, part of the Cowen Group, is setting up a research and development centre in Belfast.
Enterprise Minister Arlene Foster said the new jobs will pay wages double the private sector average and contribute more than £2m a year to the local economy.
"This is the kind of high value project that Invest NI is targeting and is another valuable win for Northern Ireland," said the DUP minister.
"Subject to satisfactory growth and development, the project could create up to 50 jobs. This is the latest in a series of inward investment successes for Invest NI, which has identified the financial services and ICT sectors as important drivers for economic growth."
Invest NI has offered up to £500,000 of support for the investment, while the Department for Employment and Learning has pledged £175,800.
DEL minister Stephen Farry said: "The strong skills base is one of the reasons that global companies are attracted to Northern Ireland and investment in skills is essential if employers are to maximise the talents of their people.
"Through the Assured Skills Programme we can offer investors the necessary support which will help to build the skills base and ensure that they view Northern Ireland as the best location from which to grow their business."
Peter Cohen from New York-based Cowen said their office in Belfast will provide a range of technology and global support services.
He said it will also be responsible for developing "innovative" new technologies.
"We considered several international investment locations for the new centre and were drawn to the excellent, educated workforce available here," Mr Cohen explained.
"We are pleased to bring new jobs here to Northern Ireland as we grow our operations."
© UTV News