Not much has been revealed about Arcturus Wotan yet. His shabby attire is a disguise, hiding his connections to (and participation in) the wealth and power of organized crime. He's an information broker, a gangster, and a skeaze. His intel is usually good and he'll seldom stab you in the back, and the money is often decent... what he has in store for Cooke & Crew this time remains to be seen.
Also, a Blast from Cooke's Past:
Festus D. Zuniga