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Cowen Adds Senior Talent to Technology, Media & TelecommunicationsInvestment Banking Team

Chris McCabe Named Head of TMT Investment Banking
Blake Williams and Jose Cobos Named Managing Directors

NEW YORK, Jun 27, 2011 (BUSINESS WIRE) —

Cowen Group, Inc. (“Cowen”) (NASDAQ: COWN) today announced that Chris
McCabe will become a Managing Director and Head of Technology, Media &
Telecommunications (“TMT”) Investment Banking. Based in San Francisco,
Mr. McCabe will join Cowen in September and will report to Jeffrey
Solomon, Chief Operating Officer and Head of Investment Banking.

Also joining Cowen’s TMT investment banking team are Blake Williams as
Managing Director, Head of Semiconductors and Capital Equipment Group,
and Jose Cobos, as Managing Director, Head of Internet Group. Both
Messrs. Williams and Cobos will join Cowen on July 6th in San
Francisco and both will report to Mr. Solomon on an interim basis until
Mr. McCabe joins in September. Following these appointments, Peter
Petitt, Managing Director based in San Francisco, will expand his
responsibilities into Clean Technology coverage and mandates and will
report to Mr. McCabe.

“We are very pleased to have individuals with the talent and reputation
of Chris, Jose and Blake join the Cowen team,” commented Jeff Solomon.
“Their addition to the firm adds breadth and depth to an already
seasoned group of professionals who have distinguished themselves
amongst clients on the Cowen platform.”

Mr. McCabe will join Cowen from Piper Jaffray where he was a Managing
Director and Global Co-Head of both the Clean Technology and Renewables
and Industrials Groups. Mr. McCabe led the Clean Tech practice from 2008
until he left the company, organizing and branding the group and helping
to turn the practice into the top equity underwriter in the sector over
the past three years. Mr. McCabe’s responsibilities included coverage of
Solar, Energy Efficiency, Industrial Biotech, Industrial Technology and
Industrial Growth. He joined Piper Jaffray in 2002 as Head of
Semiconductor Banking and was Head of Technology from 2005 to 2008.
Before that, Mr. McCabe was Head of Semiconductor Banking at Robertson
Stephens, where he had a broad range of deal experience in IPOs,
follow-ons, convertible debt and M&A transactions. Previously, Mr.
McCabe was Head of West Coast Technology Banking at Bank of Boston. He
is a graduate of the University of Massachusetts and holds a MBA in
International Management from the University of South Carolina.

Mr. Williams will join Cowen from Piper Jaffray where he was a Managing
Director in the Technology, Media and Telecommunications Group and Head
of Semiconductor, Component and Communications Coverage. In that
position, Mr. Williams helped to establish a leading Hardware practice
among growth clients where he was responsible for originating a variety
of equity, convertible debt, private capital, restructuring and exchange
offerings and M&A transactions for public and private companies. Prior
to joining Piper Jaffray, Mr. Williams was at Robertson Stephens where
he worked with Chris McCabe and was responsible for Analog and Mixed
Signal Semiconductor coverage. He was with Latham & Watkins, SPP Hambro
& Co. and CS First Boston earlier in his career. Mr. Williams is a
graduate of Harvard University and holds a J.D. from Columbia University
School of Law.

Mr. Cobos also will join Cowen from Piper Jaffray where he was Principal
and Head of Internet Investment Banking. Mr. Cobos joined Piper’s
Technology Group in 2004 and held positions of increasing responsibility
as he worked on a broad range of deals including M&A, IPO’s, follow-ons,
convertible debt securities, private equity and PIPE financings. Prior
to joining Piper Jaffray, he worked at General Mills and was a
Lieutenant in the U.S. Navy SEALS Teams. Mr. Cobos holds a Bachelor of
Science Degree in Economics from the United States Naval Academy and a
MBA from Stanford University.

About Cowen Group, Inc.

Cowen Group, Inc. is a diversified financial services firm and, together
with its consolidated subsidiaries, provides alternative investment
management, investment banking, research, and sales and trading services
through its two business segments: Ramius and its affiliates makes up
the Company’s alternative investment management segment, while Cowen and
Company is its broker-dealer segment. Its alternative investment
management products, solutions and services include hedge funds,
replication products, managed futures funds, fund of funds, real estate,
health care royalty funds and cash management services. Cowen and
Company offers industry focused investment banking for growth-oriented
companies, domain knowledge-driven research and a sales and trading
platform for institutional investors. Founded in 1918, the firm is
headquartered in New York and has offices located in major financial
centers around the world.

SOURCE: Cowen Group, Inc.

Cowen Group, Inc.
Peter Poillon, 646-562-1983
Head of Investor Relations/Corporate Communications