Cowen Announces Formation of Real Estate Investment Banking Group

Conrad Vlak Named Managing Director

NEW YORK–(BUSINESS WIRE)–Jun. 2, 2014–
Cowen Group, Inc. (“Cowen”) (NASDAQ:COWN) today announced the formation
of a real estate investment banking group and the appointment of Conrad
Vlak as Managing Director. Based in New York, Mr. Vlak will report to Kevin Raidy, Head of Investment Banking.

“Real estate investment banking is a natural extension of Cowen’s
longstanding commitment to real estate,” said Mr. Raidy. “Cowen has been
an established voice in real estate, having provided clients with
agenda-setting REIT equity research since 2009. In addition, through our
activities at Ramius, we have been active real estate investors for two
decades.”

“Conrad brings 18 years of experience in real estate, including raising
capital and providing advisory services to public and private real
estate companies. His extensive relationships with REITs, private
owners, operators, developers and investors complement Cowen’s
relationships in commercial real estate and related areas. We look
forward to Conrad’s contributions as he advances Cowen’s presence in
this important sector.”

Prior to joining Cowen, Mr. Vlak was with Oppenheimer & Co., where he
was a Managing Director and head of the real estate investment banking
group. Previously, Mr. Vlak co-founded McNicoll, Lewis & Vlak (MLV), a
boutique investment bank where he also headed the real estate investment
banking group. Prior to MLV, Mr. Vlak was with several investment firms,
including CIT Group, Icahn Associates Corp., Greenstreet Capital
Partners and Rothschild Realty Inc., where he originated, structured and
executed numerous real estate investments. Mr. Vlak holds a BA in Public
and International Affairs from Princeton University and an MBA and
Master of International Policy Studies from Stanford University.

About Cowen Group, Inc.

Cowen Group, Inc. is a diversified financial services firm and, together
with its consolidated subsidiaries, provides alternative asset
management, investment banking, research, and sales and trading services
through its two business segments: Ramius and its affiliates make up the
Company’s alternative investment segment, while Cowen and Company and
its affiliates make up the Company’s broker-dealer segment. Ramius
provides alternative asset management solutions to a global client base
and manages a significant portion of Cowen’s proprietary capital. Cowen
and Company and its affiliates offer 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.

Media:

Sard Verbinnen & Co
Dan Gagnier/Carissa
Felger, 212-687-8080