Cowen Announces Formation of Securities Finance Business

Matt Baldassano Joins as Head of Global Securities Finance

Cowen Group, Inc. (“Cowen”) (NASDAQ:COWN) today announced that Matt
has joined Cowen as Managing Director, Head of Global
Securities Finance. Mr. Baldassano is based in New York and reports to Dan Charney, Head of Equities.

Mr. Charney said, “Establishing a securities finance capability is a
natural complement to Cowen’s prime services business, which was
established last fall. Matt, a seasoned professional with more than 30
years of experience in securities finance, will be responsible for
driving growth in high margin securities finance products. We look
forward to Matt’s contributions to the organization.”

Prior to joining Cowen, Mr. Baldassano was Co-Head of Global Prime
Services and Head of Global Securities Finance at Jefferies. Before
that, Mr. Baldassano was the Global Co-Head of Securities Lending and
Prime Brokerage Sales/Trading at Lehman Brothers. Previously, he was the
head of the US equities securities lending business at the Pershing
Division of Donaldson Lufkin & Jenrette
. Mr. Baldassano graduated from
Fairleigh Dickinson University with a BS in Finance and Economics.

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, sales and trading and prime
brokerage 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, a sales and trading platform for
institutional investors and a comprehensive suite of prime brokerage
services. Founded in 1918, the firm is headquartered in New York and has
offices worldwide.

Source: Cowen Group, Inc.

For Cowen Group:
Dan Gagnier, 646-342-8087

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