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Cowen Expands Investment Banking Capabilities

Establishes Special Situations Product Group

Cowen Group, Inc. (“Cowen”) (NASDAQ:COWN) today announced the formation
of the Special Situations Group at Cowen and Company. Lorie Beers, who
joins the firm as Managing Director and Head of Special Situations, will
be supported by a talented team that includes Jeff Knopping, who has
been with Cowen since 2014 as Managing Director, and Randy Lederman who
joins the firm as Director. The group will be based in New York and
report to Kevin Raidy, Head of Investment Banking.

“With the establishment of the Special Situations Group, our investment
banking product expertise will expand to include restructuring and
recapitalization advisory services,” said Mr. Raidy. “We believe these
capabilities will be highly relevant in the current market environment,
particularly in certain industry sectors such as Energy and
Retail/Consumer Products, and complement our existing debt and equity
capital markets capabilities. Lorie, Jeff and Randy have a strong
background in these areas and have successfully advised a broad range of
companies in challenging situations. We look forward to their
contributions to the firm and our clients’ success.”

Ms. Beers has 28 years of professional experience that encompasses the
full spectrum of restructuring. Most recently, she was Managing Director
and Head of Restructuring at StormHarbour Securities and served in a
senior level capacity at firms such as Variant Capital Advisors, Seabury
, KPMG Corporate Finance and Gordian. Ms. Beers began her career as
a bankruptcy attorney and ultimately became a partner in the Bankruptcy
at Kasowitz, Benson, Torres & Friedman. She also served as Chief
Restructuring Officer and Chief Operating Officer for a middle market
marketing and branding organization. Ms. Beers has a B.A. from Dickinson
and a J.D. from the University of Pittsburgh School of Law.

Prior to joining Cowen’s investment banking group in 2014, Mr. Knopping
was Managing Director at KCAP Financial where he led the origination and
capital markets team. Before that, he was with William Blair & Company
as Managing Director in the Private Capital and Special Situations
group. Mr. Knopping also spent 13 years with GE Capital in a variety of
roles including Chief Investment Officer of Global Sponsor Finance and
Head of Capital Markets for Commercial Finance. He also worked at
Citicorp Investment Bank in loan syndications and Bank of America as a
commercial banker and credit analyst. Mr. Knopping has a B.A. from
American University and an M.B.A. from The Wharton School of the
University of Pennsylvania.

Mr. Lederman joins Cowen with 14 years of experience. Most recently he
was with StormHarbour Securities as a Director in the energy capital
markets group. Prior to that, he was with Global Hunter Securities as a
Vice President in the high yield/restructuring group. Mr. Lederman also
worked with the leveraged finance/restructuring teams at Cantor
Fitzgerald, FBR and Macquarie Capital Advisors. He began his career Bank
of America Securities
in the leveraged finance/liability management
group. Mr. Lederman received a B.A. from the University of Michigan Ross
School of Business

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 worldwide.

Source: Cowen Group, Inc.

Cowen Group, Inc.
Sard Verbinnen & Co
Gagnier/Carissa Felger