Cowen Group Announces Executive Appointment

Jeffrey M. Solomon Named President of Cowen Group

Remains Chief Executive Officer of Cowen and Company

NEW YORK–(BUSINESS WIRE)–Sep. 23, 2014–
Cowen Group, Inc. (“Cowen”) (NASDAQ:COWN) today announced that Jeffrey
M. Solomon
has been appointed President of Cowen Group. Mr. Solomon will
retain the title of Chief Executive Officer of Cowen and Company,
continuing to oversee all of Cowen and Company’s businesses, including
investment banking, sales and trading and research.

“Jeff has played an integral role in the building of Ramius since its
founding in 1994 and the integration and rebuilding of Cowen and Company
since he became CEO of that business in 2011,” said Peter A. Cohen,
Chief Executive Officer of Cowen Group. “Our businesses have made
substantial progress and we are well positioned to accelerate our growth
in areas where we can truly excel. Jeff’s new role is in recognition of
the role he has played in reshaping Cowen Group and is an important step
in putting together the appropriate management structure to drive that
growth profitably.”

Since October 2011, Mr. Solomon has been Chief Executive Officer of
Cowen and Company and a director of Cowen Group since December 2011.
Previously, he held the titles of Chief Operating Officer of Cowen Group
and Head of Investment Banking at Cowen and Company. Prior to the 2009
Cowen – Ramius business combination, Mr. Solomon was a Managing Member
of Ramius, having joined the firm when it was founded in 1994. During
his 15 year tenure at Ramius, Mr. Solomon was responsible for the
development, management and oversight of a number of the investment
strategies employed by Ramius.

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 worldwide.

Source: Cowen Group, Inc.

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

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