Cowen Group Announces the Expansion of its Sales and Trading Platform with New Hires

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

Cowen Group, Inc. (“Cowen”) (NASDAQ:COWN) today announced that it has
made significant progress towards the expansion of its sales and trading
platform, having completed the hiring of senior personnel in its
Electronic Products, Quantitative Trading Solutions, Institutional
Convertible Securities and Equity Options teams. The new hires all
report to Thomas O’Mara, Cowen’s Head of Equity Derivatives and
Convertibles, with the Quantitative Trading Solutions hires reporting
jointly into Mr. O’Mara and John O’Donoghue, Head of Equities at Cowen.

“Last year Cowen made the strategic decision to expand and enhance the
sales and trading platform beyond cash equities, and I am excited about
how these new hires will help lead this evolution,” commented Mr.
O’Mara. “This is a formidable and experienced team of professionals, all
of whom will play an important part in adding talent to our already
strong Sales and Trading team.”

Cowen added four professionals to its newly formed Electronic Products
Group. Joining Cowen recently in senior positions are Mark Viani as
Managing Director, Jay Knopf as Director, and Robert McHeffey as
Director. The team collectively joined Cowen from Newedge Group, where
their responsibilities included the creation and implementation of
various electronic trading platforms and products.

Cowen has also hired Douglas Rivelli as Managing Director and Co-head of
Quantitative Trading Solutions. Mr. Rivelli was formerly Managing
Director at Weeden and Co. and Co-CEO of its algorithmic subsidiary,
Pragma Securities, where he built one of Wall Street’s most successful
program and algorithmic trading businesses. Mr. Rivelli will join Stuart
Gould in co-heading the group.

Additionally, Cowen recently formed an Institutional Convertible
Securities desk and hired Iain Kennedy as Director – Convertibles Sales
from Barclay’s Capital, where he was a Director in Convertible and
Equity Sales. Mr. Kennedy joins a team of recently hired senior
professionals, including Michael Colucci, Director – Senior Convertibles
Trader, Mike Tarro, Director – Convertibles Trader and Omar Brown,
Director – Convertibles Sales.

In Institutional Equity Options, Cowen has expanded efforts by hiring
John Longo and Jason Megson, both as Managing Directors. Both Messrs.
Longo and Megson were most recently at Oppenheimer & Co., where they
were Co-heads of Equity Derivatives Sales and Trading.

About Cowen Group, Inc.

Cowen Group, Inc. is a leading diversified financial services firm
providing alternative investment management, investment banking,
research, and sales and trading services through its business units,
Ramius and Cowen and Company. Its alternative investment management
products include hedge funds, fund of funds, real estate funds,
healthcare royalty funds, cash management and commodity trading funds,
offered primarily under the Ramius name. 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
Director of Communications