David Lu Appointed Head of Asia Investment Banking

NEW YORK, Apr 23, 2012 (BUSINESS WIRE) –Cowen Group, Inc. (“Cowen” or “the Company”) (NASDAQ: COWN) today
announced that David Lu has been appointed Head of Asia Investment
Banking. Mr. Lu, who is based in Hong Kong, will be responsible for
leading all aspects of Cowen’s China-based investment banking platform,
Cowen and Company Asia, including capital markets and financial advisory
services. Prior to his current position, Mr. Lu served as Deputy Head of
Asia Investment Banking.

“I am delighted to announce the appointment of David Lu as Head of our
Asia Investment Banking practice,” said Jeff Solomon, Chief Executive
Officer of Cowen and Company, Cowen’s broker-dealer business. “With over
a decade of investment banking experience in China, David is well
prepared to further strengthen our Asia franchise. We view the region as
an important source of growth for the firm and we will continue to
actively build our presence in the area.”

Prior to joining Cowen, Mr. Lu served as Managing Director and Chief
Representative at Piper Jaffray’s Shanghai-based office, where he
successfully built a strong investment banking coverage and execution
team. Mr. Lu holds a M.B.A. and a Bachelor of Laws from the University
of Western Ontario.

About Cowen Group, Inc.

Cowen Group, Inc. is a diversified financial services firm and, together
with its consolidated subsidiaries, provides alternative investment
management, investment banking, research, and sales and trading services
through its two business segments: Ramius and its affiliates makes up
the Company’s alternative investment management segment, while Cowen and
Company is its broker-dealer segment. Its alternative investment
management products, solutions and services include hedge funds,
replication products, managed futures funds, fund of funds, real estate,
health care royalty funds and cash management services. 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.

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