Eric Greenhut Joins Ramius as Head of Quantitative Trading Group

NEW YORK, Apr 17, 2012 (BUSINESS WIRE) –Ramius LLC (“Ramius”), the global alternative investment management
business of Cowen Group, Inc. (“Cowen”) (NASDAQ: COWN), today announced
that Eric Greenhut has joined the firm as a Managing Director and Head
of Quantitative Trading. Ramius’ quantitative trading platform was
developed in-house and has been deploying proprietary capital through
systematic trading programs since early 2010. Ramius is now seeking to
expand and diversify the platform in order to enhance returns to
proprietary capital and ultimately create systematic trading products
for Ramius’ clients. In a newly created role, Mr. Greenhut will be
responsible for the management and development of the group, including
the ongoing search for premier quantitative traders, researchers, and
programmers. Mr. Greenhut will report to Thomas W. Strauss, President
and CEO of Ramius.

“We welcome Eric to the firm and believe that his experience and
skillset will be a valuable asset as we expand and advance our
quantitative trading platform,” said Mr. Strauss. “Over the last two
years, this platform has been generating superior results for Ramius’
own proprietary trading activities. As a result, we intend to grow the
group substantially, both to enhance returns on our proprietary capital
and to develop systematic trading products that will meet the ever
evolving needs of our clients. We look forward to Eric’s contributions
as we continue to build out Ramius’ quantitative trading group.”

Mr. Greenhut brings 16 years of financial services experience with him
to Ramius. Prior to joining the firm, he served as Managing Member of
quantitative trading firms Hut Trading LLC & Hut Capital LLC since 2003.
Previous to that, he was Managing Director, Portfolio Manager, and a
Director of Research at BNP Paribas/Cooper Neff. Mr. Greenhut is an
honors graduate of Harvard College and Phillips Academy.

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.

About Ramius LLC

Ramius offers a broad range of investment solutions to institutions and
private clients worldwide. Founded in 1994, Ramius and affiliates manage
$10.3 billion* (as of January 1, 2012) across multiple asset classes and
investing styles. Ramius is headquartered in New York City with offices
located in London, Tokyo, Luxembourg and Munich.

SOURCE: Cowen Group, Inc.

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