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Jacob Walthour Will Be Joining Ramius as Vice-Chairman of New Business and Product Development

NEW YORK, NY, January 16, 2014 –  Ramius LLC, (“Ramius”) the global investment management business of Cowen Group,  Inc. (“Cowen”) (Nasdaq: COWN), today announced that Jacob “Jake” Walthour will  be joining the firm as Vice-Chairman of New Business and Product Development.  In this new role, Mr. Walthour will be  responsible for expanding the firm’s relationships within the global financial  community, creating alternative investment solutions and attracting talented  investment teams to the Ramius institutional platform.

Michael  Singer, Chief Executive Officer of Ramius, said, “Jake is an extremely  accomplished industry professional with a unique blend of client, research and  investment experience, and we are thrilled to have him join Ramius.  Over the past year, we’ve made great progress  in developing our platform, expanding our capabilities and building broader and  deeper relationships in the investor community.   We look forward to Jake’s contributions to advance our efforts even  further.” 

Thomas  W. Strauss, Chairman of Ramius, said, “Jake has worked at some of the  industry’s most experienced and successful firms and personally advised  sophisticated institutional investors on a global basis.  This experience coupled with the human,  intellectual and financial resources of Ramius will drive our growth and expand  strategic relationships. We collectively welcome him to the team.”

Jake  Walthour commented, “Our business continues to evolve in ways that require  open-mindedness, client-centric thinking and willingness to partner with  LPs.  Our commitment will be to  developing differentiated products and customized solutions in structures that  offer better alignment with their portfolio needs.  What attracted me to Ramius is the firm’s leadership,  entrepreneurial culture and robust operational platform that gives each  investment team the ability to focus on generating solid results for clients.  I am excited to be joining such a deep and dynamic  organization.”

The  Ramius platform currently offers capabilities in small-cap activism, healthcare  royalties, customized alternative solutions, event driven equity, real estate,  long/short credit and managed futures.   The firm has also been at the forefront of liquid alternative strategies  including the recently launched event driven equity fund (Ticker:  REDIX/REDAX). 

About Jake Walthour

Mr.  Walthour will be joining Ramius from Cliffwater LLC, where he has been serving as  Managing Director, Member of the Client Services and Portfolio Construction Team.  He has also served on the firm’s Investment Committee.  Prior to joining Cliffwater, Mr. Walthour was  a Managing Director at Citadel Investment Group where he headed a team focused  on North American distribution for the firm’s various hedge fund and private  capital vehicles. Before Citadel, he was a partner and Head of Advisory Services  at Aksia LLC, where he oversaw business development, client consulting and  portfolio management for the firm’s discretionary accounts. His twenty four  years of investment banking, traditional and alternative experience includes  employment at Lehman Brothers, Morgan Stanley and Moore Capital Management.  He also served as Executive Assistant to New  York State Comptroller H. Carl McCall and developed one of the first emerging  manager programs in alternative and traditional investment management for the  New York State Common Retirement Fund.  Mr.  Walthour received his BA cum laude in Political Science from the Nelson  Rockefeller School at the State University of New York in Albany.  He serves on the Girl Scouts USA Investment  Sub-committee and remains a Director of the Robert F. Kennedy Center for  Justice and Human Rights.

About  Ramius LLC

Ramius  is an alternative investment platform offering innovative products and  solutions across the liquidity spectrum to institutional and private  clients.  Founded in 1994, the firm  offers investors access to strategies to meet their unique needs including small-cap  activism, healthcare royalties, customized solutions, event driven equity, real  estate, long/short credit and managed futures.   Ramius attracts talented in-house and affiliated investment teams and  provides them with institutional infrastructure, proven sales and marketing and  industry know how.  The firm is committed  to the success of its global investor base and invests a significant portion of  firm capital alongside clients.  Ramius  manages over $9 billion in assets.

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 in major financial centers around the world.

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