James Stone Joins Cowen as Head of Financial Sponsors Coverage

NEW YORK–(BUSINESS WIRE)–Jul. 16, 2012–
Cowen Group, Inc. (“Cowen” or “the Company”) (NASDAQ: COWN) today
announced that James Stone has joined the Company’s investment banking
platform, Cowen and Company, as Managing Director and Head of Financial
Sponsors Coverage. He is based in New York and reports to Chris McCabe and Kevin Raidy, Co-Heads of Investment Banking at Cowen and Company.

“I am delighted to welcome James to the firm,” said Jeffrey Solomon,
Chief Executive Officer of Cowen and Company. “With over 15 years of
experience advising clients across the private equity industry, he is
well positioned to enhance our financial sponsor coverage in a variety
of sectors. He is an important addition for the firm and will be a
valuable asset to our clients.”

Mr. Stone joins Cowen from Gleacher & Company Securities, where he led
the firm’s financial sponsor coverage practice. Prior to Gleacher, he
was with the U.S. division of Macquarie Capital Inc., where he served as
a Managing Director of Corporate Finance focusing on Financial Sponsor
Coverage. Prior to that, he was a Managing Director of Corporate Finance
focusing on Financial Sponsor Coverage at Imperial Capital. He was also
a Managing Director in the Leveraged Finance and Financial Sponsor
Coverage Groups at Credit Suisse. Mr. Stone received a B.A. in History
and an M.B.A. in Finance from Columbia University.

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.

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