Robert Fagin and Philip Cushman Join Cowen as Director of Research and Head of Equity Sales

NEW YORK–(BUSINESS WIRE)–Jun. 4, 2012–
Cowen Group, Inc. (“Cowen”) (NASDAQ: COWN) today announced that Robert
Fagin has joined the firm as Director of Research and Philip Cushman has
joined as Head of Equity Sales at Cowen and Company, Cowen’s
broker-dealer business. Mr. Fagin and Mr. Cushman are based in New York.

“Robert and Philip bring significant experience and talent to enhance
our equity platform from both the content and sales perspectives with a
focus on our core industry verticals,” said Jeff Solomon, Chief
Executive Officer of Cowen and Company. “I look forward to working
closely with them and the other members of our team as we continue to
expand our product and service offerings to best meet the needs of our
clients.”

Before joining Cowen Group, Mr. Fagin served as Co-Director of U.S.
Equity Research at Jefferies, in addition to overseeing global
technology, media and telecommunications research. Mr. Fagin was also
the Founder and President of Darga Consulting, a strategic consulting
firm focused on high-profile private companies. Before that he was a
member of the senior equity research management team at Bank of America
and, prior to that, he was a Senior Research Analyst at Bear Stearns,
CIBC Oppenheimer Corp. and International Data Corporation (IDC) where he
covered companies in the technology and telecommunications sectors.

Mr. Cushman most recently served as a Managing Director and Head of
Global Equity Product Management at Jefferies, as well as a member of
Jefferies’ Equity Operating Committee. Prior to joining Jefferies, he
served as an Executive Director in Morgan Stanley’s Equity Sales group.
Before that he was at WR Hambrecht + Co, where he served as Head of New
York Institutional Sales. Mr. Cushman began his career in equity sales
at Cowen in the 1990s.

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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