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Steven A. Levy Joins Cowen as Head of Financial Sponsors Coverage

Cowen Group, Inc. (“Cowen”) (NASDAQ:COWN) today announced that Steven A.
Levy has joined Cowen and Company’s investment banking team as Managing
Director, Head of Financial Sponsors. Mr. Levy is based in New York and
reports to Kevin Raidy, Cowen’s Head of Investment Banking.

“As Head of Financial Sponsors coverage, Steve will play a key role in
enhancing Cowen’s market presence across our core investment banking
sectors,” said Mr. Raidy. “Steve’s experience as both an investment
banker and business operator provides him with the perspective that
allows him to connect with the sponsor community and their clients on a
deeper level. We look forward to Steve’s successes in advancing our
equity, debt and advisory efforts with these important clients.”

Mr. Levy joins Cowen from Stifel (formerly Thomas Weisel Partners),
where he managed middle market financial sponsor relationships and led
M&A execution for transactions in the consumer, industrial, technology
and other sectors. Before that, Mr. Levy was the CFO of Delia’s where he
prepared the company to go public. Prior to that, he was a senior vice
president in Lehman Brother’s financial sponsors group. He also worked
in SG Cowen’s financial institutions group and started his investment
banking career at CS First Boston. He received a BA from Binghamton
and an MBA from The Wharton School of the University of

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, sales and trading and prime
brokerage 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, a sales and trading platform for
institutional investors and a comprehensive suite of prime brokerage
services. Founded in 1918, the firm is headquartered in New York and has
offices worldwide.

Source: Cowen Group, Inc.

Gagnier Communications
Dan Gagnier, 646-342-8087