Cowen Group Announces the Expansion of its Sales and Trading Platform
with New Hires

New Hires Added to Electronic Products, Quantitative Trading Solutions, Institutional Convertible Securities and Institutional Equity Options Teams

NEW YORK, Apr 27, 2011 (BUSINESS WIRE) --

Cowen Group, Inc. ("Cowen") (NASDAQ:COWN) today announced that it has made significant progress towards the expansion of its sales and trading platform, having completed the hiring of senior personnel in its Electronic Products, Quantitative Trading Solutions, Institutional Convertible Securities and Equity Options teams. The new hires all report to Thomas O'Mara, Cowen's Head of Equity Derivatives and Convertibles, with the Quantitative Trading Solutions hires reporting jointly into Mr. O'Mara and John O'Donoghue, Head of Equities at Cowen.

"Last year Cowen made the strategic decision to expand and enhance the sales and trading platform beyond cash equities, and I am excited about how these new hires will help lead this evolution," commented Mr. O'Mara. "This is a formidable and experienced team of professionals, all of whom will play an important part in adding talent to our already strong Sales and Trading team."

Cowen added four professionals to its newly formed Electronic Products Group. Joining Cowen recently in senior positions are Mark Viani as Managing Director, Jay Knopf as Director, and Robert McHeffey as Director. The team collectively joined Cowen from Newedge Group, where their responsibilities included the creation and implementation of various electronic trading platforms and products.

Cowen has also hired Douglas Rivelli as Managing Director and Co-head of Quantitative Trading Solutions. Mr. Rivelli was formerly Managing Director at Weeden and Co. and Co-CEO of its algorithmic subsidiary, Pragma Securities, where he built one of Wall Street's most successful program and algorithmic trading businesses. Mr. Rivelli will join Stuart Gould in co-heading the group.

Additionally, Cowen recently formed an Institutional Convertible Securities desk and hired Iain Kennedy as Director - Convertibles Sales from Barclay's Capital, where he was a Director in Convertible and Equity Sales. Mr. Kennedy joins a team of recently hired senior professionals, including Michael Colucci, Director - Senior Convertibles Trader, Mike Tarro, Director - Convertibles Trader and Omar Brown, Director - Convertibles Sales.

In Institutional Equity Options, Cowen has expanded efforts by hiring John Longo and Jason Megson, both as Managing Directors. Both Messrs. Longo and Megson were most recently at Oppenheimer & Co., where they were Co-heads of Equity Derivatives Sales and Trading.

About Cowen Group, Inc.

Cowen Group, Inc. is a leading diversified financial services firm providing alternative investment management, investment banking, research, and sales and trading services through its business units, Ramius and Cowen and Company. Its alternative investment management products include hedge funds, fund of funds, real estate funds, healthcare royalty funds, cash management and commodity trading funds, offered primarily under the Ramius name. 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.

Cowen Group, Inc.
Peter Poillon, 646-562-1983
Director of Communications