Cowen Grows Consumer And Financial Sponsors Investment Banking Practices

Cowen Group, Inc. (NASDAQ:COWN) ("Cowen" or the "Company") today announced that Jeff Schiamberg and Theodore E. Tutun have joined Cowen and Company's investment banking team as Managing Directors. Mr. Schiamberg focuses on Consumer while Mr. Tutun joins as the Head of East Coast Sponsor coverage.

"Our Consumer and Financial Sponsor practices play a vital role as we broaden Cowen's investment banking platform," said Kevin Raidy, Head of Investment Banking. "Jeff and Ted are seasoned professionals who bring additional momentum to our existing consumer and financial sponsor practices. Their well-earned track record of success and deep relationships - from corporate executives and board members to the private equity community - further strengthens our platform. We look forward to their contributions to Cowen."

Today's announcement follows previously announced additions to Cowen's investment banking team including: A. Scott Lemone (Head of Consumer), Steven A. Levy (Head of Financial Sponsors), Craig E. Zaph (Head of Debt Capital Markets), Stephen Clarke (Industrials), Zachary Fisher (Technology, Media and Telecom) and Prasad Parmeshwaran (Health Care M&A).

Cowen's investment banking professionals bring tailored solutions and unbiased advice to corporate clients rather than leading with a product first approach. Cowen has demonstrated expertise with growth companies in debt and equity capital raising as well as merger and equity stakes, cross-border transactions, shareholder activist situations and takeover defenses. Cowen's core sectors include: health care, TMT, information and technology services, consumer, industrials, energy and transportation.

Biographies:

Jeff Schiamberg

Mr. Schiamberg is a Managing Director in Cowen's Consumer investment banking group. Most recently he was with RBC Capital Markets where he spent seven years as a Managing Director in the Consumer and Retail group. Prior to that, he was a Managing Director with Bank of America's Consumer and Retail investment banking group. Mr. Schiamberg was also a Vice President with Merrill Lynch's investment banking group and an Associate at Deutsche Bank Alex Brown. Mr. Schiamberg began his career at Coopers and Lybrand. Mr. Schiamberg holds a BA from the University of California at Los Angeles and an MBA from The Wharton School at the University of Pennsylvania.

Theodore E. Tutun

Mr. Tutun is a Managing Director and Head of East Coast Sponsor Coverage at Cowen. Prior to joining Cowen, Mr. Tutun spent over nine years at Jefferies where he helped build its Boston financial sponsor practice. Previously, Mr. Tutun was a senior industrial banker at CIBC, Bank of America and Credit Suisse First Boston. Mr. Tutun graduated with honors from Harvard College and has an MBA from Columbia Business School.

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, a member of FINRA and SIPC, 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. For additional information, visit www.cowen.com.

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