Cowen Expands Investment Banking Team

Cowen Group, Inc. (NASDAQ:COWN) (“Cowen” or the “Company”) today announced the expansion of Cowen and Company’s investment banking team with the addition of four managing directors: Stephen Clarke, Industrials; Zachary Fisher, Technology, Media and Telecommunications (TMT); A. Scott Lemone, Retail and Consumer; and Prasad Parmeshwaran, Health Care M&A. Mr. Clarke, Mr. Fisher and Mr. Lemone have also brought their existing book of mandates to be completed at Cowen and Company.

“Today’s announcement is a continuation of Cowen’s disciplined plan to expand its investment banking capabilities within our focus sectors,” said Kevin Raidy, Head of Investment Banking. “Our new colleagues enhance our existing capabilities in industrials, TMT, consumer and health care. Stephen, Zach and Scott are highly experienced in counseling clients to achieve their unique goals, either through M&A or financing. Prasad is an accomplished banker specializing in health care M&A. These four professionals’ proven track record as trusted advisors to corporate executives and board members will be a natural complement to Cowen’s banking franchise. With a list of existing mandates in hand, our new bankers are already a step ahead as they work to complete these transactions. We look forward to their success on our growing platform.”

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:

Stephen Clarke

Mr. Clarke is a Managing Director in Cowen’s industrials investment banking group. He joins Cowen from Morgan Joseph TriArtisan where he spent 12 years. He was a Managing Director in its industrials investment banking group. Prior to that, he was with Capital IQ/CapitalKey Advisors and Magnum Resources. Mr. Clarke received a BA from Duke University.

Zachary Fisher

Mr. Fisher is a Managing Director on Cowen’s TMT investment banking team. With over 17 years of experience, Mr. Fisher joins Cowen from Morgan Joseph TriArtisan where he was a Managing Director focused on the technology and media sectors. Previously, he worked at ABN AMRO in the mergers and acquisitions group and ING Barings Furman Selz in the media & entertainment investment banking group. Mr. Fisher holds a BS in finance from Lehigh University.

A. Scott Lemone

Mr. Lemone is a Managing Director and head of Cowen’s retail and consumer investment banking group. Mr Lemone brings over 27 years of experience advising and raising capital for many of the leading retailers in the US. Most recently, Mr. Lemone was at TriArtisan Capital Partners where he led the firm's investing in the retail sector. Prior to that, he was head of the retail groups at SunTrust Robinson Humphrey, Lehman Brothers and Merrill Lynch. Mr. Lemone received a BS with honors from Bentley College and an MBA with honors from the Stern School of Business at New York University.

Prasad Parmeshwaran

Mr. Parmeshwaran is a Managing Director overseeing Cowen's Health Care M&A and strategic advisory efforts. Previously, he spent over a decade at Goldman Sachs, initially in healthcare investment banking and then as an independent advisor for select Goldman Sachs health care portfolio companies. Prior to joining Cowen, Mr. Parmeshwaran founded a specialty pharmaceutical company focused on investing and advising companies in the space. Mr. Parmeshwaran began his career with Merrill Lynch’s investment banking team. Mr. Parmeshwaran received a post graduate diploma from the Indian Institute of Management and an MBA from the Stern School of Business at New York University.

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, and sales and trading 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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