Cowen Group To Streamline Alternative Investment Management Business

Published: 09-Feb-2010

Cowen Group, a New York-based diversified financial services firm, plans to streamline its alternative investment management business through the integration of the senior management and certain aspects of the infrastructure of Ramius' hedge fund and fund of funds businesses.

Cowen Group noted that while some business infrastructure will be integrated, Ramius will continue to maintain a strict division between the respective investment and research teams in fund of funds and hedge fund areas and the core support functions that necessarily require a separation between the businesses. In addition, the real estate and Cowen healthcare royalty partners businesses within the asset management business will remain unaffected by these developments.

These organizational developments will facilitate efficiencies within the Ramius alternative investment management business to better serve the needs of clients and position the business for future growth.

Effective immediately, Thomas Strauss will be the president and CEO of this integrated unit and Morgan Stark will be the chairman and head of macro strategies. Mr Strauss will be responsible for the daily running of the business and he along with Mr Stark will report to Peter Cohen, the chairman and CEO of Cowen Group.

Mr Cohen said: "Unifying the senior management and certain aspects of the back office for these two businesses will allow us to streamline our operations, and integrate and enhance our marketing and client services efforts through improved product coordination. This business is about clients and opportunity and we will always look at ways to improve our service and ability to deliver a premier suite of products and solutions to both institutional and private investors."

Cowen Group is a diversified financial services firm providing alternative investment management, investment banking, research, and sales and trading services through its business units Ramius and Cowen.

Its alternative investment management products include hedge funds, fund of funds, real estate, healthcare royalty funds and cash management, offered primarily under the Ramius name.

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