8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 7, 2011

COWEN GROUP, INC.

(Exact Name of Registrant as Specified in Charter)

Delaware	001-34516	27-0423711
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

599 Lexington Avenue

New York, NY 10022

(Address of Principal Executive Offices and Zip Code)

Registrant’s telephone number, including area code: (212) 845-7900

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02.           Departures of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On October 7, 2011, Cowen Group, Inc. (the “Company”) issued a press release announcing certain management changes at Cowen and Company, LLC (“Cowen”), the Company’s broker dealer platform, a copy of which is attached hereto as Exhibit 99.1.

Jeffrey Solomon has been appointed Chief Executive Officer of Cowen and will oversee all of Cowen’s businesses, including Investment Banking, Capital Markets, Sales & Trading and Research.

Effective as of October 7, 2011, Mr. Solomon will no longer serve as Chief Operating Officer of the Company.

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Item 9.01. Financial Statements and Exhibits.

(d)	Exhibit
99.1	Press Release issued by the Company dated October 7, 2011.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	COWEN GROUP, INC.
Dated: October 7, 2011		By:	/s/ Owen S. Littman
		Name:		Owen S. Littman
		Title:		General Counsel

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EX-99.1

Exhibit 99.1

Press Release

Jeffrey Solomon Appointed Chief Executive Officer at Cowen and Company

Chris McCabe and Kevin Raidy named Co-Heads of Investment Banking

New York, NY, October 7, 2011 — Cowen Group, Inc. (“Cowen”) (NASDAQ: COWN) today announced that, effective immediately, Jeffrey Solomon will assume the role of Chief Executive Officer of Cowen and Company, the firm’s broker dealer platform.  Prior to this position, Mr. Solomon served as Chief Operating Officer of Cowen Group and Head of Investment Banking at Cowen and Company.  In his new role, Mr. Solomon will oversee all of Cowen and Company’s businesses including Investment Banking, Capital Markets, Sales & Trading and Research.

Mr. Solomon is supported by a skilled team that includes Chris McCabe and Kevin Raidy, who were appointed Co-Heads of Investment Banking; Kevin Reynolds, Head of Global Capital Markets; John O’Donoghue, Head of Equities; Tom O’Mara, Head of Equity Derivatives; and Barry Tarasoff, Head of Research.

Peter Cohen, Chairman and Chief Executive Officer of Cowen Group, commented, “Given Jeff’s breadth of experience in the financial services sector, he is the right person to lead Cowen and Company as we continue to organize the broker dealer platform to leverage our market position. His client-focused perspective and understanding of the business will allow us to be more effective in unifying the Cowen and Company platform to meet client needs in this challenging economic environment.”

Jeff Solomon said, “I look forward to capitalizing on the momentum we have been able to achieve to date and to continue re-shaping our business.  We have a tremendous opportunity to take advantage of the current market turmoil by providing innovative financial solutions to meet the needs of our clients across the platform.  I look forward to working with Chris and Kevin in their new roles as well as our entire management team to achieve this goal.”

Background on Jeffrey Solomon

Jeff Solomon was appointed Chief Operating Officer of Cowen Group in May 2010 and Head of Investment Banking at Cowen and Company later that year.  Prior to the Ramius/Cowen Group merger in 2009, Mr. Solomon was a Managing Member and founder of Ramius LLC.  Mr. Solomon joined Ramius when it was founded in 1994 and was responsible for the development, management and oversight of a number of the investment strategies currently employed by Ramius.

From 1991 to 1994, Mr. Solomon was the Chief Administrative Officer at Republic New York Securities Corporation, the brokerage affiliate of Republic National Bank, now part of the HSBC Group.  Mr. Solomon began his career in the Mergers and Acquisitions Group at Shearson Lehman Brothers and was part of the internal corporate finance team that worked closely with senior management in evaluating the Company’s operations, capital usage and investment strategies, including the acquisition and disposition of corporate assets.

Currently, Mr. Solomon is a member of the Committee on Capital Markets Regulation. He is also on the Board of Directors of Hale & Hearty Soups, a New York based restaurant chain, and NuGo Nutrition, the manufacturer of NuGo Nutrition Bars.

Mr. Solomon graduated from the University of Pennsylvania in 1988 with a B.A. in Economics.

About Cowen Group, Inc.

Cowen Group, Inc. is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative investment management, investment banking, research, and sales and trading services through its two business segments: Ramius and its affiliates makes up the Company’s alternative investment management segment, while Cowen and Company is its broker-dealer segment. Its alternative investment management products, solutions and services include hedge funds, replication products, managed futures funds, fund of funds, real estate, health care royalty funds and cash management services. 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.

Contacts:

Sard Verbinnen & Co

Dan Gagnier

212-687-8080

Carissa Ramirez

312-895-4701