Cowen Streamlines Alternatives Business

Feb 12 2010 | 1:20am ET

The Cowen Group—the former Ramius Group—is streamlining the leadership of its alternative investments business.

Thomas Strauss has been named president and CEO of Ramius Alternative Investment Management and Morgan Stark its chairman and head of macro strategies. Both men will report to Peter Cohen, the Ramius founder who now serves as chairman and CEO of Cowen.

“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,” Cohen said. “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 made a point of emphasizing that it would maintain a “strict division” between the investment and research teams in its hedge fund and funds of hedge funds, and their core support functions.

Ramius reverse-merged with Cowen, a boutique investment bank, last year.

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