Ramius LLC announced that Michael Singer as CEO is leaving to pursue new career opportunities. Fred Fraenkel, Vice Chairman of Cowen, has been named interim Head of Asset Management. Prior to joining Cowen, Mr. Fraenkel was President of Fairholme Capital Management and Chief Research Officer since 2011.

Prior to Fairholme, Mr. Fraenkel was Vice Chairman and Chairman of the Investment Policy Committee of Beacon Trust Company. Prior to that, he served as Vice Chairman of ING Barings Furman Selz and Chief Operating Officer of Furman Selz. Prior to Furman Selz, Mr. Fraenkel spent seven years at Lehman Brothers, where he was a Managing Director and Director of Global Research.

Prior to Lehman Brothers, Mr. Fraenkel was Chairman and Chief Executive Officer of Market America Group, an investment advisory firm. He also spent four and a half years as Director of Equity Research and a member of the Board of Directors at Prudential Securities.