Ramius chooses CEO

(updated with correction)

Michael Singer joined alternative investment manager Ramius as CEO, effective Dec. 10, confirmed Daniel Gagnier, a company spokesman.

Mr. Singer replaces Thomas W. Strauss, who was named chairman of Ramius and vice chairman of parent Cowen Group. Both of Mr. Strauss' positions are new, Mr. Gagnier said.

Mr. Strauss will continue to work closely with Ramius to expand the company's strategic relationships, distribution channels and client relationships. He also will work with Peter Cohen, Cowen Group's chairman, to enhance and expand Cowen's quantitative trading unit.

Mr. Singer was head of alternative investments for Third Avenue Management. Bridget Wysong, a spokeswoman for Third Avenue, did not return a call seeking information about Mr. Singer's replacement.

Ramius managed $10 billion in hedge fund, hedge funds of funds and other alternative investment strategies as of Oct. 1.