Cowen Group, the US investment bank spun off by Société Générale last year, has named an ex-Merill Lynch veteran as its new vice-chairman.

Scott Ryles' career on Wall Street was highlighted by the 15 years he worked at Merrill Lynch and the three years he spent running his own firm. He held senior positions at Merrill from 1984 to 1999 that included serving as the co-head of west coast investment banking, and global head of natural resources.