Peter Cohen, former Chairman and CEO of Shearson Lehman Brothers, founded Ramius in 1994 by with Jeffrey Solomon, a former CAO and Head of Corporate Development at Republic New York Securities Corp founded Ramius in 1994. Salomon Brothers veteran Thomas Strauss and Morgan Stark, former President and CEO of Chemical Securities, signed on with the firm soon thereafter.
Cohen named the firm after the protaganist in Tom Clancy's "The Hunt for Red October" who seizes a Soviet submarine. The name means "good captain."1
A decade later Ramius merged its fund of funds business with Bayerische Hypo-Vereinsbank AG (HVB) to create Ramius Fund of Funds Group. Ramius continued to control the day-to-day decisions of the group.