Piper Jaffray
Realize the Power of Partnership™
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| Public | |
| Traded as | : PJC S&P 600 Component |
| Industry | Financial Services |
| Founded |
Minneapolis, Minnesota 1895 |
| Headquarters | Minneapolis, Minnesota, United States |
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Key people
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Andrew S. Duff, Chairman and CEO |
| Products | Investment Banking, Public Finance, Asset Management, Equity Sales & Trading, Fixed Income Services, Equity and Debt Capital Markets, Investment Research |
| Revenue | $696.3 Million (2015) |
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Number of employees
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1,300 |
| Website | www.piperjaffray.com |
Piper Jaffray Companies (NYSE: PJC) is a full-service investment bank and asset management firm focused on mergers and acquisitions, financial restructuring, public offerings, public finance, institutional brokerage, investment management and securities research. Through its principal subsidiary, Piper Jaffray & Co., the company targets corporations, institutional investors, and public entities.
Based in Minneapolis, Minnesota, Piper Jaffray has 54 offices in the U.S., Europe and Asia. The company was founded in 1895.
In 2015, Forbes magazine recognized Piper Jaffray on its list of America's 50 Most Trustworthy Financial Companies.Piper Jaffray was also named 2014 Investment Bank of the Year by Mergers & Acquisitions Journal.
Piper Jaffray traces its roots to 1895 when George Lane established George B. Lane, Commercial Paper and Collateral Loans & Co., a commercial paper brokerage, in Minneapolis. In 1913, Piper, Jaffray Co. was established as another commercial paper business by H.C. Piper Sr. and Clive Palmer (C.P. or Palmer) Jaffray. In 1917, George B. Lane & Co. merged with Piper, Jaffray & Co. to form Lane, Piper & Jaffray.
The firm first obtained a seat on the New York Stock Exchange in 1931 with the acquisition of Hopwood & Company, which had been devastated by the stock market crash. In 1971, Piper first offered stock to the public and became a publicly held corporation known as Piper, Jaffray & Hopwood Incorporated. Later, in 1986, Piper's common stock began trading on the NASDAQ under the ticker symbol PIPR. In 1997, the firm was acquired by U.S. Bancorp, also based in Minneapolis, for $730 million in cash. From 1999 to 2003, the firm was known as U.S. Bancorp Piper Jaffray. In 2003, U.S. Bancorp spun off Piper Jaffray in a stock dividend to its shareholders, making the company independent once again under the symbol PJC. In 2006, the company sold its brokerage business to Zurich-based UBS for $510 million in cash. The business had approximately 800 brokers at that time.
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Wikipedia