Piper
Jaffray
Securities and investment
firm.
Headquarters:
800 Nicolett Mall, Suite 800
Minneapolis, MN 55402
Employees: 1,100
CEO: Andrew Duff
Stock Symbol: PJC
Website:
http://www.piperjaffray.com
Career
Site
Piper Jaffray is a middle market investment
bank and institutional securities firm.
Piper Jaffray & Co., the firm's principal
operating subsidiary, provides a comprehensive set of products
and services, including equity and public finance underwriting;
mergers and acquisitions; equity and debt capital markets; high-yield
and structured products; institutional equity, tax-exempt and
taxable sales and trading; and equity and high-yield research.
The firm's equity business is focused on seven sectors of the
economy: alternative energy, business services, consumer, financial
institutions, health care, industrial growth and technology.
The firm's public finance business is principally focused on
five sectors of the tax-exempt market: state and local governments,
real estate and housing, health care, education and hospitality.
With headquarters in Minneapolis, Piper
Jaffray has 27 offices in the U.S. and London.
In 2006, the company reported revenues
of $502.9 million and net income of $62.9 million.
The company announced this year it will
acquire Fiduciary Asset Management (FAMCO) and Goldbond Capital
Holdings Limited (Goldbond).
History
1895 -
George Lane establishes George B. Lane, Commercial Paper and
Collateral Loans & Co., a commercial paper brokerage, in
Minneapolis. Lane offered promissory notes to businesses, focusing
on Minnesota's growing grain elevator and milling industries.
1913 -
H.C. Piper Sr., grandfather of today's Vice Chairman, and C.P.
Jaffray establish their own commercial paper business called
Piper, Jaffray Co.
1914 - F.P. Hopwood and his son, Robert Gaddis Hopwood,
introduce Hopwood Investment Co. to Minneapolis, specializing
in mortgage loans, real estate and insurance.
1917 - George B. Lane & Co. merges with Piper, Jaffray
& Co. to form Lane, Piper & Jaffray, brokers of commercial
paper securities.
1929 -
The stock market crash hits the firm of Hopwood & Company
hard, while Lane, Piper & Jaffray, which hasn't yet traded
listed securities, is not directly affected by it. Strapped for
cash, Hopwood welcomes acquisition overtures. Piper Jaffray &
Hopwood is formed and the new firm gains a seat on the NYSE.
1971 -
On July 29, the firm becomes the first regional brokerage firm
to offer its own stock for public sales. Investors buy 300,000
shares of common stock.
1985 -
The company moves to a building bearing its own name and striking
silhouette on the Minneapolis landscape: The Piper Jaffray Tower.
1986 - Common stock of Piper Jaffray begins trading on
Nasdaq under the symbol PIPR.
1992 -
The name of the broker/dealer changes from Piper Jaffray &
Hopwood Incorporated to Piper Jaffray Inc.
1997 -
On December 15, 1997, Piper Jaffray is acquired by U.S. Bancorp
in a cash transaction valued at $730 million. The acquisition
closes May 1, 1998.
1999 - The company changes its name to U.S. Bancorp Piper
Jaffray to reflect its partnership with parent company U.S. Bancorp.
2000 -
In May, the headquarters for U.S. Bancorp Piper Jaffray moves
to a new tower-the U.S. Bancorp Center at 800 Nicollet Mall in
Minneapolis. The firm now has more than 100 retail offices in
20 Midwest, Mountain and Western states.
On October 4, 2000, Firstar Inc., based in Milwaukee,
announces that it will acquire U.S. Bancorp. The transaction
closes on February 27, 2001, giving way to the 8th largest financial
services organization with $160 billion in assets and branch
offices in 24 states in the Midwest and West. U.S. Bancorp becomes
the name of the new entity.
December 31, 2003,
Piper Jaffray became an independent, publicly held company following
its spin-off from U.S. Bancorp.
Aug. 14, 2006,
Piper Jaffray completes the sale of its Private Client Services
branch network to UBS Financial Services, allowing Piper Jaffray
to focus entirely on building the leading middle market investment
bank.
Benefits
Health and welfare benefits
- Medical, dental and vision benefits
for full-time and regular part-time employees
- Employees can cover either their spouse or other qualified
adult in addition to eligible dependent children
- Life insurance
- Long- and short-term disability
Pre-tax payroll deductions for:
- qualified health care expenses
- qualified child/dependent care expenses
- work-related mass transit expenses
- work-related parking expenses
Retirement plan
- 401(k) saving and investment
plan
- 401(k) company match
- Profit sharing
Work and life programs
- Paid time off
- Parental leave
- Holidays
- Tuition reimbursement
- Corporate wellness
- Adoption assistance
- Life Works: employee assistance program
- Discounts on Piper Jaffray financial products and services
- Mother's room for nursing mothers
Updated August 4, 2007
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