Founded in 1895, Piper Jaffray Companies (PJC) is a middle-market investment bank and institutional securities firm. The company trades on the New York Stock Exchange (NYSE) and is part of the Asset Management industry in the Financial sector. The company’s principal operating subsidiary is Piper Jaffray & Co.
The company has approximately 1,200 employees. Their corporate headquarters are in Minneapolis, Minnesota. They also have a European office in London, England, and an Asian office in Hong Kong. In total, worldwide, the Piper Jaffray Companies have 28 offices. Their first quarter 2008 revenue was $95.7M, and their total stockholders’ equity is $931M.
The company’s Piper Jaffray & Co. subsidiary provides a complete suite of products and services. These include equity and public finance underwriting; mergers and acquisitions advisory services; equity and debt capital markets; and high-yield and structured products. They also include institutional equity, tax-exempt and taxable sales and trading; and equity and high-yield research.
In October of 2007, Piper Jaffray completed the acquisition of Goldbond Capital Holdings Limited, a Hong Kong-based investment bank. This gives the company the opportunity to provide China-based companies with broader access to capital in Hong Kong, Europe, and the United States. In September of 2007, they completed the acquisition of Fiduciary Asset Management (FAMCO) to expand their asset management capabilities. Piper Jaffray Companies operates through three principal business areas—investment banking, institutional securities and asset management.
The company’s middle-market sectors include aircraft finance, business services, clean technology and renewables, consumer, cultural, financial institutions, and social service non-profits, along with education. They also include health care, hospitality, industrial, media, entertainment and telecommunications, real estate, housing and senior living, state and local governments, and technology.
The company’s corporate goals are to gain more expertise in emerging middle-market sectors and expand their geographic reach in the global economy. They are also working to build out their investment management capabilities in key areas and further their commitment to the communities where they do business. They contribute five percent of their pretax earnings to the community through the Piper Jaffray Foundation. They also engage in corporate giving, sponsorships and volunteerism. The company continues to provide value for their clients, communities, and shareholders.
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