Piper Jaffray & Co.
(), often shortened to just Piper Jaffray
, is a U.S. middle-market investment banking
firm based in Minneapolis, Minnesota
, and sells financial advice, investment products, and transaction execution within targeted sectors of the financial services marketplace. Through its principal subsidiary, Piper Jaffray & Co., the Company targets corporations, government, non-profit entities, institutional investors
, and the financial advisory
needs of private individuals.
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 C.P. 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 Minneapolis
based U.S. Bancorp
for $730 million in cash. From 1999 to 2003, the firm was known as U.S. Bancorp Piper Jaffray. In 2003 U.S.... Read More