Piper Jaffray Companies (NYSE:PJC)
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Piper Jaffray & Co. has expanded its aircraft finance team to strengthen
its industry-leading aircraft finance business. The new additions to the
team include Doug Runte, Scott Sodokoff, Dan Reese and John Covello, who
will add substantial depth, breadth and an increased level of client
service to the firm’s foundation of structured
analytics expertise. Altogether, they bring nearly 50 years of
experience in structured finance products from prominent firms on Wall
Street, including Bear Stearns, Morgan Stanley, RBS Greenwich Capital
and UBS, to Piper Jaffray.
“This team brings significant knowledge of the
airline industry to the firm, which complements our existing business in
aviation-related structured products,” said
Ben May, managing director and head of fixed income services. “The
expansion of this team will allow us to broaden our expertise into
airline credit default swaps, airport facility bonds and other loan
products.”
Runte has more than 15 years of experience in fixed income, providing
coverage of airlines and aircraft-backed securities, airline special
facility bonds, aerospace and defense, and other industry sectors. He
joins Piper Jaffray as a managing director and senior analyst in fixed
income analytics in New York. He was previously a managing director at
RBS Greenwich Capital where focused on the transportation sector, as
well as airline debt and aircraft-backed securities, such as enhanced
equipment trust certificates (EETCs). Runte has been consistently ranked
by Institutional Investor magazine as a top analyst in the
transportation sector in its annual survey of major institutional
investors. He graduated magna cum laude with a bachelor’s
degree from Duke University, holds a Master of Business Administration
degree with a concentration in finance from the Kellogg School of
Management at Northwestern University and is a CFA Charterholder.
With more than 21 years of transactional experience as a senior trader,
desk and group head in the credit fixed income market, Sodokoff joins
Piper Jaffray as a managing director and senior trader in the New York
office. He was previously a managing director and senior trader at Bear
Stearns & Co. Inc. where he focused on EETCs, project finance and
credit-enhanced structures. He held similar roles at UBS Investment Bank
and Prudential Securities Inc., focusing on credit-enhanced vehicles.
Sodokoff earned a bachelor’s degree from
Dartmouth College.
Reese rejoins the aircraft finance team as a senior desk analyst in
Minneapolis to expand the team’s expertise in
aviation-related securities and strategic opportunities. He was
previously a vice president and research analyst at Piper Jaffray where
he focused on aircraft asset-backed securitizations (ABS), EETCs and
other structured finance sectors, and spent several years providing
analysis of the structured finance market, helping to build the firm’s
original aircraft sector expertise. Reese graduated cum laude with a
bachelor’s degree from St. Olaf College.
Covello has more than 12 years of trading experience and previously
worked at Bear Stearns for more than 10 years. At Piper Jaffray, he
supports the aircraft finance team as a trader in the New York office
where he focuses primarily on secured airline debt, energy project debt
and private placements. He has also coordinated retail and institutional
sales with the institutional trading desk. Covello holds a bachelor’s
degree in banking and finance from Hofstra University.
About Piper Jaffray
Piper Jaffray Companies (NYSE: PJC) is a leading, international
middle-market investment bank and institutional securities firm, serving
the needs of middle-market corporations, private equity groups, public
entities, nonprofit clients and institutional investors. Founded in
1895, Piper Jaffray provides a comprehensive set of products and
services, including equity and debt capital markets products; public
finance services; mergers and acquisitions advisory services; high-yield
and structured products; institutional equity and fixed-income sales and
trading; and equity and high-yield research. With headquarters in
Minneapolis, Piper Jaffray has 25 offices across the United States and
international locations in London, Hong Kong, and Shanghai. Piper
Jaffray & Co. is the firm's principal operating subsidiary. (http://www.piperjaffray.com)
© 2008 Piper Jaffray & Co., 800 Nicollet
Mall, Suite 800, Minneapolis, Minnesota 55402-7020