Piper Jaffray Companies (NYSE:PJC)
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Piper Jaffray Expands Fixed Income Sales and Trading Capabilities in New York
- Firm Hires 14 Sales and Trading Professionals Formerly With Mellon Financial
Corporation -
NEW YORK, March 1 /PRNewswire-FirstCall/ -- Piper Jaffray & Co. is pleased to
announce the strategic addition of 14 new sales and trading professionals to its
Fixed Income New York office. The team, formerly with Mellon Financial
Corporation, joined the Piper Jaffray Fixed Income dealer sales, corporate
trading, trading operations and sales teams. The additions are part of the
firm's strategy to enhance execution capabilities, including electronic trading
and market making and extend its platform for middle-market clients. The new
trading group is located in the firm's Chrysler Building offices in mid-town
Manhattan.
"We are excited to launch this new effort in corporate sales and trading in our
New York office," said Barry Nordstrand, head of Fixed Income at Piper Jaffray.
"These 14 individuals bring deep experience and talent to our platform and help
us better serve our middle-market clients. In addition, the team allows us to
fully implement our strategy of serving corporate bond investors."
The team consists of Michael Cullen and Jonathan Silverman, who joined thefirm
as managing directors and senior corporate traders. Cullen and Silverman joined
the firm after spending the past two and a half years as corporate bond traders
at Mellon. They serve as co-team leaders on the corporate bond desk in New
York.
Joining Cullen and Silverman is Izzy Emek, who is a managing director and senior
corporate bond trader. Emek joined the firm after working the past two and a
half years at Mellon, where he was a bond trader.
Alison Prager and Helen Keegan joined the New York office as managing directors
and co-team leaders in dealer sales. Prager and Keegan joined the firm from
Mellon, where they worked in dealer sales for the past two and a half years.
Peter Knapp joined the firm as a vice president in dealer sales from Mellon,
where he worked in corporate bond sales. Charles Dugan also joined the firm
from Mellon as a vice president responsible for fixed income electronic trading.
In addition, Jim Paviolitis joined the firm as an assistant vice president in
dealer sales. Paviolitis most recently worked at Mellon in agency dealer
sales.
In trading operations, the firm hired John Holman from Mellon as a managing
director. Holman is responsible for working with partners in technology to get
the firm up and running and managing day-to-day trading issues. Eugene
Klechevsky and Dow Crescibene join Holman in providing day-to- day support for
the corporate trading desk. Both spent the past two and a half years in trading
support at Mellon.
"We are thrilled tohave this team join us in our strategic effort to expand our
dealer sales and trading presence in New York," said Mike Effron, head of fixed
income trading at Piper Jaffray. "The addition of the traders and dealers desk
allows us to expand our corporate bond trading platform and is the perfect
complement to our current research based trading platform."
In addition, the firm hired three corporate bond specialist sales staff from
Mellon. John Akalski joined as a managing director, Paul Gallagher as a
managing director and Matt Duffy as assistant vice president.
"We are pleased to have John, Paul and Matt join our sales efforts in our New
York office," said Jim Roddy, head of fixed income institutional sales at Piper
Jaffray. "The addition strengthens our platform allowing us to extend our
market making services and coverage more broadly. Finding the combination of
such talented and experienced professionals is very fortunate for our firm."
These 14 new hires are part of an on-going expansionplan at Piper Jaffray.
Since opening its fixed income New York trading desk in May 2002, Piper Jaffray
has added 31 sales and trading employees in municipals, mortgages and corporates
in New York. Overall, the firm has 36 fixed income employees in its New York
office.
Headquartered in Minneapolis, Piper Jaffray & Co., a subsidiary of Piper Jaffray
Companies (NYSE:PJC), is a focused securities firm dedicated to delivering
superior financial advice, investment products and transaction execution within
selected sectors of the financial services marketplace. The company operates
through two primary revenue-generating segments -- Capital Markets and Private
Client Services. Investment Research, an independent group reporting to the
CEO, supports clients of both segments. The firm serves corporations,
government and non-profit entities, and institutional investors on a national
basis and serves the financial advisory needs of private individuals
predominantly across the western half of the UnitedStates. The firm has over
2900 employees in 111 offices in 23 states across the country and in London,
England. For more information about Piper Jaffray, visit us online at
http://www.piperjaffray.com/ .
Since 1895. Member SIPC and NYSE.
DATASOURCE: Piper Jaffray & Co.
CONTACT: Susan Beatty, Public Affairs and Media Relations of Piper
Jaffray, +1-612-303-5680
Web site: http://www.piperjaffray.com/