Piper Jaffray

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Overview: Piper Jaffray was founded in 1895 and is headquartered in Minneapolis. As a middle market investment firm, Piper Jaffray focuses on serving companies whose annual revenues are under $1 billion, but over $25 million. It also serves private equity groups, public entities, nonprofits and institutional investors. Its main operating divisions are:

  • Investment Banking
  • Institutional Brokerage
  • Asset Management

Job Openings: See this list of current job openings.

Size: Piper Jaffray reports these figures as of September 30, 2008:

  • Employees = 1,172
  • U.S. offices = 28
  • International offices = 3 (London, Hong Kong, Shanghai)
  • Market maker in over 800 NASDAQ stocks
  • Trades in over 1,200 listed securities
  • Has research coverage on over 600 mid-cap stocks
  • Assets under management = $7.4 billion

Positives: Piper Jaffray is a long-established and well-respected firm in its market niche, the middle markets. Total employee headcount is up slightly from the year-ago level.

Negatives: Piper Jaffray has recorded a net loss from contiunuing operations of $35.0 million over the first 9 months of 2008, versus a $29.9 million over the same period in 2007.

The small size of Piper Jaffray can be both a positive (limited bureaucracy) and a negative (limited promotional opportunities). However, in the current environment smaller investment banking firms like Piper Jaffray generally have held up better than their larger rivals, and are hiring talent from larger firms that are scaling back.

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