MINNEAPOLIS--(BUSINESS WIRE)--Piper Jaffray Companies (NYSE: PJC), a leading investment bank and asset management firm, announced today it has completed its purchase of River Branch Holdings LLC, a Chicago-based investment banking boutique that serves clients in the financial institutions industry.
The transaction was announced in July soon after Piper Jaffray expanded its financial institutions group (FIG) with the addition of five managing directors from Sterne Agee. Piper Jaffray also plans to complete its acquisition of BMO Capital Markets GKST Inc., another Chicago-based company in the fourth quarter.
David Olson, former River Branch Holdings chairman and CEO, and Steven Kent, former president, will be joining Piper Jaffray as the co-head of financial institutions investment banking and vice chairman of investment banking respectively.
“We are pleased to complete the acquisition of River Branch Holdings and eager to welcome David’s and Steve’s expert team,” said Andrew Duff, chairman and CEO of Piper Jaffray. “This acquisition is highly additive as we pursue the financial services sector more aggressively and grow our Chicago presence.”
Financial terms of the transactions are undisclosed.
About Piper Jaffray
Piper Jaffray Companies (NYSE: PJC) is an investment bank and asset management firm headquartered in Minneapolis with offices across the U.S. and in London, Zurich and Hong Kong. Securities brokerage and investment banking services are offered in the United States through Piper Jaffray & Co., member NYSE and SIPC, in Europe through Piper Jaffray Ltd., authorized and regulated by the Financial Conduct Authority, and in Hong Kong through Piper Jaffray Hong Kong, authorized and regulated by the Securities and Futures Commission. Asset management products and services are offered through three separate investment advisory affiliates registered with the U.S. Securities and Exchange Commission: Advisory Research Inc., Piper Jaffray Investment Management LLC and PJC Capital Partners LLC.
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