Piper Sandler Companies

Piper Sandler Companies

Company type	Public company
Industry	Investment banking, Financial services
Founded	January 1, 1895 (1895-01-01) in Minneapolis, Minnesota, United States
Founder	George Lane
Headquarters	Minneapolis , United States
Area served	Worldwide (5 countries)
Key people	Chad Abraham (CEO)
Products	Mergers and acquisitions, financial restructuring, public offerings, public finance, institutional brokerage, asset management, securities analysis
Website	www.pipersandler.com

Piper Sandler Companies is a global American investment banking and financial services organization with expertise in mergers and acquisitions, financial restructuring, public offerings, public finance, institutional brokerage, asset management, and securities analysis. Its main operating entity, Piper Sandler & Co., provides services to corporations, institutional investors, and governmental bodies.

Established in 1895 and based in Minneapolis, Minnesota, Piper Sandler maintains a presence through more than 60 offices located in five different countries.

History

The origins of Piper Sandler date back to 1895 when George Lane founded George B. Lane, Commercial Paper and Collateral Loans & Co. in Minneapolis. Later, in 1913, H.C. Piper Sr. and Clive Palmer Jaffray launched Piper, Jaffray & Co., a firm specializing in commercial paper brokerage. These two companies merged in 1917 to create Lane, Piper & Jaffray.

In 1931, the firm gained membership on the New York Stock Exchange by purchasing Hopwood & Company. Piper Jaffray & Hopwood became the first regional brokerage to go public in 1971. Its common shares were listed on NASDAQ beginning in 1986 under the ticker symbol PIPR.

The company adopted the name Piper Jaffray Inc. in 1992. In 1998, U.S. Bancorp acquired it for $730 million, operating as U.S. Bancorp Piper Jaffray until it was spun off in 2003 and resumed independent operations under the ticker PJC. The brokerage segment was sold to UBS in 2006 for $510 million.

On July 9, 2019, Piper Jaffray completed the acquisition of Sandler O'Neill, a financial services investment bank, for $485 million. This merger resulted in the formation of Piper Sandler Companies with Chad Abraham continuing as CEO of the combined enterprise.

Acquisition history

2004: Vie Securities, LLC was acquired by Piper Jaffray.

2007: The firm expanded by purchasing FAMCO and Hong Kong-based Goldbond Capital Holdings Limited.

2010: Advisory Research, Inc. was added to enhance money-management capabilities.

2013: Seattle-Northwest Securities Corporation and Edgeview Partners, L.P. were acquired to strengthen regional market coverage.

2015: River Branch Holdings was bought to extend financial service offerings.

2016: Simmons & Company International was acquired for $139 million to bolster advisory services within the energy sector.

2019: Weeden & Co., L.P. joined the company’s capital markets division through acquisition.

2020: The acquisition of Sandler O'Neill + Partners led to rebranding as Piper Sandler Companies; The Valence Group and TRS Advisors were also acquired to enhance restructuring and advisory expertise.

2022: Growth continued with acquisitions of Cornerstone Macro, Stamford Partners LLC, and DBO Partners to improve macroeconomic research and technology-focused investment banking platforms.

Regulator fines

In 2002, state and federal regulators imposed a $25 million penalty on Piper Sandler as part of the Global Analyst Research Settlements addressing conflicts of interest related to biased stock ratings. Other prominent firms such as JP Morgan, Goldman Sachs, Merrill Lynch, UBS, Deutsche Bank, and Morgan Stanley received comparable sanctions. As part of the settlement, Piper Sandler committed to structural reforms within its research and investment banking operations aimed at rebuilding market trust.

External links

• Researchers can access the Piper Jaffray Corporate Records through the Minnesota Historical Society.