 | This articlehas an unclearcitation style. The references used may be made clearer with a different or consistent style ofcitation andfootnoting.(January 2021) (Learn how and when to remove this message) |
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 Headquarters atUS Bancorp Center | |
| Company type | Public |
|---|---|
| Industry | Financial services |
| Founded | 1895; 130 years ago (1895) inMinneapolis, Minnesota, U.S. |
| Headquarters | U.S. Bancorp Center Minneapolis, Minnesota, U.S. |
Key people |
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| Products |
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| Revenue |  US$1.36 billion (2023) |
| US$85.5 million (2023) | |
| Total assets | US$2.14 billion (2023) |
| Total equity |  US$1.30 billion (2023) |
Number of employees | 1,725 (2023) |
| Website | pipersandler |
| Footnotes / references [1] | |
Piper Sandler Companies is an American multinationalinvestment bank andfinancial services company, focused onmergers and acquisitions, financial restructuring, public offerings, public finance, institutional brokerage, investment management, and securities research. Through its principal subsidiary, Piper Sandler & Co., the company targets corporations,institutional investors, and public entities.
Founded in 1895 and headquartered in Minneapolis, Minnesota, Piper Sandler has more than 60 offices spanning across five countries.[2]
Piper Sandler's roots can be traced back to 1895 when George Lane established George B. Lane, Commercial Paper and Collateral Loans & Co., acommercial paper brokerage, inMinneapolis. In 1913, Piper, Jaffray & Co. was established as another commercial paper business by H.C. Piper Sr. and Clive Palmer Jaffray.[3] In 1917, George B. Lane & Co. merged with Piper, Jaffray & Co. to form Lane, Piper & Jaffray.[4]
The firm first obtained a seat on the New York Stock Exchange in 1931 with the acquisition of Hopwood & Company, which had been devastated by thestock market crash.[5] In 1971, Piper Jaffray & Hopwood became the first regional brokerage firm to offer its own stock for public sales, becoming a publicly held corporation.[5] Later, in 1986, Piper's common stock began trading on theNASDAQ under the ticker symbol PIPR.
In 1992, the name of the broker-dealer changed from Piper Jaffray & Hopwood Incorporated to Piper Jaffray Inc.[5]
In 1998, the firm was acquired byU.S. Bancorp, also based in Minneapolis, for $730 million in cash.[3] From 1999 to 2003, the firm was known as U.S. Bancorp Piper Jaffray. In 2003, U.S. Bancorp spun off Piper Jaffray[6] in a stock dividend to its shareholders, making the company independent once again under the symbol PJC. In 2006, the company sold its brokerage business toZurich-basedUBS for $510 million in cash.[7] The business had approximately 800 brokers at that time.[7]
On July 9, 2019, Piper Jaffray announced the purchase of leading financial services investment bankSandler O'Neill for $485M; the new combined firm is named Piper Sandler Companies. Piper Jaffray CEO Chad Abraham would continue to lead the combined company.[8]
2004: Piper Jaffray acquired Vie Securities, LLC.[9]
2007: Piper Jaffray acquires FAMCO,[10] acquiresHong Kong–based investment bank Goldbond Capital Holdings Limited[3]
2010: Piper Jaffray acquiresAdvisory Research, Inc.[11]
2013: Piper Jaffray acquires Seattle-Northwest Securities Corporation,[12] acquires Edgeview Partners, L.P.[13]
2015: Piper Jaffray acquires River Branch Holdings[14]
2016: Piper Jaffray acquires Simmons & Company International[15]
2019: Piper Jaffray acquires Weeden & Co., L.P.[16]
2020: Piper Jaffray acquiresSandler O'Neill + Partners,[17] becoming Piper Sandler Companies. Piper Sandler acquires The Valence Group,[18] acquires TRS Advisors[19]
2022: Piper Sandler acquires Cornerstone Macro,[20][21] acquires Stamford partners LLC,[22] acquires DBO Partners[23]
In 2002, Piper Sandler was fined $25 million by state and federal regulators to settle charges of providing biasedstock ratings as part of theGlobal Analyst Research Settlements. Other firms, includingJP Morgan,Goldman Sachs,Merrill Lynch,UBS,Deutsche Bank, andMorgan Stanley, were fined for similar reasons. Piper Sandler agreed to implement structural changes to its research and investment banking programs to restore confidence in its business.[24]
