MINNEAPOLIS--(BUSINESS WIRE)--Oct. 13, 2015--
Piper
Jaffray Companies (NYSE: PJC), a leading investment bank and asset
management firm, today completed its purchase of BMO Capital Markets
GKST Inc. (“GKST”), BMO Capital Markets’ municipal bond sales, trading
and origination business. The transaction follows last month’s closing
of Piper Jaffray’s acquisition of another Chicago-based firm, River
Branch Holdings LLC.
The GKST acquisition, which was announced
in July, adds depth and breadth to Piper Jaffray’s fixed income
institutional sales, trading and underwriting platform, in addition to
increasing the firm’s public finance presence in the Illinois market. It
will also strengthen the firm’s strategy and analytics capabilities as
it continues to build out its financial institutions franchise.
“We are pleased to welcome GKST to our firm. As we bring our talented
teams and capabilities together, we will provide broader and stronger
fixed income offerings for clients, while expanding our presence in the
Chicago market,” said Andrew
Duff, chairman and CEO of Piper Jaffray.
Terms of the transactions were not disclosed.
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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© 2015 Piper Jaffray Companies, 800 Nicollet Mall, Suite 1000,
Minneapolis, Minnesota 55402-7036
View source version on businesswire.com: http://www.businesswire.com/news/home/20151013005196/en/
Source: Piper Jaffray Companies
Piper Jaffray Companies
Pamela Steensland, 612-303-8185
pamela.k.steensland@pjc.com
