Piper Jaffray Enters Definitive Agreement to Acquire River Branch Holdings, LLC, Furthering Expansion of Its Financial Instit...
July 13 2015 - 8:00AM
Business Wire
Piper Jaffray Companies (NYSE: PJC), a leading investment bank
and asset management firm, today announced that it has entered
a definitive agreement to acquire River Branch Holdings, LLC, an
investment banking boutique focused on the financial institutions
sector. The acquisition will further strengthen Piper Jaffray’s
M&A leadership and add significant investment banking resources
dedicated to banks, thrifts and depository institutions. This
announcement follows the hiring of five managing directors in FIG
investment banking last month, along with Piper Jaffray’s recent
expansion of its FIG-focused equity research and institutional
sales and trading groups.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20150713005197/en/
David Olson, chairman and CEO of River
Branch Holdings, LLC (Photo: Business Wire)
“We are pleased to welcome this industry veteran team to our
firm. River Branch Holdings, with its partnership-centric culture,
middle-market advisory capabilities and senior talent, will be an
instrumental component of our plan to compete aggressively in the
financial services sector,” said Andrew Duff, chairman and CEO of
Piper Jaffray.
River Branch Holdings is led by David Olson and Steven Kent.
Olson will serve as co-head of Piper Jaffray financial institutions
investment banking, alongside Bob Hutchinson. Kent will serve as a
vice chairman of investment banking.
- David Olson is the chairman and CEO of
River Branch Holdings. He was the chair of the Credit Suisse
Asia-Pacific investment banking division and Chairman and CEO of
DLJ Asia-Pacific. While at DLJ, he was a group head of global FIG
and the Midwest investment banking region.
- Steven Kent is the president of River
Branch Holdings and a member of its board of directors and
investment committee. He joined River Branch Holdings from Keefe,
Bruyette & Woods, Inc. where he was a managing director and
head of the Chicago office. Prior to KBW, he was a managing
director and head of the financial institutions group at Robert W.
Baird & Co.
Commenting on the transaction, Chad Abraham, global co-head of
Piper Jaffray investment banking and capital markets said, “Joining
forces with River Branch positions us to grow more quickly by
expanding our breadth and depth in the sector with a team that
complements our recent hires. David Olson and Steve Kent will help
add to the senior leadership of our FIG practice and bring very
deep client relationships.”
“We are excited about what this combination achieves for our
clients and our employees,” said David Olson, chairman and CEO of
River Branch Holdings. “Piper Jaffray is a firm that shares our
partnership-driven culture, and its capital markets capabilities
will bolster our advisory product offerings. In addition, their
commitment to the middle market and their sustained investment in
the FIG space are highly attractive to us.”
The transaction is subject to regulatory approval and customary
closing conditions and expected to close in the third quarter of
2015. Terms of the transaction are undisclosed.
About River Branch Holdings, LLCBased in Chicago, River
Branch Holdings, LLC is an international investment banking
boutique focused on a range of financial services clients including
commercial banks and thrifts, financial technology, specialty
finance and broker/dealers. The firm provides merger and
acquisition advisory, corporate finance advisory, recapitalization,
restructuring and private placement services to middle-market
clients and private equity firms.
About Piper JaffrayPiper Jaffray Companies (NYSE: PJC) is
an investment bank and asset management firm headquartered in
Minneapolis with offices across the U.S. and in London, Hong Kong*
and Zurich. Securities brokerage and investment banking services
are offered in the United States through Piper Jaffray & Co.,
member NYSE and SIPC, and in Europe through Piper Jaffray Ltd.,
authorized and regulated by the Financial Conduct Authority. 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.
* License pending
Follow Piper Jaffray: LinkedIn | Facebook | Twitter
© 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/20150713005197/en/
Piper Jaffray CompaniesPamela Steensland, 612
303-8185pamela.k.steensland@pjc.com
Piper Jaffray Companies (NYSE:PJC)
Historical Stock Chart
From Jul 2024 to Aug 2024
Piper Jaffray Companies (NYSE:PJC)
Historical Stock Chart
From Aug 2023 to Aug 2024