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Firm Expands Research Platform to Include Insurance Companies

CHICAGO, April 27 /PRNewswire-FirstCall/ -- Piper Jaffray & Co. is pleased to announce that it has expanded its financial research platform with the hire of Michael Grasher as a senior research analyst covering specialty finance and insurance companies. He will be based out of the firm's Chicago office.

"Expanding our financial institutions research coverage to include the insurance sector and deepening our coverage of the specialty finance sector enables to us to continue to meet the needs of our clients by providing exceptional research product," said Mike Ott, head of Equity Research at Piper Jaffray. "We are thrilled that Michael has joined the firm to lead this effort."

Grasher joins Piper Jaffray from ABN AMRO Inc. - LaSalle Bank, where he most recently was a senior research analyst covering the financial services sector on the buy-side. Prior to that, he was a senior research analyst for the Financial Services group with the Boston Consulting Group. Grasher earned his master's of business administration degree from the University of Chicago, with a concentration in accounting and finance, and holds a bachelor of science degree in agricultural economics from the University of Illinois, Champaign-Urbana.

Headquartered in Minneapolis, Piper Jaffray Companies (NYSE: PJC) is a focused securities firm dedicated to delivering superior financial advice, investment products and transaction execution within selected sectors of the financial services marketplace. The company operates through two primary revenue-generating segments -- Capital Markets and Private Client Services. Investment Research, an independent group reporting to the CEO, supports clients of both segments. The firm serves corporations, government and non- profit entities, and institutional investors on a national basis and serves the financial advisory needs of private individuals predominantly across the western half of the United States. The firm has approximately 3,000 employees in 111 offices in 23 states across the country and in London, England. For more information about Piper Jaffray, visit us online at .

Since 1895. Member SIPC and NYSE.

SOURCE Piper Jaffray & Co.
CONTACT: Dana H. Wade, Public Affairs and Media Relations, of Piper Jaffray & Co., +1-415-277-1556