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MINNEAPOLIS, April 28 /PRNewswire-FirstCall/ -- Piper Jaffray & Co. is pleased to announce that Jon Salveson has been named head of Piper Jaffray's Investment Banking group. He reports to Thomas Schnettler, head of the Piper Jaffray Equities and Investment Banking business. Salveson has been with Piper Jaffray since 1993 and was previously co-head of the firm's Health Care Investment Banking group.

Salveson has been instrumental in building the Piper Jaffray health care practice into one of the largest in the U.S. In the last five years, the firm's Health Care group has participated in 90 initial and secondary public offerings and has raised over $11 billion in capital for clients. During the same period, the group was the advisor on 60 health care mergers and acquisitions (M&A) valued at over $12 billion.

In addition, Salveson, together with Chad Abraham, head of the Piper Jaffray Technology Investment Banking group, opened the Piper Jaffray Menlo Park, Calif., office in 1996, where they played a key role in establishing a large technology and health care presence in the San Francisco Bay Area.

"We are pleased to promote Jon to the position of head of Investment Banking," said Schnettler. "He is an accomplished leader and investment banker both within the firm and marketplace and has continued to guide our health care investment banking practice as a nationally recognized lead-manager platform. We look forward to utilizing his exceptional talents across our broader investment banking platform."

"It is an exciting time to be taking an increased leadership position within the firm as it recently reemerged as an independent company," said Salveson. "I look forward to drawing upon my experiences leading the Health Care Investment Banking group to drive the Piper Jaffray Investment Banking platform and to increase our market share."

Salveson graduated from St. Olaf College in Northfield, with a degree in chemistry and religion and received a master of business administration degree from the J.L. Kellogg Graduate School of Management at Northwestern University in Evanston, Ill.

As a leading provider of financing solutions to growth companies, Piper Jaffray investment banking professionals combine an extensive breadth of expertise with diverse transactional experience to assist clients in achieving goals. The Piper Jaffray investment banking practice focuses on the consumer, financial, health care and technology sectors.

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 .

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