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MINNEAPOLIS, Nov. 16 /PRNewswire-FirstCall/ -- Piper Jaffray is pleased to announce the hiring of Ben May as head of High-Yield and Structured Products in the firm's Corporate and Institutional Services (CIS) business. May will oversee high-yield and structured products sales and trading as well as debt capital markets. He will report to Tom Schnettler, head of CIS and will serve on the CIS operating committee.

May has more than 24 years of experience in fixed income and the credit products area. He built his career at Wachovia Corp., in North Carolina, where he held several positions, including head of high-yield sales, trading and research; head of fixed-income sales, trading and research; and, most recently, head of credit products. May is credited with building a full service high-yield sales, trading and research department at Wachovia. May was also head of high-yield and high-grade bond trading at Dillon Reed & Company in New York and started his career as a corporate bond trader at Drexel Burnham Lambert, also in New York.

"We are so pleased to have Ben join us in this new position and head up high-yield and structured products at Piper Jaffray," said Schnettler. "Ben has outstanding experience and knowledge in this industry and we look forward to his leadership as we look to grow this platform and offer another key financing capability for our clients."

May has a bachelor's degree from Yale University in history and a master's degree in finance from New York University.

Piper Jaffray & Co. is the chief operating subsidiary of Piper Jaffray Companies (NYSE: PJC), 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. Piper Jaffray & Co. has served corporations, government and non-profit entities, institutional investors and the financial advisory needs of private individuals since 1895. With headquarters in Minneapolis, Piper Jaffray has approximately 3,000 employees in 104 offices in 23 states across the country and in London. For more information about Piper Jaffray, visit us online at .

Since 1895. Member SIPC and NYSE.

SOURCE  Piper Jaffray & Co.
    -0-                             11/16/2005
    /CONTACT: Susan Beatty, Media Relations of Piper Jaffray & Co.,
+1-612-303-5680, /
    /Web site:

CO:  Piper Jaffray & Co.
ST:  Minnesota

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