Piper Jaffray Continues to Grow Its Fixed Income Expertise with Addition of Structured Mortgage Products Group

09/26/2008 | 11:54:00 AM


Piper Jaffray & Co. continues to grow its fixed income expertise with the addition of an industry-leading team of five sales and trading professionals that form its structured mortgage products group. The team will focus its efforts on specific areas of the asset back and mortgage markets.

"There are great opportunities in the distressed market that a highly skilled team can leverage, and this is a market we will now serve with an industry-leading and experienced team," said Ben May, head of fixed income services at Piper Jaffray.

Under the leadership of Cliff Corrall as managing director, the team will operate out of a newly opened office in Marina Del Ray, Calif. Prior to joining Piper Jaffray, Corrall was executive vice president at Countrywide Securities where he led one of the industries' top performing teams since 2001. Prior to Countrywide, Corrall was senior vice president at Chase Securities.

"Piper Jaffray has a strong fixed income platform and a reputation for superior client service that will benefit our clients and enhance the expertise we provide them," said Corrall.

In addition to Corrall, the following professionals also join the structured mortgage products group: James Griffin as a senior ABS/MBS trader; Brian Stack as a senior ABS/MBS structuring expert; and James Tennille as a senior top performing salesperson. They join Piper Jaffray as managing directors and previously worked at Countrywide Securities, as did Lisa Yawger who joins the firm as registered sales assistant. Combined, they bring more than 70 years of sales and trading expertise in the ABS/MBS marketplace.

This team will work closely with Luke Jackson who as part of the fixed income analytics team is building an analytical platform to help clients identify opportunities in the structured products area. Jackson joined the firm a few months ago, and was previously a senior analyst and trader at GMAC ResCap where he worked on the non-prime trading desk and helped manage risk in the retained credit residual portfolio.

About Piper Jaffray

Piper Jaffray Companies (NYSE: PJC) is a leading, international middle market investment bank and institutional securities firm, serving the needs of middle market corporations, private equity groups, public entities, nonprofit clients and institutional investors. Founded in 1895, Piper Jaffray provides a comprehensive set of products and services, including equity and debt capital markets products; public finance services; mergers and acquisitions advisory services; high-yield and structured products; institutional equity and fixed-income sales and trading; and equity and high-yield research. With headquarters in Minneapolis, Piper Jaffray has 28 offices across the United States and international locations in London, Hong Kong, and Shanghai. Piper Jaffray & Co. is the firm's principal operating subsidiary. (http://www.piperjaffray.com)

Since 1895. Member SIPC and FINRA.

(C) 2008 Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, Minnesota 55402-7020

Source: Piper Jaffray