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PALO ALTO, Calif., May 22 /PRNewswire-FirstCall/ -- Piper Jaffray announces the hire of David Castagna as a managing director and co-head of the Technology Investment Banking team. Castagna has more than 13 years of experience working in technology investment banking, having originated and executed transactions across multiple technology sectors including: communications hardware and services, software and semiconductors. He will work in the firm's Palo Alto office with Chris McCabe, co-head of Technology Investment Banking and report to Jon Salveson, head of Investment Banking.

Castagna will join the firm in August following a garden leave. He is currently a managing director and head of the technology, media and telecom investment banking group at Cowen and Company. Under his leadership at Cowen, the technology investment banking team has experienced substantial growth in the technology investment banking business. Castagna has also previously served as a partner and head of technology investment banking at Thomas Weisel Partners.

"David has advised growth technology companies for more than a decade and his experience and knowledge will be a tremendous asset to our team," said Salveson. "We look forward to his leadership and extensive knowledge of the technology industry in providing service and guidance for our clients. Additionally, this new role will provide additional strength to our growing technology team."

Castagna has a master's degree from Stanford University and a bachelor's degree, graduating summa cum laude from Brigham Young University.

About Piper Jaffray

Piper Jaffray Companies 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 25 offices across the United States and international locations in London and Shanghai. Piper Jaffray & Co. is the firm's principal operating subsidiary. (NYSE: PJC; http://www.piperjaffray.com )

Since 1895. Member SIPC and NYSE.

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CONTACT: Susan Beatty, Public Relations and Communications of Piper Jaffray, +1-612-303-5680