Piper Jaffray News Releases


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LONDON – 31 March 2007 - Piper Jaffray Ltd., a leading international middle market investment bank and institutional securities firm based in London, today announces the appointment of Michael Covington as managing director, head of European clean technology and renewables investment banking.

Covington joins Piper Jaffray Ltd. from Dresdner Kleinwort Wasserstein where he was a Director in the Natural Resources Team after spending eight years in its Mid-Market Investment Banking Team. He was previously Vice President at ABN AMRO and, prior to that, he worked at Hill Samuel Bank / Close Brothers. Michael has over 13 years experience of corporate finance and investment banking.

“We are making significant strides in building our clean technology and renewables investment banking business in Europe,” said David Wilson, CEO of Piper Jaffray Ltd. “Michael brings a wealth of experience and his appointment will further enhance our profile and strengthen our position by complementing our recent addition of Amer Khan who heads up corporate broking for our European clean technology and renewables franchise.”

In the UK and Continental Europe, Piper Jaffray Ltd. has a growing clean technology and renewables practice and was recently appointed nominated adviser and broker to Econergy International PLC (LSE: ECG).

In the US, Piper Jaffray Ltd. has been the leading clean technology equity underwriter since 2006 (Dealogic, 23/11/2007).

Notes to Editors

About Piper Jaffray Companies

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, Hong Kong, Shanghai and Beijing. Piper Jaffray & Co. is the firm's principal operating subsidiary. (NYSE: PJC) (

About Piper Jaffray Ltd.

Piper Jaffray Ltd. is a subsidiary of Piper Jaffray Companies and offers investment banking, equity research and equity sales and trading within Europe to middle market corporations, private equity groups and institutional investors.

Based in London, Piper Jaffray Ltd is the market leader in the UK healthcare and life
sciences sector as adviser and broker to 18 healthcare clients. The firm also has specialist teams in the technology, clean technology and renewables and consumer sectors. Piper Jaffray Ltd. is authorised and regulated by the Financial Services Authority and is a member of the London Stock Exchange.

Piper Jaffray Companies
Rob Litt
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