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NEW YORK--(BUSINESS WIRE)--Dec. 3, 2008--Piper Jaffray has strengthened its presence in convertibles and equity-linked securities with the addition of Daniel Welch as managing director and head of convertible distribution. Welch brings more than 15 years of capital markets experience to Piper Jaffray, and will be based out of the firm's New York office.

Welch joins Piper Jaffray from J.P. Morgan and previously Bear, Stearns & Co., where he was a senior managing director focused on institutional convertible and credit sales, and franchise development with top-tier accounts. Prior to beginning his career at Bear Stearns as a proprietary and customer trading analyst, Welch served aboard the USS Pargo (SSN-650) as part of the United States Naval Nuclear Power Program.

"Dan is an experienced capital markets professional with a very successful track record of production, built on providing exceptional client service and superior relationship management," said Jim Fehrenbach, head of equity sales and trading at Piper Jaffray. "Our clients and convertibles effort will benefit from his addition to our outstanding team."

"In this challenging economic climate, clients are increasingly in need of a stable firm committed to putting its clients' interest first," said Welch. "This is why I joined Piper Jaffray, as the firm provides the platform and team that consistently earns clients' trust by delivering expert guidance."

Welch earned a Bachelor of Science degree from The Wharton School of the University of Pennsylvania, and has graduate-level training in nuclear engineering from the U.S. Naval Nuclear Power Training Command.

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. (www.piperjaffray.com)

Since 1895. Member SIPC and FINRA.

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