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NEW YORK, Feb 05, 2009 (BUSINESS WIRE) -- Piper Jaffray & Co. strengthened its U.S. investment banking group with the addition of Larry Zimmerman as a managing director and group head. He will run the industrials and financial sponsor coverage businesses. Zimmerman, who brings almost 20 years of experience, will work out of the firm's New York office.

Zimmerman joins Piper Jaffray from Deutsche Bank Securities where he was a managing director and Global Co-Head of Industrials, leading a team that covered a number of industry sectors including aerospace and defense, automotive, capital goods, homebuilding and building products, packaging and transportation. He previously had been a senior member of Deutsche Bank's financial sponsor and merger & acquisition groups.

"We continue to selectively add high-caliber talent to our platform, and Larry's client relationships, experience, and leadership will be an important component to our investment banking growth," said Murray Huneke, co-head of investment banking at Piper Jaffray. "In addition to his business experience, we also view him as being a strong cultural fit with our commitment of always placing our clients' interests first."

"I am thrilled to be joining such a high quality firm and look forward to leveraging the Piper Jaffray platform to build a market-leading practice around our industrial and financial sponsor clients," Zimmerman said.

Zimmerman earned a bachelor's degree in economics from the Georgetown University and masters of business administration degree from the Wharton School at the University of Pennsylvania.

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.

(C) 2009 Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, Minnesota 55402-7020

SOURCE: Piper Jaffray & Co.

Piper Jaffray
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Rob Litt, 612-303-8266