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NEW YORK--(BUSINESS WIRE)--Mar. 23, 2009-- Piper Jaffray & Co. strengthened its U.S. investment banking team with the addition of Erik Carneal as managing director within the firm’s business services group. Carneal, who brings almost 10 years of experience, will work out of the firm's New York office.

Carneal joins Piper Jaffray from Bank of America where he was a managing director, responsible for new business development and transaction execution for all forms of strategic advisory and debt and equity capital raising. He previously served as the director of education at Sylvan Learning Systems, and was a teacher at The Potomac School in McLean, Va.

"We are very pleased to welcome Erik Carneal to Piper Jaffray. He brings a blend of investment banking experience combined with a background in education giving him a unique perspective into the advisory and capital raising needs of education clients,” said Murray Huneke, co-head of investment banking at Piper Jaffray. "We have a strong history and commitment to education and business services, and Erik’s addition broadens and deepens our expertise.”

"Business services and education companies are seeing increased demand for their services, and Piper Jaffray offers a global platform for these growth companies to best capitalize themselves in an otherwise challenging fundraising environment,” Carneal said.

Carneal earned a bachelor’s degree in psychology from Princeton University, a master of education degree from Harvard University and a master of business administration from the J.L. Kellogg Graduate School of Management at Northwestern University.

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. Piper Jaffray headquarters are located in Minneapolis, Minnesota, with offices across the U.S. and 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.

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

Source: Piper Jaffray & Co.

Piper Jaffray & Co.
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Rob Litt, 612-303-8266