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MINNEAPOLIS, Feb 10, 2011 (BUSINESS WIRE) --

Piper Jaffray (NYSE: PJC) announced today that it has opened a public finance and a fixed income distribution office in Pennsylvania with 12 seasoned professionals. A six-member public finance investment banking team, based in Pittsburgh, will be led by Chris Shelby, managing director. A six-member middle market sales and trading team, based in Philadelphia, will be led by Jim Dotzman, managing director.

"Expanding our franchise beyond primarily the western half of the United States to a national footprint is a key strategic objective. We entered the northeast in 2009 and the southeast in 2010," said Frank Fairman, head of public finance. "Now, we're pleased to enter Pennsylvania, which is one of the top four states in terms of par value for middle market issuers. Chris and his team have built strong client relationships in the western Pennsylvania market, working primarily with local government issuers. We look forward to growing our business from this solid platform."

Brad Winges, head of fixed income services further commented, "These distribution resources will support the growth strategy for our public finance and fixed income business. We are pleased to welcome this new team who will provide a critical mass to expand the reach of Piper Jaffray in this key market."

Shelby, previously a principal of H-T Capital, has 30 years of public finance experience in Pennsylvania. Joining Shelby from H-T Capital are Randy Frederick, senior vice president; Tom Kinney, senior vice president; Joe Wiesner, senior vice president; Chip McCarthy, vice president; and Michael Smith, vice president.

Prior to joining Piper Jaffray, Dotzman was with JVB Financial Group. Joining Dotzman are Edmund Deeter, principal; Janet Handleman, principal; Tyson Perry, principal; Walter Sommers, principal; and Carol Torelli, assistant vice president.

With these additions, Piper Jaffray has 107 public finance professionals and 55 sales professionals nationwide.

About Piper Jaffray
Piper Jaffray is a leading middle market investment bank and asset management firm serving clients in the U.S. and internationally. Our proven advisory teams combine deep product and sector expertise with ready access to global capital. Founded in 1895, the firm is headquartered in Minneapolis with offices across the U.S. and in London and Hong Kong. www.piperjaffray.com

Since 1895. Member SIPC and NYSE
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SOURCE: Piper Jaffray Companies

Piper Jaffray
Jennifer A. Olson-Goude
Investor and Media Relations
612-303-6277