Investment Team

Piper Jaffray Merchant Banking


PJMB is a cohesive team of professionals with extensive financial and operating experience that spans multiple decades and market cycles.


Stuart C. Harvey, Jr.

Managing Director,
Merchant Banking

E-mail  |  Tel: +1 612 303-6482

Stuart Harvey

Stuart Harvey is a managing director in the merchant banking group at Piper Jaffray and member of the general partner. Harvey was previously an investment banker at Piper Jaffray from 1993–2003, and rejoined the firm in 2015.

From 2003–2010, Harvey served as an executive officer, including chief executive officer and president, for Elavon Global Acquiring Solutions, Inc., a subsidiary of U.S. Bancorp. He joined Ceridian Corporation in 2010, where he served as chairman, chief executive officer and president. During his tenure, he transformed company strategy, vision and operations on a national and international level, leading to sharp increases in sales and operating efficiency. He also led the sale of Comdata, Inc., a Ceridian company, to FleetCor Technologies, Inc. for $3.45 billion.

Harvey holds a bachelor’s degree from Saint John’s University, a Juris doctorate from The George Washington University Law School and a Master of Business Administration degree from the Kellogg School of Management at Northwestern University. He also serves on the board of directors for Trustwave Holdings, Inc., Brainyak, Inc. (d/b/a GutCheck) and the board of trustees at Saint John’s University.


Robert P. Rinek

Managing Director, Merchant Banking
Co-CEO PJC Capital Partners LLC

E-mail  |  Tel: +1 612 303-6306

Robert Rinek

Bob Rinek is the co-CEO of PJC Capital Partners LLC and a managing director in the merchant banking group, as well as a member of the general partner. Rinek has worked in the investment banking and private equity industry for more than 35 years. Prior to Rinek’s current role, he established the firm’s financial institutions group (“FIG”) in the late 1980s and served as global group head of FIG until December 2007. He is also a former board member of Piper Jaffray Ventures. Rinek joined Piper Jaffray in 1982 and was previously with the Northern Trust Company and ITT Financial Corporation.

Currently, Rinek is either on the board of, or has board observation responsibility for, the following portfolio companies: Living Proof, PerfectServe, Harvest Power, LogRhythm and Lattice Engines.

Rinek is also the board chair of Twin Cities Public Television. Over the course of his career, he has served on the boards of many for-profit and non-profit organizations, including the Science Museum of Minnesota, The Equipment Leasing & Finance Foundation and Multi Service Corporation. Rinek is also actively involved in the investment community. He is a founding member of Twin Cities Angels, which makes angel investments in start-up companies in the Minneapolis/St. Paul area. He has served on the board of Marshall Financial Ventures, an equity fund focused on investing in late-stage financial service companies.

Rinek graduated from Denison University and earned a Master of Business Administration degree from The University of Chicago Booth School of Business. He also holds the Certified Management Accountant (CMA®) professional designation.


Thomas P. Schnettler

Vice Chairman, Piper Jaffray Companies
Managing Director, Piper Jaffray Merchant Banking
Co-CEO PJC Capital Partners LLC

Thomas Schnettler

Tom Schnettler is vice chairman of Piper Jaffray Companies, and managing director in the merchant banking group. In his merchant banking role, Schnettler serves as co-CEO of PJC Capital Partners LLC, the registered investment adviser to the Piper Jaffray merchant banking private funds. He initiated the merchant banking business at Piper Jaffray in 2008 and has overseen the division since that time. Schnettler also served as president and chief operating officer of Piper Jaffray from 2008 to 2011, and as chief financial officer between 2006 and 2008. Prior to that, Schnettler served as head of the Piper Jaffray corporate and institutional services business beginning in 2002, and as head/co-head of investment banking beginning in 2000. From 1989 to 2000, he co-founded and led the healthcare investment banking group. Schnettler joined the Piper Jaffray investment banking group in 1986.

Schnettler has served on the board of, or held board observation responsibility for the following portfolio companies: Torax Medical, Vitals, OrthoAccel and Sport Ngin. Over the course of his career he has served many not-for-profit organizations including Saint John’s University, The Lillehei Heart Institute at the University of Minnesota, Catholic Charities of St. Paul and Minneapolis and the American Heart Association.

Schnettler graduated from Saint John’s University in Collegeville, Minnesota and holds a Juris doctorate from Harvard Law School.


David P. Crosby

Managing Director,
Merchant Banking

E-mail  |  Tel: +1 612 303-6300

David Crosby

David Crosby is a managing director in the merchant banking group at Piper Jaffray and member of the general partner. He has extensive transaction experience and has been an investment banker at Piper Jaffray since 1971.

Crosby directed the activities of the investment banking group for 19 years, and he has previously served on the management committee and board of directors for Piper Jaffray Companies.

Crosby’s principal avocation since college has been investing in marketable equity securities. For the last 20 years, he has guided investments for his extended family. This role has been a natural extension of the experience he has gained as an investment banker.

Crosby has also been involved in many not-for-profit organizations where he has and continues to be involved on many investment and finance committees. These organizations have included: the Piper Jaffray Retirement Committee, The McKnight Foundation, The Bush Foundation, University of Minnesota Investment Advisory Committee, Carolyn Foundation, Dunwoody College of Technology, Lakewood Cemetery, Steven Square Foundation, The Minneapolis Foundation, The Blake School and Grinnell College.

Crosby graduated from Yale University and received a Master of Business Administration degree from Stanford University Graduate School of Business Administration.