People

State and Local Government

 

Individual: 

Mark Adler

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 310 297-6010

Mark Adler is in his fourth year as a managing director in the Piper Jaffray California public finance group. A 30-year veteran of the industry, Adler has a broad range of experience in local finance, including education, city, redevelopment agency, water district and county finance. On two separate occasions, Institutional Investor featured "Deals of the Year" in which Adler acted as lead banker. This includes the innovative Walt Disney Co. financing for its second theme park in Anaheim, Calif.

Adler came to Piper Jaffray with 12 colleagues from UBS Securities LLC, where he served as the manager of the western region municipal investment banking group. He was formerly with UBS and its predecessor, PaineWebber Inc. for 18 years. During that period, UBS and PaineWebber were consistently among the leading firms in underwriting California municipal issues.

Adler serves on the board of the California Public Securities Association where he was chairman in 2004. He is a frequent speaker at industry forums, including the most recent Bond Buyer’s California Public Finance Conference.

Adler holds a Master of Business Administration degree in finance and public management from the Wharton School of the University of Pennsylvania graduate division and graduated summa cum laude from the Wharton School undergraduate division.

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Dustin Avey

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 913 345-3375

Dustin Avey joined Piper Jaffray in 2007 and is a managing director in the public finance group. He brings 11 years of experience providing financial advisory and investment banking services to governmental entities throughout Kansas and the Midwest. Avey primarily serves cities, counties, school districts and not-for-profit hospitals in planning and implementing their financing objectives. He is well-versed in all aspects of local government and school district finance, and specializes in debt structuring, bond refinancings, bond elections and capital improvement planning.

Prior to joining Piper Jaffray, Avey worked in the public finance group of a regional investment bank.

Avey is involved in the Kansas Association of School Business Officials, Kansas Association of School Boards, Kansas/Missouri Superintendents Forum, League of Kansas Municipalities, Kansas Government Finance Officers Association, Kansas Association of City/County Management and Kansas Hospital Association.

Avey graduated from Iowa State University with a bachelor's degree in finance.

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Jeff Baratta

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 415 616-1617

Jeff Baratta is a managing director in Piper Jaffray public finance investment banking, specializing in education finance. This includes general obligation bonds, bond anticipation notes, certificates of participation, Mello-Roos bonds, qualified school construction bonds, qualified zone academy bonds, adjustable and variable rate financings and short-term cash flow notes. He has extensive experience with more than 250 voter-approved general obligation bond financings for California K-14 school districts.

Baratta served as a board director for the Coalition for Adequate School Housing for eight years and a board officer of Californians for School Facilities.

Baratta holds a bachelor’s degree in business administration and a Master of Business Administration degree from National University in Washington, D.C.

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Michelle Bock

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 314 726-7532

Michelle Bock

Michelle Bock joined Piper Jaffray as a managing director of public finance for the St. Louis office in 2002. She brings more than 20 years of experience in providing financial advisory and investment banking services to issuers in the Midwest. Her primary service area has been governmental borrowers such as municipalities, school districts and state-level issuers in Missouri. She is often involved with her clients on a day-to-day basis assisting in not only financial advisory and bond issuance, but also strategic planning and budgeting. 

Bock is involved in a variety of associations in Missouri, including the Government Finance Officers Association. She is well-versed in all aspects of tax-exempt financing including fixed rate, variable rate and certificates of participation.

Bock graduated with high honors from the University of Illinois with a bachelor’s degree in finance and from Washington University with a Master of Business Administration degree.

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Landon Boehm

Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 314 726-7534

Landon Boehm

Landon Boehm is a vice president in the public finance group at Piper Jaffray. As a registered FINRA representative, he leads municipal bond transactions for Missouri and Indiana issuers. Boehm’s experience focuses on essential purpose financing for local government issuers including property tax-backed bonds, revenue bonds, lease and lease-back financing and temporary funding. With experience transacting negotiated public offerings, serving as financial advisor and facilitating private placement funding, Boehm offers necessary and relevant transactional and strategic insight to his clients.

Boehm received a bachelor’s degree in economics from DePauw University. He previously served on the board of the Parkinson Foundation of the Heartland in Kansas City, Mo. and as a member of the community action planning team for the Kansas City School District.

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Richard Calabro

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 310 297-6013

Richard Calabro is a member of the Piper Jaffray California education finance group. He is a specialist in general obligation bond elections, Mello-Roos bonds, modernization/new construction/technology-related plans and general fund relief strategies.

Prior to joining Piper Jaffray, Calabro provided financing solutions for large public institutions such as the New York State Thruway Authority, Dormitory Authority of the State of New York, New York Local Government Assistance Corporation and Empire State Development Corporation in 1996. He then transitioned into the education finance field and has been working extensively and exclusively with school districts and community college districts in California ever since.

Calabro began his career in the field of public finance as a Northeastern University co-operative education student. He graduated from the honors program with a bachelor’s degree in finance and international business in 1993.

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John Coan

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 212 284-9528

John Coan

John Coan joined Piper Jaffray in 2009 to lead its national transportation group. He has more than 26 years of experience in public finance with expertise in the transportation sector including airports, state departments of transportation and seaport financings. Since 2008, Coan has participated in more than $6 billion of transportation-related issues.

Coan’s senior and co-managed surface transportation experience includes several financings for various state departments of transportation, including leveraging federal grants in the form of Grant Anticipation Revenue Vehicle bonds as well as highway trust funds comprised mainly of gas taxes and vehicle license fees. Other surface transportation experience includes remarketing for the Illinois State Toll Highway Authority. His work for clients includes fixed-rate financings, variable-rate financings, interest rate swaps, restructurings, standalone PFC financings and the development of new master trust indentures.

In addition to his expertise with airport and surface transportation issuers, Coan has experience working with both public port authorities and private companies financing port-related facilities. In the last two years, Coan has participated in more than $300 million in port and harbor financings. Most recently, he completed financings for the Virginia Port Authority (developing VPA’s first commercial paper program and first bond anticipation note) and the Port of New Orleans.

Prior to joining Piper Jaffray, Coan worked for Banc of America Securities LLC.

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Helen Cregger

Senior Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 303 820-5856

Helen Cregger

Helen Cregger is a senior vice president in the public finance investment banking group at Piper Jaffray. She serves state and local governments in planning and marketing their financings. Since joining Piper Jaffray in 2005, Cregger has served as underwriter or financial advisor on bond issues totaling more than $2 billion in par amount. Current Colorado utility clients include Denver Water, Aurora Water, Pueblo Board of Water Works, Arapahoe County Water and Wastewater Authority, and the cities of Westminster, Greeley and Steamboat along with Redmond, Wash.

Prior to joining Piper Jaffray, Cregger was a vice president and senior credit officer with Moody’s Investors Service for nine years. In her work with Moody’s, she served as the lead analyst for issuers in states including New York, Colorado, Arizona and Florida, as well as serving on rating committees for credits nationally. Her credit work included evaluations of revenue bonds for water and sewer issuers along with state revolving loan funds. Prior to joining Moody’s, Cregger worked as an analyst with the U.S. Government Accountability Office where she served in the organization’s international trade, finance and competitiveness group.

Cregger received a bachelor’s degree from Northwestern University and a Master of Public Administration degree from Columbia University.

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Bill Davis

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 602 808-5428

Bill Davis is a managing director and member of the Phoenix public finance group at Piper Jaffray. He has more than 25 years of experience serving counties, cities, universities, hospitals, industrial development authorities, 501(c)(3) corporations and special districts. Davis provides investment banking and consulting services to many municipal government entities throughout Arizona, including the State of Arizona; Maricopa County; the Water Infrastructure Finance Authority of Arizona; the cities of Chandler, Scottsdale and Tucson; and numerous school and special districts.

Davis earned a bachelor's degree in business administration and finance from Northern Arizona University and holds the Chartered Financial Analyst designation from the Association for Investment Management and Research. He is registered with the New York Stock Exchange and Financial Industry Regulatory Authority (FINRA) as a general securities and general municipal principal.

Davis is currently a member of the Phoenix Downtown YMCA, Phoenix Society of Financial Analysts and Arizona Desert Bighorn Sheep Society.

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Jack Dillingham

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 913 345-3371

Jack Dillingham

Jack Dillingham is as a managing director and member of the Piper Jaffray public finance group in Kansas City. Dillingham has 34 years of Missouri public finance experience.

Dillingham began his investment banking career with a regional firm in 1977. After three years, he joined a New York Stock Exchange firm where he held the position of vice president of public finance before joining Zahner and Company in February 1989. He specialized in Missouri credits until the firm merged with Piper Jaffray in 1992..

Dillingham is involved in several civic and professional organizations. He served two terms as president and two terms as treasurer of the Warrensburg Area Economic Development Corporation. He is a member, past officer, past treasurer, past first vice president and a three-year finance chairman of the University of Central Missouri foundation board. Dillingham was named volunteer of the year by the Missouri Economic Development Council for 1999-2000.

Dillingham graduated from Central Missouri State University with a bachelor’s degree.

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Frank Fairman

Managing Director
Head of Public Finance Services

Frank Fairman

Frank Fairman is head of Piper Jaffray public finance services where he oversees the firm’s public finance activities, as well as the municipal derivative business. He has held this position since 1991 and is a member of the firm’s executive leadership team. He joined Piper Jaffray in 1983 as an investment banker in public finance. Prior to that, Fairman started his career as a consultant at Arthur Andersen & Co.

Fairman holds a bachelor’s degree in Economics from Yale University and a Master of Business Administration degree with a concentration in finance from the Wharton School of the University of Pennsylvania.

Fairman is a member of the municipal executive committee of SIFMA. He is also a member of the board of directors for Landmark College in Putney, Vt.; a founding board member of Beyond Walls, a Minnesota-based nonprofit; and a former board member of the Twin Cities chapter of the American Red Cross.

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W. Randall Frederick

Senior Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 412 788-2700

W. Randall Frederick is a senior vice president at Piper Jaffray with expertise in all areas of public finance. He has completed more than $3 billion of financings for school districts and municipal entities in western Pennsylvania. Frederick has cultivated extensive relationships with all governmental agencies pertaining to municipal underwriting. In addition to underwriting municipal bond issues, his duties include constant monitoring, updating and implementation of all federal and Pennsylvania statutes and regulations with specific attention to the Department of Education’s regulations and planning and construction procedures.

Prior to joining Piper Jaffray, Frederick was a founding partner of Shelby, Kern, Frederick & Shelby and an executive vice president of H-T Capital Markets.

Frederick began his banking career in 1981 while pursuing his master’s degree at the University of Pittsburgh. He has a bachelor’s degree in economics from Allegheny College in Meadville, Pa.

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Todd Goffoy

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 913 345-3373

Todd Goffoy

Todd Goffoy is a managing director in the public finance investment banking group at Piper Jaffray. Goffoy has been with Piper Jaffray for 20 years and currently focuses his public finance efforts on Missouri municipalities, school districts, counties and water districts.

Prior to joining the firm, Goffoy served as finance director for a suburban municipality for four years. He has been involved in local government finance since 1986.

Goffoy is very active in his community serving on numerous boards and committees in various leadership roles, including the Belton-Raymore Rotary Club, Cass County Corporation of Economic Development, Belton Educational Foundation and Belton Strategic Planning Committee.

He earned a Master of Business Administration degree from Rockhurst College and a bachelor’s degree in accounting from Southwest Missouri State University.

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Nick Hagen

Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 612 303-6661

Nick Hagen is a vice president in the public finance group at Piper Jaffray. Hagen joined Piper Jaffray in 2004. He has provided investment banking services to a number of governmental, nonprofit and private borrowers. He specializes in structuring and executing tax-exempt and taxable financings for charter schools, tax increment districts, other project finance borrowers, new market tax credit structures, and state and local government issuers.

For the past four years, he has worked primarily with charter schools to finance their facilities. Hagen has worked with borrowers all over the country with a diverse range of clientele.

Hagen holds a bachelor's degree in finance and economics from the University of Minnesota.

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William Henderson

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 913 345-3370

William Henderson

Bill Henderson has 28 years of experience providing financial advisory and underwriting services to governmental and nonprofit entities throughout the Midwest. Henderson is a managing director at Piper Jaffray and oversees the activities of the Kansas City, St. Louis, Milwaukee and Des Moines public finance offices. He serves on the operating committee for the public finance services group of Piper Jaffray.

Henderson has been active in the professional qualifications area of the securities industry. He currently serves on the sales supervisory exam review committee (Series 9/10) of FINRA. Henderson has also completed a three-year term on the continuing education content committee of the NYSE and a six-year term on the professional qualifications committee of the Municipal Securities Rulemaking Board.

Henderson graduated magna cum laude from Drake University in Des Moines, Iowa, with a degree in public administration and from the University of Kansas where he received his master's degree in public administration. He currently serves on the steering committee for the Donald V. Adams Leadership Institute at Drake University.

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Eric Heringer

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 208 344-8561

Eric Heringer

Eric Heringer is a managing director and manager of the Piper Jaffray Boise office. He has specific expertise related to Idaho public finance, including the property tax cycle, the sales tax system, local government debt programs and subsidies, and other government finance-related issues in Idaho. He works with a variety of municipalities on the full range of debt offerings, including general obligation bonds, revenue bonds, bonds issued for urban renewal projects and local improvement districts, lease transactions, and short-term borrowings. Heringer’s clients include many of Idaho’s largest school districts as well as cities, counties and other municipal entities, both large and small, throughout the state.

Heringer has regularly testified on behalf of clients before the Idaho State Legislature and routinely gives presentations on a variety of municipal finance topics at local conferences and workshops. He also writes a significant portion of the Idaho School Bond Manual that is updated and published by the Idaho School Board Association. His presence and accessibility in Boise provides Idaho issuers with a local contact for ongoing service and expertise related to the unique political and economic factors that impact Idaho public finance

Heringer graduated magna cum laude with a bachelor’s degree in business economics from Willamette University. He holds Series 7 and Series 63 securities licenses.

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P. Jonathan Heroux

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 303 820-5848

P. Jonathan Heroux

Jonathan Heroux is a managing director in the public finance services group and leads the Piper Jaffray Denver office. He works with municipal issuers in Colorado, Idaho and Montana. Since joining Piper Jaffray in 1993 as an associate, he has served as either sole or senior underwriter on more than $3 billion of municipal bonds and as a financial advisor on more than $3.5 billion of municipal bonds in Colorado.

Prior to joining Piper Jaffray, Heroux was an analyst at Shearson Lehman Hutton in New York. Heroux has a broad range of experience with various types of financings, including fixed and variable rate, certificates of participation and derivative-type transactions. He also served as a former president of the Colorado Municipal Bond Dealers Association.

Heroux earned a bachelor’s degree in business administration from St. Michael’s College, Vermont and a Master of Business Administration degree in corporate finance and international economics from the University of Rhode Island.

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Jay Hromatka

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 612 303-6608

Jay Hromatka is a managing director in the public finance group at Piper Jaffray. He has more than 25 years of experience as a public finance professional providing investment banking services to governmental entities throughout the country. For the past 12 years, he worked extensively as a senior banker specializing in structuring and underwriting charter school transactions.

Throughout his career, Hromatka has acted as lead banker on financings across the country and has developed a significant base of experience and relationships with diverse clients ranging from charter schools to state and local governments, school districts and not-for-profit agencies.

Hromatka holds a bachelor's degree in finance from the University of Minnesota. He is active in many civic and not-for-profit organizations.

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Tim Kelley

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 210 733-0895

Tim Kelley joined the Piper Jaffray public finance team as managing director of the San Antonio office in 2010 with a focus on providing investment banking services to issuers throughout the state of Texas. Kelley has more than 23 years of experience providing investment banking services to a variety of clients throughout Texas, including state authorities, cities, counties, independent school districts, higher education authorities and community college districts.

During his career, Kelley has created complex financing programs for issuers throughout the state. He has a strong understanding of the credit requirements in the municipal marketplace and an expertise in sophisticated debt and cash-flow modeling. Kelley has developed long-term financing plans for many large issuers using a variety of techniques including fixed-rate bonds, variable-rate instruments and commercial paper programs. He has applied his considerable experience to ad valorem tax supported debt financings, community college districts, utility system financings, airport financings, as well as sales tax and hotel occupancy tax credits.

Kelley holds a bachelor’s degree in business administration and finance from the University of Texas at Austin.

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David Kiley

Senior Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 212 284-9437

David Kiley

Based in New York, David Kiley is a senior vice president in the Piper Jaffray public finance group.

Prior to joining Piper Jaffray, Kiley worked at Bear Stearns & Co. and JPMorgan Chase & Co. where he served on the banking team for a number of transportation issuers including the Pennsylvania Turnpike, New Jersey Turnpike Authority, E-470 Public Highway Authority, Massachusetts Bay Transportation Authority, New York State Thruway Authority and the New York Metropolitan Transportation Authority.  Also, Kiley worked in the office of the secretary at the Department of Transportation.

Kiley graduated from Trinity College in Hartford, Conn. with a bachelor’s degree in political science and from Columbia Business School with a Master of Business Administration degree in finance and accounting.

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Jin Kim

Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 310 297-6020

Jin Kim is a member of the Piper Jaffray public finance group. Kim advises on the creation and implementation of general obligation bond programs for public agencies. He oversees the all aspects of the bond program process. Kim manages the debt profiles of numerous public agencies, monitoring for economic and/or legal restructuring opportunities. In addition, Kim advises public agencies on financing capital facilities and solving budgetary cash-flow issues.

Kim’s capital markets experience includes more than $7 billion of both public offerings and private placements of short-term notes, long-term bonds and certificates. His experience also includes creation of multi-year capital improvement programs, implementation of real estate development projects and alternative financings.

Prior to joining Piper Jaffray in 2008, Kim was part of a public finance group at another global investment bank. Before that, Kim served as an advisor and consultant to many public agencies in California.

Kim graduated from the University of California, Irvine with a bachelor’s degree in economics.

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Thomas Kinney

Senior Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 412 788-2700

Thomas Kinney is a senior vice president in the Piper Jaffray public finance group. He has 35 years of experience in investment banking—primarily in the origination, structuring and underwriting of Pennsylvania financings. Most recently, he was a partner at H-T Capital Markets and Shelby, Kern, Frederick & Shelby.

Prior to that, he was a managing director at Scheetz-Smith, a division of Mellon Financial Markets, Inc. In that capacity, he was responsible for coordinating all aspects of public finance, including initial issuer contact, pricing, syndication and oversight of bond issues. Before entering the investment banking business, Kinney taught state and local government finance at Ursinus College.

Kinney has authored several articles for national publications. He is an active member of the Pennsylvania School Boards Association, Pennsylvania Municipal Authorities Association, Pittsburgh Stock and Bond Association and the Security Traders Association, as well as several not-for-profit and civic organizations. Kinney has served eight years on the Governor’s Advisory Council on Hunting, Fishing and Conservation. He is a member of the Pi Gamma Mu national honors fraternity.

Kinney graduated with a bachelor’s degree in political science from The Pennsylvania State University and a master’s degree from Miami University of Ohio.

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David Klinges

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 212-284-9526

David Klinges

David Klinges recently joined Piper Jaffray following a 25-year career at Lehman Brothers Holdings Inc. and Bear Stearns Companies Inc.

While at Bear Stearns, Klinges led the firm’s public private ventures group, which focused on the private delivery of public infrastructure projects. In this capacity, he led the advisory and banking effort that resulted in successful initial capital markets financing of numerous transportation projects, including the E-470 toll road, the Northwest Parkway toll road and the Southern Connector toll road. He served as lead financial advisor to Dulles Transit Partners LLC and developed the finance plan currently implemented by the Metropolitan Washington Airports Authority. He also participated in Public-Private Transportation Act development of the Chesapeake Expressway and the Capital Beltway Express Lanes, and he leads the surface transportation effort within Piper Jaffray, working with clients that include the Pennsylvania Turnpike, the Metropolitan Transportation Authority and the Arizona Department of Transportation.

Klinges has also served as lead banker on a number of energy project financings including a private placement for Visy Paper, refinancing of solid waste cogeneration facilities in Fairfax County and York, Pa., and acquisition financing for a gas-fired generation facility. His project finance background also includes a number of federal real estate projects.

Klinges has a bachelor’s degree in government from Dartmouth College and a Master of Business Administration degree in finance from the Tuck School of Business Administration. He holds the Series 7 and Series 63 licenses.

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Katie Koster

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 949 494-6110

Katie Koster

Katie Koster is a managing director and member of the local government and large issuer practices within the public finance group at Piper Jaffray. She primarily serves state and local governments, school districts and special districts. Having structured and sold more than $4 billion of financings for a variety of credits and municipal issuers, her expertise lies in land secured, tax increment and general city financings.

She began her career, which includes more than 17 years of experience in municipal and project finance, in the public sector serving as administrative manager for Riverside County, California’s Land Secured Finance Division. She was also financial advisor for a leading Southern California financing advisory firm and investment banker at UBS Securities LLC and Southwest Securities Company Ltd.

Koster is active in a variety of industry associations including the California Society of Municipal Finance Officers, California Redevelopment Association, Urban Land Institute and Women in Public Finance.

Koster graduated with a bachelor’s degree from Pepperdine University. She is a registered representative and holds her Series 7, 24, 53, and 63 licenses. Koster is currently also a member of 44 Women for Children and Habitat for Humanity International.

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Tom LaFleur

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 312 267-5022

Tom LaFleur joined Piper Jaffray in 1999 when the firm purchased John Nuveen & Co.’s public finance investment banking division. LaFleur began his investment banking career at John Nuveen in 1993, structuring single family and multifamily tax-exempt and taxable bond issues for state and local housing authorities nationwide. In 2001, he became one of the founding members of the team that created the Piper Jaffray tender option bond program. In 2008, LaFleur joined the firm’s municipal derivatives group.

LaFleur holds a bachelor’s degree in computer engineering from the University of Illinois at Urbana-Champaign, a master’s degree in computer science engineering from Stanford University and a master’s degree in management from Northwestern University’s Kellogg School of Management.

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Brad Langner

Senior Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 303 405-0860

Brad Langner joined Piper Jaffray in 2011 as a senior vice president in the public finance investment banking group in Denver, Colorado. He is primarily focused on large issuer and hospitality clients throughout the country. Over his career, Langner has structured and served as senior managing underwriter on more than $8 billion. He has extensive experience with a wide range of financing products ranging from fixed-rate debt, variable-rate debt, interest rate hedges, reinvestment products and tender option bond programs. Langner also has expertise analyzing and structuring sophisticated debt portfolios and cash-flow modeling.

Prior to joining Piper Jaffray in 2011, Langner spent ten years at JPMorgan and RBC Capital Markets. He graduated with honors with a bachelor’s degree in accounting from the University of Kansas and received a master’s degree from the University of Kansas. Langner holds Series 7 and 63 licenses.

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Dale Lehman

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 713 655-8637

Dale Lehman

Dale Lehman manages the southwest public finance offices (Houston, Dallas and San Antonio) for Piper Jaffray and is responsible for the firm’s municipal underwriting assignments for the region. Lehman has 24 years of investment banking experience. Since 1992, Lehman has served as lead banker on 207 transactions totaling more than $34 billion including general obligation bonds, revenue bonds, certificates of obligation, certificates of participation and tax anticipation notes. Lehman has experience in structuring successful financings using traditional taxable (including BABs) and tax-exempt, fixed and variable rate products, as well as CABs, pooled loan structures, and other designated products to lower borrowing costs and maximize bond proceeds.

Prior to joining Piper Jaffray in 1999, Lehman spent more than 14 years managing public finance businesses in the Southwest for John Nuveen, Alex Brown, First City-Texas, and Smith Barney. During this time, his focus has been on large local and state government clients, infrastructure, transportation, higher education, healthcare, housing, pooled loan programs and project finance.

Lehman has a bachelor’s degree from Youngstown State University and attended Utah State University and University of California, Los Angeles. He holds an NASD License Series 52, 53, and 63.

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Ivory Li

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 415 616-1614

Ivory Li entered into the education finance field in 2000 and since then, has been working exclusively with community college districts and school districts in California ever since. She is a specialist in general obligation bond elections, lease financings, Mello-Roos bonds and tax and revenue anticipation notes. Li has managed and completed more than 300 bond issues for community college districts and school districts totaling more than $8 billion.

Prior to joining Piper Jaffray in 2008, Li worked at Citigroup Global Markets Inc., and UBS Investment Bank.

Li graduated with honors from the University of Chicago and received a bachelor’s degree in economics.

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Michael Lund

Senior Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 303 820-5872

Michael Lund

Michael Lund joined the Piper Jaffray public finance team as an analyst in early 2002 and worked with a quantitative group providing numerical support to senior bankers. Since joining Piper Jaffray, Lund worked in several roles supporting public finance transactions and is now the senior investment banker on most of his transactions. Lund has worked on a variety of transactions including both fixed and variable rate bonds. In his tenure with the public finance team, Lund has worked on more than 200 transactions totaling more than $1 billion in par on bonds issued and $1.4 billion in par on notes issued.

Lund has served as financial advisor or underwriter to a wide range of the firm’s accounts including E-470 Public Highway Authority, the city of Boulder and the state of Montana. Lund’s experience includes numerous credit structures from revenue bonds supported by toll revenues to pooled revolving fund transactions. Lund also has extensive experience working with real estate backed transactions in Colorado, and this experience includes start-up projects supported by tax increment financing as well as securing credit ratings for established projects.

Lund received a bachelor’s degree in business administration from Colorado State University, cum laude, and a Master of Business Administration degree from the University of Colorado Boulder.

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Jere McGuffee

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 901 869-5798

Jere McGuffee has more than 20 years of experience in the business. He is a specialist in devising creative financing techniques to meet the needs of municipal clients. These techniques include escrow optimization and restructuring, monetization of debt service funds and forward issuance of bonds, purchase in lieu of redemptions and tender of outstanding bonds and interest rate swaps. McGuffee has vast experience in structured finance and working with issuers to restructure large portions of their debt. He has taken an active interest in focusing on the potential needs of the Tennessee issuers his entire career.

Prior to opening a Memphis, Tenn. office for Piper Jaffray, McGuffee spent his career both in the Southeast as well as on Wall Street working with regional, national and international firms such as Ernst & Young LLP, Morgan Keegan & Co., Bear Stearns & Co. and Deutsche Bank.

He has a bachelor’s degree in business administration in finance from Memphis State University and a Master of Business Administration degree from Emory University. McGuffee holds Series 7, 53 and 63 licenses.

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Dennis McGuire

Managing Director
Sacramento Public Finance Investment Banking

E-mail  |  Tel: +1 916 449-3922

Dennis McGuire

Dennis McGuire is a managing director in the Sacramento, Calif. office and member of the public finance group at Piper Jaffray. McGuire joined the Piper Jaffray local government group in early 2001. Since then, he has successfully completed several financings for a number of public agencies in California and Nevada, totaling more than $2 billion across a wide variety of projects and credits.

Prior to that time, McGuire worked for the Piper Jaffray municipal trading and underwriting group. He has worked on a broad variety of both long- and short-term financings including wastewater, water, general obligation bonds, general fund leases (COPs and lease revenue), redevelopment tax allocation bonds, assessment and reassessment city financings, Mello-Roos special tax bonds and solid waste.

McGuire received a bachelor’s degree and a Master in Business Administration degree from the University of California, Davis. McGuire holds the Series 7, 53 and 63 securities licenses.

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Sam Miller

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 267 615 9099

Sam Miller joined Piper Jaffray in June 2012 as a managing director and has more than 20 years of experience in municipal capital markets. His transaction experience includes a wide range of financing vehicles including general obligation, certificates of participation, industrial development bonds, revenue bonds and taxable general obligation bonds. Miller has served various issuers such as the city of Wilmington, Wilmington Parking Authority, the Delaware River and Bay Authority, New Castle County, city of Lewes, city of Dover, Dauphin County, and York County.

Prior to joining Piper Jaffray, he was a managing director at Jefferies & Co. Miller received his bachelor’s degree from the University of Delaware and his Juris doctorate from the Widener University School of Law.

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Dennis Mitchell

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 913 345-3372

Dennis Mitchell

Dennis Mitchell is a managing director in the public finance investment banking group of Piper Jaffray. Mitchell has more than 34 years of experience in providing financial advisory and underwriting services to issuers of tax-exempt municipal bonds.

Prior to his public finance career, Mitchell served for 11 years as a city manager in Kansas and as a municipal league officer. He has significant experience working with rating agencies, municipal bond insurance companies and letter of credit providers.

Mitchell received a master’s degree in public administration from the University of Kansas and a bachelor's degree from Washburn University.

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Whit Moloney

Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 615 522-5010

Whit Moloney is a vice president in the public finance investment banking group at Piper Jaffray. Moloney has experience providing financial services to municipalities in Tennessee and Kentucky, and has a broad knowledge of tax increment financings. Additionally, he has experience working with airports, colleges and universities, and 501(c)3 borrowers. He joined Piper Jaffray in 2011 and opened an office in Nashville, Tenn. after working at Morgan Keegan & Co. in a similar capacity.

Moloney graduated from Rhodes College with a bachelor’s degree in business administration and earned a Master of Business Administration degree from the Williams College of Business at Xavier University.

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Timothy Oswald

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 515 247-2358

Timothy Oswald joined Piper Jaffray in 1989 and is a managing director in the public finance group in Des Moines, Iowa. He is responsible for general governmental and quasi-governmental issues for Iowa municipalities and not-for-profit corporations.

Oswald has assisted with a variety of unique transactions, including issues for not-for-profit corporations such as the Boys and Girls Home in Sioux City, Iowa and Fairbanks, Alaska; Hospice of Central Iowa; Oaknoll, the Salisbury House Foundation; and Bremwood Lutheran Children's Home in Waverly, Iowa. He was involved in the economic development for the Iowa Agricultural Finance Corporation equity units and two start-up ethanol plants, one in Kossuth County, Iowa and one in Monroe, Wis. Oswald has assisted the financing of three municipally owned hotel/conference facilities in Iowa. In addition, Oswald has experience with traditional municipal debt for cities, counties and schools.

Under Oswald’s leadership, the Des Moines office typically ranks first among financial advisors in Iowa in terms of number of issues per year. The office has assisted with at least 100 debt issues per year in every year since 2002, as well as serving the continuing disclosure needs of more than 150 issuers annually. As the financial advisor to several Iowa municipalities, Oswald serves the cities of Adel, Asbury, Arnolds Park, Coralville, DeWitt, Grinnell, Keokuk, Milford, Mount Pleasant, Okoboji, Spirit Lake; the counties of Dickinson, Hardin, O’Brien and Wapello, as well as the school districts of Ames, Burlington, Cedar Rapids, Clear Creek Amana, College, Dubuque, Lewis Central, Sioux City, Urbandale and Waterloo, as well as Kirkwood Community College and Northeast Iowa Community College. He is also one of the primary local contacts for the Education Cash Flow Fund, which cost-effectively pools Iowa schools’ annual cash flow needs.

Oswald holds a bachelor's degree in economics from the College of St. Thomas.

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Diane Paauwe

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 612 303-6686

Diane Paauwe

Diane Paauwe specializes in financings for colleges and universities and other nonprofit organizations, as well as special tax and revenue supported financings for state and local government issuers. In the last five years alone, she has been involved in more than 40 bond financings totaling more than $2.4 billion that Piper Jaffray sole or senior managed. Paauwe has completed bond financings for the following colleges and universities: Edgewood College, College of St. Benedict, College of St. Scholastica, St. Mary’s University of Minnesota, St. Olaf College, St. Thomas University and University of Minnesota.

Paauwe joined the public finance department at Piper Jaffray in March 2000. She has more than 20 years of public finance experience from three different perspectives—borrower, underwriter and investor. Paauwe got her introduction to public finance from the private side by working for a real estate development company that financed its multifamily housing projects with tax-exempt bonds. She worked in Dain Bosworth’s public finance department for five years. As an investor, she has worked for two major financial services companies, first for GE Capital and then for Associates First Capital Corp., where she invested in tax-exempt revenue bonds on behalf of these companies. Paauwe’s varied experience has helped her in structuring financings that meet the needs and objectives of both the private sector and public sector participants.

Paauwe holds a Master of Business Administration degree from the University of Minnesota Carlson School of Management and a bachelor’s degree in business administration from Davenport University. She is a past president and member of the board of directors for the Minnesota Institute of Public Finance, Inc.

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John Peterson

Senior Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 503 275-2865

John Peterson joined Piper Jaffray in 2005 and offers clients more than 14 years of experience serving the public and not-for-profit sectors. In terms of banking focus, Peterson can be best categorized as a generalist having worked for Oregon clients ranging from the cities of Hood River, Corvallis, Salem and Tigard’s neighbor Durham; Deschutes and Jackson counties; Tillamook and Medford school districts; and various institutions of higher education, to various cities, counties, school districts, special districts and higher education clients in Washington and Utah. This diversity has provided Peterson with a broad base of experience that includes all types of general obligation and revenue supported debt, variable rate demand bonds, negotiation of letter of credit facilities and special revenue projects.

Over the course of his career, Peterson has been responsible for managing and marketing more than $1 billion of tax-exempt and taxable municipal bonds.

John holds a bachelor’s degree from Brigham Young University and a Master of Business Administration degree from the Wharton School of Business.

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Peter Phillippi

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 602 808-5427

Peter Phillippi

Peter Phillippi is a managing director in the public finance investment banking group at Piper Jaffray and head of the hospitality finance group. He has more than 20 years of investment banking experience that includes hotel, convention and conference center, general state and local government, project revenue and specialty-lease financings with an emphasis on public-private partnerships. Phillippi's primary focus for the past 10 years has been financing convention center and conference center hotel projects. As the director of the hospitality group, he is responsible for managing the group’s efforts in originating tax-exempt and taxable bond and loan issues for hospitality projects. Phillippi has successfully completed more than $10 billion in financings.

Phillippi graduated from Arizona State University with degrees in finance and political science. He is also registered with the New York Stock Exchange and FINRA as a general securities representative.

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Mark Piscatelli

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 860 633-1585

Mark Piscatelli is a managing director in the Hartford office of Piper Jaffray, where he is responsible for developing investment banking and underwriting opportunities throughout the Northeast. A public finance veteran with 18 years of experience, Piscatelli has acted as lead banker on numerous financings throughout the region for a diverse group including state, city, township, university, school district and health development authority borrowers.

Prior to joining Piper Jaffray, Piscatelli was a senior banker at three regional investment banking firms.

A registered general and municipal securities principal, Piscatelli holds a Master of Business Administration degree and a bachelor’s degree in finance from the University of Connecticut.

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Denise Rappmund

Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 949 494-6115

Denise Rappmund is a vice president at Piper Jaffray and a member of the firm’s California public finance investment banking group. Since 2003, she has worked with cities, counties and public agencies to obtain funding for capital projects via public bond offerings. Her experience includes work with various funding structures including general obligation, lease revenue/certificate of participation, Mello-Roos special tax, and tax allocation bonds. She has developed expertise in the areas of redevelopment and land secured debt as well as general lease structures for cities and special districts.

Rappmund is an active member of numerous professional organizations including Municipal Management Association of Northern California, Municipal Management Association of Southern California, Women Leading Government, California Redevelopment Association, California Society of Municipal Finance Officers and the newly formed Women in Public Finance – Los Angeles.

Rappmund holds a bachelor’s degree in international affairs and economics from the University of Colorado, Boulder.

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Russ Reyes

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 310 297-6014

Russ Reyes joined Piper Jaffray in 2008 to support the firm’s expanded business, strengthening its practice in the Western region.

Previously, Reyes specialized in public finance at a bulge bracket investment bank since 1997, where he senior managed a large number of long-term municipal financings. His total senior managed financing experience includes transactions worth more than $18 billion during his 17-year public finance career. Reyes also served as a securities lending specialist at Metropolitan West Securities LLC, where he was responsible for managing cash funding of the firm’s domestic equities lending programs for municipal entities such as California Public Employees’ Retirement System, Nevada State Industrial Insurance System and the Arizona State Compensation Fund.

Reyes graduated magna cum laude from the University of California, Los Angeles with a bachelor’s degree in economics and business.

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Carol Samuels

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 503 275-8301

Carol Samuels is a managing director at Piper Jaffray and has worked with Oregon municipalities for more than 20 years on financings of every type and description, traditional and non-traditional alike. She has emphasized work with school districts, cities and counties. Samuels is frequently called upon to serve on local commissions and boards and has served on panels charged with examining Oregon tax reform and the financing. She is a current board member of the Infrastructure Finance Authority and a member of the School Facilities Task Force. Samuels is a frequent presenter at, and former board member of, the Oregon Association of School Business Officials and the Oregon Municipal Finance Officers’ Association, and was presented with the OMFOA Outstanding Contribution to Public Finance award in 2002. During the 1997 legislative session, she served as the tax and finance lobbyist for the League of Oregon Cities, during which time she represented cities in the drafting of Measure 50.

Formerly, Samuels worked in the public finance groups of U.S. Bank of Oregon and Donaldson Lufkin and Jenrette in New York. She also worked as a financial analyst for the Metropolitan Transportation Authority in New York, and as a lobbyist for the Governor of New Jersey in Washington D.C.

Samuels received a Master of Business Administration degree from the Yale School of Organization and Management and a bachelor’s degree from Tufts University. She holds Series 7 and 52 licenses.

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Dick Schober

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 206 628-2887

Dick Schober is a managing director and head of Pacific-Northwest public finance, overseeing five offices in that region. His banking and advisory business is focused on ports, cities, public power and transportation agencies, but he also has experience working with school districts, counties, special purpose districts, not-for-profits and assessment districts. He offers a full range of public finance skills to his municipal clients, including debt structuring and origination, credit strategy and rating agency coordination, derivative and structured products, and public-private partnership development.

Schober has a very diverse banking and advisory background, having worked since 1987 with almost every type of municipal entity. During the course of his career, he has worked with municipal governments in Oregon, Washington, California, Alaska and Arizona. Previously, he was as a vice president and senior investment banker in Goldman Sachs and Co.’s public sector and infrastructure banking group and Harper, McLean & Co. as a vice president in its Seattle public finance office.

Schober earned a bachelor’s degree in business administration from Washington State University and holds Series 7, 53 and 63 licenses.

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Gene Schulz

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 414 765-1297

Gene Schulz is a managing director in the public finance group at Piper Jaffray. Prior to Piper Jaffray, he was a financial advisor and investment banker to municipalities in Wisconsin and nonprofit organizations. As an investment banker in Wisconsin, Schulz participated in and completed more than $1.6 billion in tax-exempt and taxable bond transactions. He began his career 46 years ago in public accounting, working on the audits for several Fortune 500 companies for nine years.

Prior to working as a financial advisor and investment banker, Schulz was the director of finance for the city of Kenosha, Wis. He was an active member of the Wisconsin Government Finance Officers Association where he served as president and program director.

Schulz graduated with a bachelor’s degree in business administration from Western Michigan University. He is a registered Municipal Securities Principal, Municipal Securities Representative, and is also Series 7 registered with the Financial Industry Regulatory Authority (FINRA).

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Rob Shelley

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 206 628-2879

Rob Shelley is a managing director at Piper Jaffray where he plays an active role in the public finance group and serves as financial advisor to many of the firm’s clients. He also oversees a team of quantitative analysts. In these roles, he has gained extensive experience in all aspects of debt issuance and structuring for issuers of both revenue and general obligation bonds in Washington, Oregon, Alaska and Idaho. Over the course of his career, Shelley has worked with a variety of clients to execute new money and refinancing transactions, general obligation and revenue bonds, Build America Bonds, fixed- and variable-rate issues, lease-backed debt, bank placements, and letter of credit facilities, as well as interim financing solutions.

Shelley holds a bachelor’s degree in economics from the University of Washington. He is a licensed municipal finance and general securities professional (Series 52 and 7) and a registered investment adviser (Series 65

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Michael Smith

Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 412 788-2700

Michael Smith is a vice president in the Pittsburgh public finance group for Piper Jaffray.

Smith has spent his 33-year career in a variety of positions across the private and public sectors. Prior to joining Piper Jaffray, he served as vice president of commerce capital markets at H-T Capital Markets and senior vice president of sales and marketing for Quaestor Municipal Group, Inc. He was also the director of human resources for National Healthcare Concepts. Prior to this, Smith was employed by Allegheny County where he was heavily involved in establishing the Kane Regional Centers and subsequently closing the Kane Hospital.

Smith served on the North Hills Council of Governments as vice president for four years and president since 1996. He was elected director for District I of the Allegheny County Boroughs Association and was appointed by the Allegheny County Commissioners to the public participation panel of the southwestern Pennsylvania Regional Planning Commission. Additionally, Smith has been a member of the borough of Franklin Park council from 1989 through 2005.

A native of Monroeville, Pa., Smith holds a master’s degree in personal administration and labor relations from St. Francis College, and a bachelor’s degree in public administration from Point Park College. He is also a licensed nursing home administrator for the commonwealth of Pennsylvania.

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Annette Sommer

Senior Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 206 628-2878

Annette Sommer is a senior vice president in Piper Jaffray public finance investment banking. Her banking and advisory work is focused on Washington K-12 school districts, cities and special purpose districts. Sommer specializes in analyzing financing alternatives for municipal entities including school districts, cities, water and sewer districts, universities and ports throughout Washington, giving her a strong technical background in bond underwriting. Her broad exposure to various credits and issuer types has created a unique base of knowledge that adds value to the work she does for each client, including an understanding of how to structure bond issues and tax rates, maximize credit ratings, make the best use of available credit enhancements and analyze various methods of securing bond issues to achieve an issuer’s financing goals.

Sommer holds a bachelor’s degree in finance and marketing from the University of Washington and is a guest lecturer for the Seattle Pacific University Ph.D. Program. She is a Series 7 and 52 licensed securities representative.

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Bruce Sorensen

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 612 303-1776

Bruce Sorensen

Bruce Sorensen joined Piper Jaffray public finance investment banking in 2002 with 23 years of experience in fixed income investment banking. Over the course of his career, Sorensen has developed expertise across many areas of public finance including local government, economic development, sales tax, tax increment, project revenue and charter school finance.

Sorensen pioneered important developments in community development finance by utilizing both asset-backed and New Market Tax Credit structures to finance more than $400 million of community facilities in nation-wide programs. Sorensen also led the firm’s entry into the charter school finance market in 2007. Since then, he has served as senior manager on charter school financings totaling more than $250 million and continues to be a leader in this sector.

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Lindsay Sovde

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 206 628-2875

Lindsay Sovde is a managing director at Piper Jaffray, primarily focused on cities, counties, ports and special purpose districts in Washington and Alaska, with expertise serving in either the role of lead banker or financial advisor. She has extensive knowledge of state statutes as they relate to taxing and debt issuance and brings a wealth of experience working with local governments on credit strategy and rating agency interaction.

Sovde previously worked for commercial banks in various positions, most recently as a commercial loan officer. Her background in commercial banking provides clients with a valuable resource for designing and evaluating bank financing options and bank letters of credit, in addition to traditional bond financing.

Sovde earned a bachelor’s degree in business administration from the University of Washington and a Master of Business Administration degree with a concentration in finance from Portland State University. She is a Series 7 licensed securities representative.

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Jeb Spengler

Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 206 628-2880

Jeb Spengler is a vice president in the Piper Jaffray public finance group. His banking and advisory work is focused on public utilities and energy services. Spengler offers his clients unique expertise related to the Bonneville Power Administration and extensive knowledge of rating agency methodology as it relates to public power credits. He has worked on a wide variety of transactions for the benefit of public power and utility issuers, including prepay structures, Clean Renewable Energy Bonds and new generation asset financing.

Previously, Spengler held various finance and accounting positions at Merrill Lynch, JP Morgan, GE Lighting-Europe and Raytheon Missile Systems.

Spengler holds a Master of Business Administration degree from the Foster School of Business at the University of Washington and a bachelor’s degree in business administration, with an emphasis in finance and a minor in economics, from the University of Montana. Spengler has also taken post-graduate level finance classes in the areas of valuation and market regulations from New York University. He holds Series 52 and Series 63 licenses.

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Travis Squires

Senior Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 515 247-2354

Travis Squires is a senior vice president in the public finance group in Des Moines, Iowa. Squires joined Piper Jaffray in 2006 and has experience working with local government municipalities, school districts and community colleges throughout the state of Iowa. He has been involved with various issuer organizations and has broad knowledge and expertise related to debt structuring, bond refinancing, tax increment financing and capital improvement planning. Squires works with a number of Iowa issuers providing them with creative and client-focused solutions tailored for their individual needs.

Squires is involved in the Iowa League of Cities, Iowa Municipal Finance Officers Association, Iowa Association of School Boards and Iowa Association of School Business Officials.

Squires graduated summa cum laude from the University of Northern Iowa with a bachelor’s degree in finance. He is licensed and registered in the state of Iowa.

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Greg Swartz

Senior Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 602 808-5420

Greg Swartz is a senior vice president in the public finance group at Piper Jaffray. He has more than 20 years of experience in state and local government infrastructure finance and general financial management in the states of Georgia, Illinois, Indiana and Arizona.

Prior to joining Piper Jaffray in 2003, Swartz served as executive director for the Water Infrastructure Finance Authority of Arizona and managed state revolving funds in Indiana and Illinois. In addition to assisting local governments with finance infrastructure in the U.S., Swartz has been a public finance and bond bank management consultant to delegations from Croatia, Czech Republic, European Union, India, Mexico, Poland, Romania and Russia.

Swartz holds a bachelor’s degree in economics and a master’s degree in finance.

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Greg Vahrenberg

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 913 345-3374

Greg Vahrenberg

Greg Vahrenberg is a managing director in the public finance investment banking group at Piper Jaffray. With more than 20 years of experience, Vahrenberg focuses on providing financial advisory and underwriting services to state and local governmental issuers throughout Kansas and Missouri. In addition, Vahrenberg works with developers on state and federal lease financings and has completed projects in New Mexico, Utah, Kansas and Georgia.

Prior to joining the firm in 1998, Vahrenberg opened and served as manager of a public finance department for a regional municipal securities dealer bank.

Vahrenberg is currently involved in several organizations including the Kansas Association of School Boards, Kansas League of Municipalities, Missouri Municipal League, Missouri School Board Association and Eastern Kansas Government Finance Officers Association.

Vahrenberg earned a bachelor's degree in accounting from Central Missouri State University.

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Todd Van Deventer

Senior Vice President
Public Finance Investment Banking

E-mail  |  Tel: +1 913 345-3352

Todd Van Deventer is senior vice president in the public finance group at Piper Jaffray and has served the firm’s healthcare clients since 1998. He has expertise in cash flow modeling, bond issue structuring, credit analysis, debt capacity analysis and derivative analysis. Van Deventer has structured and executed the full spectrum of debt issuance options available to healthcare borrowers including fixed-rate bonds, private placements, variable-rate debt, derivatives and term loans. He has completed more than 75 healthcare bond issues in 15 states with a par amount in excess of $3 billion.

Van Deventer graduated with distinction from the University of Iowa and received bachelor’s degrees in economics and political science.

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George Werner

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 267 844-1376

George Werner joined Piper Jaffray in June 2012 as a managing director in the Philadelphia office. He has 23 years of experience in the municipal bond industry.

Werner has served a variety of issuers in Pennsylvania, New Jersey and New England. His senior managed clientele includes Aqua America, Inc., one of the  nation’s largest investor owned and publicly traded water utilities. Werner has senior managed 12 transactions for a combined $580 million in par amount for Aqua since 1999. He has senior managed transactions for issuers including Chester County (PA), Drexel University, Montgomery County, and Northwestern Human Services. Additionally, Werner was responsible for managing the financing that privatized the Philadelphia Naval Shipyard.

Prior to Piper Jaffray, Werner was a managing director at Jefferies & Company, Inc. He has lectured for the Pennsylvania Department of Community Affairs and served on the board of directors of the Pennsylvania Housing Finance Agency.

He holds a Master of Business Administration degree from LaSalle University and is a member of various business and civic boards.

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Joe Wiesner

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: +1 412 788-2700

Joe Wiesner is a managing director in the Piper Jaffray public finance investment banking group. He has 30 years of experience working in the public sector. Prior to joining Piper Jaffray, Wiesner was a partner at H-T Capital Markets. He previously headed the Pittsburgh office for Commerce Capital Markets Inc.

Before working in investment banking, Wiesner served as executive director for the Wilkinsburg-Penn Joint Water Authority, one of the largest authorities in Pennsylvania. He also spent 18 years with the Municipal Authority of Robinson Township managing operations, emergency response and financial plans, labor contracts, insurance programs and capital improvement projects. Additionally, he served as manager of the Municipal Authority of Robinson Township in Allegheny County, one of the most rapidly growing townships in Pennsylvania.

In 2001, Wiesner received the prestigious Markus Award from the Pennsylvania Municipal Authorities Association for his dedication and service. He was appointed by Governor Tom Ridge to the local government advisory committee where he fulfilled a two-term appointment.

Wiesner was a past president of the Pennsylvania Municipal Authorities Association and chairman of the Findlay Township Water Authority board of directors. He has held assistant director and director positions on the board of directors for the Pennsylvania Municipal Authorities Association, in addition to serving on the advisory, membership, conference and legislative committees.

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Brad Winges

Managing Director,
Head of Fixed Income Sales, Trading and Underwriting,
Head of Strategic Trading,
President of Piper Jaffray Investment Management

E-mail  |  Tel: +1 612 303 2112

Brad Winges

Brad Winges is the head of Piper Jaffray fixed income sales, trading and underwriting, head of Piper Jaffray strategic trading and president of Piper Jaffray Investment Management.

Winges joined the firm in 1991 in municipal institutional sales and served as head of municipal sales, trading and underwriting from 2003 until 2007. Since 2007, he has held his current position as head of fixed income services. In 2011, he additionally became president of Piper Jaffray Investment Management.

Winges currently serves as chairman on the board of directors for the Bond Dealers of America and is also a board member for Gillette Children’s Specialty Care. Prior to joining Piper Jaffray, Winges was a member of the Chicago Board of Trade and the Chicago Mercantile Exchange.

Winges graduated from the University of Wisconsin Madison with a bachelor’s degree in economics.

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