Dustin Avey

Senior Vice President
Public Finance Investment Banking

E-mail  |  Tel: 913 345-3375

Dustin Avey currently serves as a senior vice president in the public finance group at Piper Jaffray, Leawood, Kansas. Prior to joining Piper Jaffray, Dustin worked in the public finance department of a regional investment bank.

Avey graduated from Iowa State University with a bachelor's degree in finance. He is licensed and registered in the states of Kansas and Missouri. Dustin is involved in the League of Kansas Municipalities, Kansas Government Finance Officers’ Association, Kansas Municipal Utilities and Kansas Association of School Boards.

He has experience working with local governments and school districts, providing financial services and specializing in structuring and refinancing bond issues. In addition, he has broad knowledge of Tax Incremental District Financing and Economic Development financings. Avey works with a number of Kansas and Midwest issuers providing clients with creative financing and economic development solutions.

Michelle Bock

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: 314 726-7532

Michelle Bock is a managing director in the public finance group at Piper Jaffray. She brings 18 years of experience providing investment banking services to governmental entities throughout Missouri and the Midwest.

Bock primarily serves state and local governments, school districts and not-for-profit agencies in planning and implementing their financing objectives. She is well-versed in all aspects of tax-exempt financing and specializes in debt structure selection and strategic planning to achieve the most cost-effective financing available for her clients.

Bock graduated with high honors from the University of Illinois with a bachelor's degree in finance and earned a Master of Business Administration degree from Washington University. She is a licensed FINRA principal and active in a variety of industry associations, including the Government Finance Officers Association.

Bill Davis

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: 602 808-5428

Bill Davis is a managing director and member of the public finance group at Piper Jaffray, Phoenix. Davis has more than 25 years of public finance 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 has received his 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 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.

Mark Farrell

Senior Vice President
Public Finance Investment Banking

E-mail  |  Tel: 310 406-1947

Mark Farrell is a vice president in public finance investment banking at Piper Jaffray. As a specialist in education finance in California, his responsibilities include overall transaction management, bond program structuring, credit enhancement strategies, cash flow and debt capacity analysis, legal document review and support of other education financing transactions. Farrell has more than eight years of experience in the financial services industry advising both public agency and private industry clients.

Since joining Piper Jaffray in 2002, Farrell has worked with a variety of financing vehicles for educational issuers, including general obligation bonds, certificates of participation, Mello-Roos bonds, tax and revenue anticipation notes, bond refinancing and liability funding. He is the lead banker on the California Cash Reserve Program and involved with financing more than 400 school districts with an aggregate par amount exceeding $6.5 billion.

Farrell holds a bachelor's degree in international relations from the University of Pennsylvania, and a Master of Business Administration degree from the UCLA Anderson School of Management.

Matt Gillaspie

Vice President
Public Finance Investment Banking

E-mail  |  Tel: 515 247-2353

Matt Gillaspie is a vice president in the education practice of the public finance group at Piper Jaffray. Gillaspie joined Piper Jaffray in October 2000 after working as a fixed income trader in the brokerage division of Iowa’s largest locally-owned bank. Prior to that, he worked on the retail side of the brokerage business for a private brokerage firm, as well as in the institutional sales department of Piper Jaffray and the Iowa Municipal Trading desk of Dain Rauscher, Inc.

Gillaspie is FINRA licensed as a Municipal Principal and holds a bachelor's degree from The California State University, Long Beach.

Todd Goffoy

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: 913 345-3373

Todd Goffoy is a managing director in the public finance investment banking group at Piper Jaffray. Prior to the joining Piper Jaffray in 1991, Goffoy has served as finance director for a suburban municipality for four years. He has specialized in local government finance for 16 years and currently focuses on projects for Missouri school districts.

Goffoy recently served a three-year term on his local school board and has completed the Certified Board Member Program from the Missouri School Boards Association (MSBA). Goffoy earned a Masters of Business Administration degree from Rockhurst College and a bachelor's degree in accounting from Southwest Missouri State University.

William Henderson

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: 913 345-3370

William Henderson is a managing director in the public finance group at Piper Jaffray in the Kansas City and St. Louis public finance offices. Henderson has 16 years experience providing financial advisory and underwriting services to issuers of municipal bonds and serves on the Continuing Education Content Committee of the New York Stock Exchange and the Sales Supervisory Exam Review Committee of the National Association of Securities Dealers.

Henderson completed a six-year term on the Professional Qualifications Committee of the Municipal Securities Rulemaking Board, the committee that writes the qualification examinations for municipal professionals. He graduated magna cum laude from Drake University, Iowa with a bachelor's degree in public administration and holds a Master of Business Administration degree in public administration from the University of Kansas.

Janet Laney

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: 314 726-7530

Janet Laney is a managing director in public finance investment banking at Piper Jaffray. Since joining the firm in 1995, she has worked with more than 75 education institutions issuing $2 billion in short-term and long-term tax-exempt notes and bonds providing debt underwriting, financial advisory and interest rate risk management products of all varieties.

Previously, Laney was an associate treasurer at Saint Louis University for 10 years. She managed the University’s debt borrowings both commercially and in the tax-exempt market, and the operating cash and endowment funds. Laney was responsible for issuing approximately $150 million of tax-exempt bonds for numerous capital projects. She was also responsible for maintaining rating agency and credit enhancement relationships on the University’s behalf and was involved in the initial credit rating and subsequent upgrades. Laney’s education clients include Long Island University, Creighton University, Rockhurst University, Loyola University–Chicago, St. Ambrose University, Drake University, Saint Louis University, Ranken Technical College, CBC–High School, DeSmet Jesuit High School and Rockhurst High School, among other private education clients.

Keith Morgan

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: 312 920-3240

Keith Morgan is a managing director in public finance investment banking at Piper Jaffray, where he manages education finance for colleges and universities across the country. Prior to joining the firm, Morgan was director of the education financing group at John Nuveen & Co.

Morgan earned a bachelor's degree from the University of Virginia and holds a Master of Business Administration degree from the University of Chicago.

Timothy Oswald

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: 515 247-2358

Timothy Oswald joined Piper Jaffray in 1989 and is a managing director in the public finance department 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 also involved in the economic development for the Iowa Agricultural Finance Corporation equity units and two start-up ethanol plants in Kossuth County, Iowa and Monroe, Wis. In addition, Oswald has experience with traditional municipal debt for cities, counties and schools.

Under his leadership, the Des Moines office has worked on more than 100 issues per year for the past six years, and has ranked first among financial advisors in Iowa in terms of number of issues per year. As the financial advisor to several Iowa municipalities, Oswald serves the cities of Marshalltown, Coralville, Keokuk and Mount Pleasant, as well as the school districts of Ames, Burlington, Clinton, College, Dubuque, Linn-Mar, Marion, Sioux City and Urbandale. He is also the primary local contact for the Iowa Schools Cash Anticipation Program, which cost-effectively pools Iowa schools’ annual cash flow needs.

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

Diane Paauwe

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: 612 303-6686

Diane Paauwe joined the public finance department at Piper Jaffray as a vice president in March 2000. She has over 15 years of public finance experience from three different perspectives—borrower, underwriter and investor. Paauwe got her introduction to public finance from the private side, 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 worked for two major financial services companies, first for GE Capital and then for Associates First Capital Corporation, where she invested in tax-exempt revenue bonds on behalf of these companies. Paauwe’s varied experience helped her in structuring financings that meet the needs and objectives of both the private and public sector participants.

At Piper Jaffray, Paauwe is involved in over 160 bond financings totaling more than $5 billion. She specializes in financings for non-profit organizations, as well as special tax and revenue supported financings for city and county governments and special purpose development and redevelopment agencies. Paauwe recently completed bond financings for the following non-profit borrowers: Care Initiatives, Wilder Foundation, Hazelden Foundation, The Blake School, Mounds Park Academy, Providence Academy, Minnesota Public Radio, Southern California Public Radio, Edgewood College, College of St. Scholastica, St. Mary’s University of Minnesota and St. Thomas University.

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

Ike Papadopoulos

Vice President
Public Finance Investment Banking

E-mail  |  Tel: 617 654-0772

Ike Papadopoulos recently joined Piper Jaffray in Boston as a vice president. He has more than six years of public finance experience and most recently was the director of financing programs at the Massachusetts Health & Educational Facilities Authority (Mass. HEFA). While at Mass. HEFA, he worked on many health care financings, including Children’s Hospital, Baystate Medical Center, Partner’s Health Care and UMass Memorial Medical Center. Prior to Mass. HEFA, he spent several years at the Massachusetts Bay Transportation Authority, most recently as the deputy budget director responsible for developing and implementing the $2.5 billion Capital Investment Program. Papadopoulos started his career as an associate in Public Finance at Bear Stearns in New York.

Papadopoulos earned a bachelor’s degree in business administration from Kingston University in Greece and a Master of Business Administration degree from Northeastern University in Boston.

John Peterson

Vice President
Public Finance Investment Banking

E-mail  |  Tel: 503 275-2865

John Peterson is a vice president in the public finance group at Piper Jaffray. He joined the firm in 2005 and currently focuses on analyzing financing alternatives and providing investment banking services for municipal entities including cities, counties, ports, school districts, water and sewer districts, and colleges and universities. His work enables issuers to better evaluate structuring options and rate impacts. In addition, he conducts refunding and financial statement analyses for bond issuers.

Peterson, a former foreign service officer, began his public finance career in 2003 and previously worked as a management consultant and for a successful Internet start-up company.

Peterson received a bachelor’s degree in political science from Brigham Young University, and earned a Master of Business Administration degree in finance from the Wharton School of Business at the University of Pennsylvania.

Rex Ramsay

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: 515 247-2356

Rex Ramsay joined Piper Jaffray in 1987. He graduated from Iowa State University of Science and Technology receiving a bachelor's degree in economics and Master of Science degree in economics.

Ramsay currently serves many of the political subdivisions of the Upper Midwest. He started in the municipal field in June, 1971, and he became financial advisor for many of Iowa’s municipalities, counties and school districts. Some of the more prominent Iowa political subdivisions represented by Ramsay include: Newton, Mason City, Fort Dodge, Storm Lake, Muscatine, Burlington and within the Des Moines Metropolitan area the city of Urbandale. School Districts which Ramsay represents include Johnston CSD, Pella CSD, Hudson CSD, Webster City CSD, Atlantic CSD and Clear Lake CSD.

Gene Schulz

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: 414 765-1297

Gene Schulz is a managing director in the public finance group at Piper Jaffray. Prior to Piper Jaffray, Schulz was a financial advisor and investment banking to municipalities in Wisconsin and nonprofit organizations. As an investment banker in Wisconsin, Schulz participated in and completed more than $1.5 billion in tax-exempt and taxable bond transactions. Schulz began his career 43 years ago in public accounting and worked 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, Wisconsin. He was an active member of the Wisconsin Government Financial 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 representative with the Municipal Securities Rulemaking Board.

James Sult

Senior Vice President
Public Finance Investment Banking

E-mail  |  Tel: 602 808-5425

Jim Sult is a senior vice president with the Piper Jaffray hospitality finance group. Since joining Piper Jaffray in 2004, Sult has provided investment banking services on the Austin Convention Center Hotel restructuring, the Baltimore Convention Center Hotel financing, the Erie Convention Center Hotel financing, and the Lombard Conference Center and Hotel financing, the Arizona Game and Fish Department and Commission, and Mohave County administration building projects. Sult has more than nine years of investment banking experience in both public and corporate finance, where he has provided quantitative support for municipal debt issues, asset-based financings and merger and acquisition transactions. In addition to his investment banking experience, he spent three years as a consultant specializing in corporate restructuring including business turnarounds, assisting debtors and in bankruptcy situations and debt restructuring.

Sult received his Masters of Business Administration degree from Georgetown University and a bachelor of business administration degree in finance from the University of Arizona and is registered with FINRA as a General Securities Representative.

Everado "Lalo" Trujillo

Vice President
Public Finance Investment Banking

E-mail  |  Tel: 310 406-1946

Lalo Trujillo is a vice president in public finance investment banking at Piper Jaffray. He has more than 14 years of experience in the municipal bond industry in investment banking, credit enhancement and working for a government entity. Trujillo brings substantial experience in working directly for credit providers along with requisite expertise for successful preparation and presentation of credit packages while negotiating the most advantageous terms and conditions.

Prior to joining Piper Jaffray, Trujillo was an investment banker with a national firm and worked at major international banks providing credit enhancement for municipal bond issues. He has extensive experience with various sectors of municipal finance, including water, wastewater, General Obligation, certificates of participation and redevelopment financings. Trujillo managed the San Francisco office of a European bank, where he specialized in credit enhancement for tax-exempt bond issues.

Trujillo graduated with a bachelor’s degree from the University of California at Berkeley and received a Master of Business Administration degree from the University of California at Los Angeles.

Greg Vahrenberg

Managing Director
Public Finance Investment Banking

E-mail  |  Tel: 913 345-3374

Greg Vahrenberg is a managing director in the public finance investment banking group at Piper Jaffray. 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. With more than 15 years of experience, Vahrenberg focuses on providing financial advisory and underwriting services to municipalities throughout Kansas and Missouri.

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