Launches Fixed-Income Trading Office in New York, Hires Top Mortgage Talent
MINNEAPOLIS, May 31 /PRNewswire-FirstCall/ -- U.S. Bancorp Piper Jaffray
today announced the strategic expansion of its fixed-income sales and trading
operations, with a new trading presence in New York, which will focus
initially on trading mortgage backed securities. This expansion builds upon
the firm's nation-wide fixed income sales and trading services in Minneapolis,
San Francisco, Kansas City, Seattle, Chicago, Denver and Phoenix, and rounds
out the firm's industry expertise in agency, corporate and municipal and
preferred trading. The new trading group will be located in the firm's
Chrysler Building offices in mid-town Manhattan.
To staff this expansion, the firm has hired trading veteran Jim Perillo,
who will be a senior collateralized mortgage obligation (CMO) trader and team
leader for the mortgage structured products trading group. Perillo, known in
the industry for his broad experience in trading agency and whole loan CMOs,
will bring an added dimension to the firm's current mortgage-backed securities
operation, which includes Matthew Baber, Senior Trader in Minneapolis. Also
adding to the firm's mortgage capabilities are recent hires Irene Fan,
Institutional Sales in San Francisco and Toby Chakeen, Institutional Sales in
Chicago. Prior to joining Piper Jaffray, Perillo was vice president and
senior trader at JP Morgan Securities, formerly Chase Securities, where he
spent the last eight years in Chase's mortgage trading group. Perillo holds a
bachelor of science degree from St. John's University in New York.
In addition, the firm has hired Andrew Collins as a senior trader
specializing in structured products. Collins has more than 10 years
experience in the structured product origination and trading market, with the
past four years at JP Morgan Securities, formerly Chase Securities. Prior to
working at JP Morgan, Collins worked at Paine Webber, where he was responsible
for the structuring and marketing of whole loan and agency CMOs. Collins
holds a bachelor of science degree from Miami University, in Oxford, Ohio and
an MBA from the University of Chicago. Collins and Perillo will be located in
the firm's Manhattan offices.
Perillo and Collins represent some of the best trading talent in the
industry, said Mike Effron, head of taxable trading at Piper Jaffray.
expertise will complement our current mortgage-backed trading desk and will be
instrumental in our building a top-tier fixed-income trading platform.
Perillo and Collins were drawn to the firm's unique culture and commitment
to building a top-tier fixed-income franchise.
Piper Jaffray's fixed-income services are rapidly taking share from other
firm's, said Perillo.
I'm excited to be part of this winning team. Piper's
commitment to the mortgage business has positioned the firm to be the top
mortgage trading team amongst our peers.
The U.S. Bancorp Piper Jaffray Fixed Income Capital Markets (FICM)
business provides bond issuers, individual investors and institutional
investors expertise in investment banking, underwriting, trading, sales and
research. The firm offers innovative solutions in corporate and government
debt financing, with particular expertise in corporate, health care/hospitals,
real estate, higher education and government debt. With offices in 23
locations in the United States, the U.S. Bancorp Piper Jaffray FICM business
underwrote new bond issues totaling more than $37 billion in 2001. U.S.
Bancorp Piper Jaffray, based in Minneapolis, is a subsidiary of
U.S. Bancorp (NYSE: USB). For more information on the U.S. Bancorp Piper
Jaffray FICM business, visit http://www.piperjaffray.com .
Nondeposit investment products are not insured by the FDIC, are not
deposits or other obligations of or guaranteed by U.S. Bank National
Association or its affiliates, and involve investment risks, including
possible loss of the principal amount invested. Securities products and
services are offered through U.S. Bancorp Piper Jaffray Inc., member SIPC and
NYSE, Inc., a subsidiary of U.S. Bancorp. (5/99-0679)
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SOURCE U.S. Bancorp Piper Jaffray
/CONTACT: Erin K. Freeman, Director of Public Relations, +1-415-277-1595,
or Susan Beatty, Public Relations, +1-612-303-5680, both of U.S. Bancorp Piper
/Web site: http://www.piperjaffray.com /
CO: U.S. Bancorp Piper Jaffray; U.S. Bancorp
ST: New York, Minnesota
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5648 05/31/2002 08:59 EDT http://www.prnewswire.com