MINNEAPOLIS, June 19 /PRNewswire-FirstCall/ -- U.S. Bancorp Piper Jaffray
(Piper Jaffray) is pleased to announce the strategic expansion of its
fixed-income municipal trading and sales capabilities in New York as well as
the addition of resources in Minneapolis and Chicago.
"We have made several strategic additions in our municipal business that
will strengthen our sales and trading platform," said Brad Winges, head of
municipal sales, trading and underwriting in U.S. Bancorp Piper Jaffray's
Fixed-Income Division. "These additions will continue to help us maximize our
individual strengths and fuel our efforts in municipals."
To staff this expansion, the firm hired John Calia as a managing director
and head of municipal secondary trading in the New York office. Calia joins
the firm from Lehman Brothers in New York, where he worked for the past
19 years in the municipal bond trading department. Most recently at Lehman
Brothers, he was managing director and head of municipal bond trading.
In addition, the firm hired John Donovan in February as a managing
director in municipal institutional sales also in the New York office. Donovan
joins Piper Jaffray most recently from J.P. Morgan, where he was a vice
president in institutional municipal sales for nine years.
Piper Jaffray has also added new positions in Minneapolis and Chicago.
Luke Baker was hired in April in institutional trading credit surveillance.
Baker most recently worked as a research analyst at Jeffrey Slocum and
Associates in Minneapolis. Prior to that, he spent three years as a research
analyst at Evensen Dodge Inc., in Minneapolis.
In addition, Shawn Somerville is head of a new municipal money market desk
also in Minneapolis. Somerville joined Piper Jaffray in March after spending
six years as a senior portfolio manager at Wells Fargo. Mike Paone, who was
hired in March from U.S. Bancorp Asset Management, is working on the money
market desk in Minneapolis. Lastly, Cheryl Pawlikowsky is heading up a dealer
desk in institutional sales in the firm's Chicago office. Pawlikowsky has been
with the firm in institutional municipal sales since 1996.
U.S. Bancorp Piper Jaffray, a subsidiary of Minneapolis-based
U.S. Bancorp (NYSE: USB), is a focused securities firm comprised of four lines
of business: Equities and Investment Banking, Fixed Income, Private Advisory
Services and Investment Research. The firm provides a full range of investment
products and services to individuals, institutions and businesses and has over
124 offices in 25 states across the country. For more information on U.S.
Bancorp Piper Jaffray, visit www.piperjaffray.com .
This press release contains forward-looking statements. Statements that
are not historical or current facts, including statements about beliefs and
expectations, are forward-looking statements. These forward-looking
statements are subject to risks and uncertainties relating to the proposed
spin-off of the U.S. Bancorp Piper Jaffray business, including the impact of
the proposed spin-off on U.S. Bancorp's and the new company's results of
operations, the financial accounting consequences of the proposed transaction,
the impact of the spin-off on U.S. Bancorp's stock price and on its and the
new company's relationships with their respective customers and employees, the
tax consequences of the transaction to U.S. Bancorp, the new company and their
respective stockholders, changes in business climate or market conditions or
other factors which could make the proposed spin-off unadvisable. These
forward-looking statements involve other inherent risks and uncertainties, and
other important factors could cause actual results to differ materially from
those anticipated, including those contained in U.S. Bancorp's Form 10-K and
other reports on file with the U.S. Securities and Exchange Commission.
Forward-looking statements speak only as of the date they are made, and U.S.
Bancorp undertakes no obligation to update them in light of new information or
Additional information is available upon request.
SOURCE U.S. Bancorp Piper Jaffray