NEW YORK, Sept. 19 /PRNewswire-FirstCall/ -- U.S. Bancorp Piper Jaffray
(Piper Jaffray) is pleased to announce the continued expansion of its fixed-
income mortgage sales and trading capabilities in New York. The firm has
continued to add staff in New York since it started operations there in May,
"We have added high-quality, talented and experienced people to help
expand our mortgages business and presence in the New York area," said Mike
Effron, head of fixed income trading at U.S. Bancorp Piper Jaffray. "This
expansion will help us to better serve our clients' needs in mortgages, which
has been a key area of growth for our firm."
To staff this expansion, Piper Jaffray hired Kenneth Clisham as a senior
mortgage salesperson. Clisham joins the firm most recently from Vcross Capital
Markets, where he was the head of sales and trading in New York. Prior to
that, he was head of trading at Visible Markets also in New York. In addition,
Clisham spent time at Chase Securities in New York, where he was a vice
president, Greenwich Capital where he was a managing director and he spent
10 years at Merrill Lynch Mortgage Capital, where he was a managing director.
Also joining Piper Jaffray as a senior mortgage salesperson is Doug
Conrod. Conrod comes to the firm from Vcross Capital Markets, where he was a
managing director in structured product and derivative sales. Prior to that,
he was a salesperson in Societe Generale Securities' International Fixed
Income and Emerging Market Sales in New York. Conrod also spent three years in
international fixed income sales at HSBC Securities in New York. He has a
bachelor of arts degree in history from St. Lawrence University in Canton,
N.Y., and a master of business administration degree from Columbia Business
School in New York.
Bill Cameron joins Piper Jaffray in mortgage sales after working as a vice
president in taxable fixed income sales for Prudential Securities Inc., in New
York. Prior to that, he worked in sales as an account manager at Moneyline
Telerate Inc., and at Bridge Information Systems, in New York. Cameron spent
the first 18 years of his career in mortgage-backed sales. Overall, he has 20
years of experience in the financial industry. Cameron has a bachelor of
science degree in business administration from Villanova University in
In addition, the firm hired Jimmy Lew as a senior pass-through trader in
mortgages. Lew comes to Piper Jaffray most recently from Ginnie Mae, where he
was the head of the firm's New York Office of the Capital Markets Division for
the past four years. Prior to that, he spent eight years as a mortgage-backed
securities trader in New York at HSBC Securities Inc., Smith Barney Shearson
Inc., and Kidder, Peabody and Co., Inc. Lew has a bachelor of arts degree in
applied mathematics from Harvard University in Cambridge, Mass.
U.S. Bancorp Piper Jaffray, a subsidiary of the consolidated group of U.S.
Bancorp (NYSE: USB), is a focused securities firm comprised of two revenue-
generating segments -- Capital Markets and Private Client Services. Clients
of both segments are supported by Investment Research, an independent group
reporting to the CEO. The firm provides a full range of investment products
and services to individuals, institutions and businesses. The firm has over
124 offices in 25 states across the country. U.S. Bancorp offers a
comprehensive range of financial solutions through U.S. Bank, U.S. Bancorp
Asset Management, U.S. Bancorp Investments and U.S. Bancorp Piper Jaffray. 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
U.S. Bancorp Piper Jaffray, 800 Nicollet Mall, Suite 800, Minneapolis,
Additional information is available upon request.
SOURCE U.S. Bancorp Piper Jaffray