MINNEAPOLIS, Oct. 15 /PRNewswire-FirstCall/ -- U.S. Bancorp Piper Jaffray
(Piper Jaffray) is pleased to announce the addition of Jim Niederle and Greg
Swartz in public finance and Steve Cavalier in institutional tax-exempt
Niederle joins as a managing director and senior investment banker in the
Piper Jaffray Houston office, bringing 18 years of experience in public
finance to the firm. Most recently, Niederle was a managing director in public
finance at Banc of America Securities in Houston. He has a bachelor of arts
degree in political science from Cleveland State University in Cleveland, Ohio
and a masters of public administration from The Ohio State University in
Swartz joins the Piper Jaffray public finance effort as a vice president
in Phoenix, Ariz. For the past eight years, Swartz has been the executive
director for the Arizona Water Infrastructure Finance Authority also in
Phoenix, which is responsible for managing the state's clean water and
drinking water revolving fund programs in Arizona. He has a bachelor of arts
degree in economics and political science from Butler University in
Indianapolis, Ind., and a master's of public affairs from Indiana University
in Bloomington, Ind.
"We are thrilled to have added Jim and Greg to our public finance team,"
said Frank Fairman, head of public finance at U.S. Bancorp Piper Jaffray. "Jim
will help increase our presence and better serve our clients in the Texas
market, while Greg will utilize his experience to continue building our
presence with Arizona government and clients as well as add to our expertise
nationally in clean water and drinking fund revolving programs."
Cavalier joins the institutional tax-exempt trading team from Seattle
Northwest Securities Corporation, where he was a vice president in municipal
trading in Seattle. Prior to that, he held the same position at Greenwich
Partners in Greenwich, Conn., and was also vice president and regional manager
of municipal trading at Kemper Securities in San Francisco. He has a
bachelor's of science degree in finance from Santa Clara University in Santa
"Steve comes to us with more than 15 years of experience in municipal
trading and will be a welcomed addition to our team," said Brad Winges, head
of municipal trading at U.S. Bancorp Piper Jaffray.
These three recent hires are part of an on-going expansion plan in the
Piper Jaffray municipal effort. In the past year, Piper Jaffray has added a
municipal derivatives effort, built a specialized short-term municipal trading
desk and added a number of additional staff in public finance and municipal
sales and trading.
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
Additional information is available upon request.
SOURCE U.S. Bancorp Piper Jaffray