MINNEAPOLIS – January 24, 2008 – Piper Jaffray has hired John Gibas as institutional marketing director to strengthen its investment management presence and build on the firm's September 2007 acquisition of Fiduciary Asset Management, LLC (FAMCO). In his new role, Gibas will further develop relationships with institutional clients for FAMCO, including corporations, public funds, endowments, foundations and financial institutions. 

FAMCO, a wholly owned subsidiary of Piper Jaffray Companies, currently manages $9 billion in assets and offers an array of traditional and alternative strategies for institutional investors, as well as private wealth clients. 

Gibas rejoins Piper Jaffray from FAF Advisors & First American Funds where he focused on the institutional marketplace.

"John's extensive experience in the institutional marketplace is an important part of our asset management growth strategy and will allow us to expand our institutional client relationships," said Wiley Angell, executive managing director of FAMCO.

Gibas will report to Angell and work out of Minneapolis. He holds a bachelor's degree in accounting from the University of Minnesota and a master's degree from the Carlson School of Management.

About Piper Jaffray

Piper Jaffray Companies is an international middle-market investment bank and institutional securities firm, serving the needs of middle-market corporations, private equity groups, public entities, nonprofit clients and institutional investors. Founded in 1895, Piper Jaffray provides a comprehensive set of products and services, including equity and debt capital markets products; public finance services; mergers and acquisitions advisory services; high-yield and structured products; institutional equity and fixed-income sales and trading; and equity and high-yield research. With headquarters in Minneapolis, Piper Jaffray has 25 offices across the United States and international locations in London, Hong Kong, Shanghai and Beijing. Piper Jaffray & Co. is the firm's principal operating subsidiary. (NYSE: PJC) (http://www.piperjaffray.com)

Since 1895. Member SIPC and FINRA.

SOURCE:
Piper Jaffray

CONTACT:
Media Relations, Rob Litt of Piper Jaffray, +1-612-303-8266

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