Piper Jaffray has announced a major expansion of its investment banking team with the addition of a financial institutions group (FIG) dedicated to depository, diversified financials, financial technology and insurance clients.
The firm also added FIG capital markets coverage. This announcement follows Piper Jaffray’s recent FIG additions in equity research and sales & trading.
'The FIG senior banking and capital markets team is in place and we are now a formidable force in the financial institutions arena', said Andrew Duff, Piper Jaffray Companies chairman and chief executive officer. 'We’ve enlisted the highest-caliber talent across our core businesses and look forward to leveraging this full-service expertise for our clients'.
Daryle DiLascia will oversee FIG capital markets. The bankers were most recently employed at Sterne Agee. DiLascia, Barry, Majar and Murray will be located in New York, with Hutchinson based in the firm’s Bostonoffice.
Prior to Sterne Agee, Hutchinson was a managing director at Keefe, Bruyette &Woods. From 2009 to 2015, he served in a number of leadership capacities at Sterne Agee, including head of the depository institutions group and head of the northeast region. Hutchinson also served four years as an officer in the United States Marine Corps. He holds a bachelor’s degree from Boston College and a Master of Business Administration degree fromThe Ohio State University Fisher College of Business
DiLascia served as an executive managing director and head of investment banking at Sterne Agee, where he worked from 2012-2015. Prior to that, he spent 17 years with Keefe, Bruyette & Woods, Inc., where he was an executive vice president and co-head of equities. DiLascia holds a bachelor’s degree from Syracuse University and a Master of Business Administration degree from Boston College.
Barry served as a senior managing director and head of depository M&A at Sterne Agee and was previously head of financial institutions M&A at Stifel Financial Corp.Prior to that, he was head of Merrill Lynch’s depository institutions group and head of depository M&A at Banc of America. Barry holds a bachelor’s degree summa cum laude fromPrinceton University and a Master of Business Administration degree with distinction from theUniversity of Pennsylvania Wharton School.
Majar was a managing director at Sterne Agee focused on the diversified financial services space and prior to that, a managing member of Majar Advisors LLC which was developing Orcus Spread Networks, a concept for an institutional buy-side focused trading system that incorporated HFT technology and techniques. Prior, Majar was a senior partner and managing director at Freeman & Co. He holds a bachelor’s degree from the University of Washington and a Master of Business Administration degree from Columbia University.
Murray was a managing director at Sterne Agee focused on finance companies and asset managers, and prior to that, a managing director at Freeman & Co. He previously served as head of the financial institutions group at Houlihan Lokey and the head of North American corporate finance at Fox-Pitt, Kelton. Murray holds a bachelor’s degree from DePaul University and a Master of Business Administration degree from UCLA.
'We are excited to expand our investment banking group with this veteran team. With financial institutions being an important economic sector, it is a core focus for the firm as we continue to explore ways of better serving our clients', said Chad Abraham, global co-head of Piper Jaffrayinvestment banking and capital markets.
'It is a privilege to lead the financial institutions banking efforts for an industry leader like Piper Jaffray at a time when it is broadening its sector expertise across multiple platforms', said Hutchinson. 'Piper Jaffray has longstanding leadership in capital markets across several key industries', he added
Daryle DiLascia, head of FIG capital markets. 'Our intention is to leverage this success to create more wins for clients and the firm'.