Piper Jaffray Strengthens Equity Sales and Trading with Addition of Terry McCabe in Firm's New York Office

Business Wire, Oct 10, 2008

NEW YORK -- Piper Jaffray & Co. strengthened its U.S. equity sales and trading team with the addition of Terry McCabe as a managing director where he will co-manage New York equity sales trading with Dan Flanigan. McCabe, who brings more than 20 years of experience, will work out of the firm's New York office.

McCabe joins Piper Jaffray from Bear Stearns & Co., where he was senior managing director, leading a team of more than 30 traders that covered approximately 800 accounts before returning to focus on sales.

"We continue to add high-quality equity sales and trading talent to our platform, and in this time of turmoil we remain dedicated to continuing to serve our clients with the highest quality professionals on Wall Street," said Jim Fehrenbach, head of equity sales and trading at Piper Jaffray. "Terry's extensive leadership experience and client service complement Dan's deep client relationships and trading capability."

McCabe earned a bachelor's degree in English from the Fordham University and a law degree from Pace University School of Law.

About Piper Jaffray

Piper Jaffray Companies (NYSE: PJC) is a leading, 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 28 offices across the United States and international locations in London, Hong Kong, and Shanghai. Piper Jaffray & Co. is the firm's principal operating subsidiary. (www.piperjaffray.com)

Since 1895. Member SIPC and FINRA.

(c) 2008 Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, Minnesota 55402-7020