Corporate Investment Banking

Piper Jaffray investment bankers specialize in serving public and private middle market companies and private equity sponsors. Our investment bankers are highly driven individuals with a passion for managing complex transactions for some of today's most exciting growth companies. We employ an industry-focused strategy, which emphasizes in-depth knowledge and expertise of the industries we serve.

Our public equity and debt underwriting capabilities involve cross-departmental teams from institutional equity sales and trading, equity and debt capital markets, and convertible securities, who are closely integrated with investment banking during the process.

Our clients also benefit from the full range of strategic M&A advisory services provided by Piper Jaffray. All of our M&A bankers use an industry-focused approach, a proven selling process and years of experience to successfully advise and maximize value for our clients.

In addition, our team has expertise in private placements, financial restructuring and other financial advisory services, demonstrating our commitment to providing product breadth across business cycles to serve clients' needs.

Piper Jaffray offers exposure to senior bankers and successful clients from day one. For those who have what it takes to join the team, your career can go as far as your drive to succeed.

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The investment banking associate works on a variety of transactions at every stage from pitch to closing. Associates are immediately assigned to a wide range of projects and given as much responsibility as their experience and capabilities permit. With supervision from senior bankers, associates prepare valuations for private companies, write memorandums for company sale assignments and private placements, prepare fairness opinions and attend drafting sessions for public offerings.

New associates are hired for industry teams that are compatible with their interests and capabilities. Each team is led by a group head, who supervises and reviews performances of all members of the team.

As an associate's skills develop, additional responsibilities will include taking primary responsibility for deal execution of all types of transactions, maintaining client relations during the deal execution period, building industry-specific or product-specific expertise, initiating new client relationships and expanding a business franchise within a designated industry/product sector.

The most successful people in investment banking usually have a Master of Business Administration degree and come to Piper Jaffray with some significant financially related work experience. This background enables them to contribute effectively to the department at an early stage in their development. Members of the investment banking team must have high energy and the ability to juggle multiple projects and possess the confidence, maturity and personal attributes necessary to develop successful client relationships.

The investment banking analyst program is a rigorous two-year program for exceptionally qualified individuals. Our analysts work closely with senior bankers to make a real impact on our clients' businesses through involvement in all facets of investment banking activities including equity and debt offerings, valuations, private placements, mergers and acquisitions, leveraged buyouts and strategic advisory work. On a day-to-day basis our analysts:

• Create financial models
• Conduct financial valuations
• Create and maintain industry-specific business development books
• Conduct industry- and company-specific research
• Interact with clients and senior bankers

Our environment is collaborative, demanding, fast-paced and entrepreneurial. Our clients are extraordinarily dynamic and our people have what it takes to excel.

Analyst Training & Development

Our analyst program begins in July with three weeks of rigorous training at our headquarters in Minneapolis. New analysts attend from offices around the world, including Minneapolis, New York, San Francisco, London, Hong Kong and Shanghai. Training is designed to give analysts a broad understanding of our firm and its capabilities, as well as a strong technical foundation. Technical topics covered include accounting, valuation, financial modeling and general computer skills. Trainees also attend overview sessions on the following:

• Initial Public Offering (IPO) process
• Merger & Acquisition process
• Private Capital process
• Alternative Investments
• Corporate & Venture Services
• Debt Capital Markets
• High-Yield & Structured Products
• Financial Sponsors
• Convertibles
• Equities
• Restructuring

Numerous social and team-building activities take place throughout training to help new employees begin their careers with strong relationships among their peers.

Analyst Career Path

Piper Jaffray is dedicated to supporting analysts as they complete their two-year commitment. Top performers may have the option of a third year. Direct promotions to associate level positions are also available.

Analysts interested in pursuing opportunities outside of the firm will have the opportunity to participate in a program designed to give information and networking contacts for opportunities in private equity, corporate development and business school.

What We Look For

Piper Jaffray seeks dedicated and motivated individuals possessing demonstrated academic achievement (generally, a GPA above 3.3) as well as leadership, organizational and teamwork skills. The ability to create innovative solutions, articulate complex ideas and adapt to a rapidly changing environment is essential. Analysts must be able to work well under pressure and manage multiple projects. The most successful analysts have taken courses in finance and accounting and are very familiar with financial modeling.

In addition to our full-time positions, Piper Jaffray sponsors a 10- to 12-week summer associate program. Because we hire only a select few first-year M.B.A.s for our summer program, summer associates have the opportunity to have a complete personal experience, while making a significant contribution. Summer associates work directly with an industry or product team and participate extensively in presentations and transactions throughout the summer. In addition, through a variety of social activities and weekly events with senior bankers and management, summer associates are exposed to all facets of our firm.

Each year, Piper Jaffray hires several college juniors for our summer analyst program. The purpose of the program is to identify potential candidates for our two-year full-time analyst program. Summer analysts generally work 10 to 12 weeks with an industry or product group and have the opportunity to learn financial modeling and basic analysis of companies and industries, as well as gain an understanding of the dynamics of investment banking.