Piper Jaffray to Acquire Weeden & Co.

Piper Jaffray Companies announced that it has reached a definitive agreement to acquire 100% of Weeden & Co., L.P. Upon closing, Weeden & Co. will convert to and operate as Piper Jaffray & Co. Founded in 1922, Weeden & Co. provides global trading solutions, specializing in best execution through the use of high-touch and program trading, proprietary algorithmic strategies and derivatives. Headquartered in Greenwich, Conn., the firm also has offices in New York, Boston, Chicago and San Francisco. Weeden & Co. is a leader across multiple equity trading categories, with recognition for 15 consecutive years from Greenwich Associates’ survey of the largest sell-side portfolio trading desks. The acquisition will significantly strengthen Piper Jaffray’s position as a top institutional equities trading platform, diversifying and expanding its client base while adding best in class execution capabilities and proprietary technology. The transaction will complement Weeden & Co.’s existing business, through Piper Jaffray’s added research and equity capital markets capabilities. Together, both firms will be more competitively positioned to add long-term value for clients.