Piper Jaffray, a US-based investment bank and asset management firm, has agreed to acquire River Branch Holdings, an investment banking boutique led by David Olson and Steven Kent.
Following the acquisition, Olson will serve as co-head of Piper Jaffray financial institutions investment banking, alongside Bob Hutchinson. Kent will serve as investment banking vice chairman.
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The deal is part of Piper Jaffray’s strategy to expand its Financial Institutions Group (FIG). As a part of this strategy, the group hired five managing directors in its FIG investment banking division in June this year.
The company recently also expanded its FIG-focused equity research and institutional sales and trading groups.
The buyout is expected to further boost Piper Jaffray’s M&A leadership and add significant investment banking resources dedicated to banks, thrifts and depository institutions.
Piper Jaffray chairman and CEO Andrew Duff said: "We are pleased to welcome this industry veteran team to our firm. River Branch Holdings, with its partnership-centric culture, middle-market advisory capabilities and senior talent, will be an instrumental component of our plan to compete aggressively in the financial services sector."
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