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Piper Sandler Continues To Make Significant Investments In Credit Union Group With Several Key Hires
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Rhea-AI Summary
Piper Sandler Companies (NYSE: PIPR) announces significant growth in its credit union group with four new managing directors: Jake Pettit, Kent Purcell, Joey Vandergrift, and David Frazier. Pettit, with 20 years of credit union sales experience, and Searles will spearhead the team to enhance market share. Purcell and Vandergrift contribute extensive experience in fixed income strategies, while Frazier will focus on loan participation analysis. This expansion aims to bolster Piper Sandler's capabilities and provide superior solutions to credit union clients, enhancing its competitive position.
Positive
Addition of four managing directors strengthens Piper Sandler's credit union group.
Jake Pettit's 20 years of credit union sales experience enhances market reach.
Purcell and Vandergrift bring valuable fixed income expertise.
Expansion aims to improve solutions for credit union clients and increase market share.
Negative
None.
MINNEAPOLIS--(BUSINESS WIRE)--
Piper Sandler Companies (NYSE: PIPR), a leading investment bank, realizes meaningful growth in its credit union group with the hiring of managing directors Jake Pettit, Kent Purcell, Joey Vandergrift and David Frazier. The addition of these four will bolster the firm’s existing team of dedicated credit union professionals within the investment banking, capital markets and financial strategies verticals. Jon Searles and Jake Pettit will lead the expanded group of dedicated credit unions professionals.
Pettit joins Piper Sandler from Raymond James, adding 20 years of credit union sales experience to the team. His hiring comes on the heels of Searles joining from Stifel in late 2021. The two have assumed their roles as co-heads of the Piper Sandler credit union group, building upon their tenured relationships and decades of industry experience to grow the firm’s market share in the space.
“We are thrilled to have Jake join and co-lead our growing team,” said Searles, co-head of the credit union group. “I am excited to leverage the unique insights that we have both gained on separate, successful credit union teams with the robust resources of the Piper Sandler platform, to build a premier credit union franchise.”
Purcell and Vandergrift join the firm from the fixed income strategies team at Raymond James. At Raymond James, Purcell provided technical solutions related to pre/post-purchase analysis, balance sheet optimization, transaction simulation and new analytical measures. Vandergrift primarily advised the depository institution clients of Raymond James on fixed income portfolio construction, balance sheet management and strategies for maximizing their financial performance. They will join the Piper Sandler financial strategies group of 30+ professionals where they will draw upon their combined three decades of experience to continue providing best-in-class solutions for credit unions.
Prior to Piper Sandler, Frazier worked at FHN Financial where he was vice president and senior loan specialist in the whole loan trading division. He will join the Piper Sandler Loan Strategies team where he will focus on working with the fixed income and investment banking groups to provide bank and credit union clients with loan participation and whole loan portfolio analysis and transactional support.
“Hiring talented people with decades of industry knowledge and deep expertise is a major part of how we will continue to gain market share and build a durable secondary fixed income revenue business,” said John Beckelman, head of fixed income at Piper Sandler. “We have built a proven, market-leading platform for banks and I can’t wait to see how this growing credit union team can leverage that same model to provide best-in-class solutions to our valued credit union clients.”
ABOUT PIPER SANDLER
Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and NYSE; in the U.K. through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through Piper Sandler Hong Kong Limited, authorized and regulated by the Securities and Futures Commission. Alternative asset management and fixed income advisory services are offered through separately registered advisory affiliates.
