About Piper Sandler Companies

Piper Sandler Companies operates as an investment bank and institutional securities company. The company serves the needs of corporations, private equity groups, public entities, non-profit entities and institutional investors in the United States (U.S.) and internationally. The company provides a broad set of products and services, including financial advisory services; equity and debt capital markets products; public finance services; institutional brokerage services; fundamental equity and macro research services; fixed income services; and alternative asset management strategies. The company has offices across the U.S. and international locations in London, Aberdeen and Hong Kong. Business The company operates in one reportable segment providing investment banking services, institutional sales and trading services for various equity and fixed income products, and research services. The company is organized as one reportable segment in order to maximize the value it provides to clients by leveraging its diversified expertise and broad relationships of the experienced professionals across it. Investment Banking For its corporate clients and financial sponsors, the company provides advisory services, which includes mergers and acquisitions (M&A); equity and debt private placements; and debt and restructuring advisory. The company also helps raise capital through equity and debt financings. The company operates in the following focus sectors: healthcare; financial services; energy and power; services and industrials; consumer; technology; and chemicals, primarily focusing on middle-market clients. For its government and non-profit clients, the company underwrites municipal issuances, provide municipal financial advisory and loan placement services, and offer various over-the-counter derivative products. The company's public finance investment banking capabilities focus on state and local governments, cultural and social service non-profit entities, special districts, project finance, and the education, healthcare, hospitality, senior living, housing and transportation sectors. Equity and Fixed Income Institutional Brokerage The company offers both equity and fixed income advisory and trade execution services for institutional investors, corporations, and government and non-profit entities. Integral to its capital markets efforts, the company has equity sales and trading relationships with institutional investors in North America and Europe that invest in its core sectors. The company's fundamental equity research analysts provide investment ideas and support to its trading clients on approximately 1,000 companies. The company's macro research teams provide a comprehensive overview of global trends, such as economic and energy trends, as well as policy actions and political developments. Fixed income services provides advice on balance sheet management, investment strategy and customized portfolio solutions. The company provides fixed income sales and trading solutions to banks, registered investment advisors, public entities, credit unions, asset managers, and insurance companies. The company principally engages in trading activities to facilitate customer activity. Alternative Asset Management Funds The company has created alternative asset management funds in merchant banking and healthcare in order to invest firm capital and to manage capital from outside investors. Regulation The company's U.S. broker dealer subsidiary (Piper Sandler & Co.) is registered as a securities broker dealer with the Securities and Exchange Commission (SEC) and is a member of various self-regulatory organizations (SROs) and securities exchanges. In addition, Piper Sandler & Co. is licensed as a broker dealer in each of the 50 states, requiring the company to comply with applicable laws, rules and regulations of each state. The Financial Industry Regulatory Authority, Inc. (FINRA) regulates many aspects of the company's U.S. broker dealer business, including registration, education and conduct of its broker dealer employees, examinations, rulemaking, enforcement of these rules and the federal securities laws, trade reporting and the administration of dispute resolution between investors and registered firms. The company also operates one entity that is authorized, licensed and regulated by the U.K. Financial Conduct Authority and registered under the laws of England and Wales, as well as an entity that is authorized, licensed and regulated by the Hong Kong Securities and Futures Commission and registered under the laws of Hong Kong. The Financial Conduct Authority of the U.K. and the Hong Kong Securities and Futures Commission regulate these entities (in their respective jurisdictions) in areas of capital adequacy, customer protection and business conduct, among others. The company also has a subsidiary organized in Guernsey and regulated by the Guernsey Financial Services Commission (GFSC). Piper Sandler & Co. is subject to the USA PATRIOT Act of 2001, which contains anti-money laundering and financial transparency laws and mandates the implementation of various regulations requiring the company to implement standards for verifying client identification at the time the client relationship is initiated, monitoring client transactions and reporting suspicious activity. The company's entities in Hong Kong, the United Kingdom and Guernsey are subject to similar anti-money laundering laws and regulations in those jurisdictions. The company is also subject to the U.S. Foreign Corrupt Practices Act, as well as other anti-bribery laws in the jurisdictions in which it operates. The company maintains subsidiaries that are registered as investment advisors with the SEC and subject to regulation and oversight by the SEC. PSC Capital Partners LLC, Piper Sandler Advisors LLC, Piper Heartland Healthcare Capital LLC and Piper Sandler Finance Management LLC are asset management subsidiaries and registered investment advisors. As registered investment advisors, these entities are subject to requirements that relate to, among other things, fiduciary duties to clients, maintaining an effective compliance program, solicitation agreements, conflicts of interest, financial and electronic recordkeeping and reporting requirements, disclosure requirements, limitations on agency cross and principal transactions between advisor and advisory clients, as well as general anti-fraud prohibitions. Piper Sandler & Co. is also a registered investment advisor and subject to these requirements. Parallel General Partners Limited is the general partner of several private equity limited partnerships; it and the limited partnerships are registered and regulated by the GFSC. Intellectual Property The Piper Sandler logo and the other trademarks, tradenames and service marks of the company, including but not limited to, PIPER SANDLER, PIPER JAFFRAY, REALIZE THE POWER OF PARTNERSHIP, CORNERSTONE MACRO, SIMMONS ENERGY | A DIVISION OF PIPER SANDLER, SIMMONS ENERGY | A DIVISION OF PIPER JAFFRAY, SIMMONS ENERGY, SIMMONS & COMPANY INTERNATIONAL, SIMMONSCO-INTL, PIPER SANDLER FINANCE, BIOINSIGHTS, TAKING STOCK WITH TEENS, HEALTHY ACTIVE AND SUSTAINABLE LIVING and GUIDES FOR THE JOURNEY, are the property of the company. History The company was founded in 1895. It was incorporated in 2003. The company was formerly known as Piper Jaffray Companies and changed its name to Piper Sandler Companies in 2020.