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Tad Piper and Piper Jaffray (Historical Timeline (1913 (HC Piper…
Tad Piper and Piper Jaffray
strategies
use of high-risk derivatives
aggressive marketing
hiring competent individuals
public relations strategies
mergers & acquisitions
challenges
increased media attention
increased competition
investor lawsuits
poor performance/crisis in 1994
Key Personalities
Addison Tad Piper
Vice chairman of board
Worth Bruntjen
Star bond trader from Aliiance Capital in Minneapolis
Richard Lockridge
Minneapolis' attorney
Jack Grundhofer
CEO of Bancorp in Minneapolis
Jerry Grundhofer
Younger brother of US Bancorp's CEO
Andrew Duff
Named CEO & Chairman in 2003
Piper Jaffray is the US firm at the center of the case study
Key Organization
Firstar Inc
Acquired US Bancorp in late 2000
Historical Timeline
1913
HC Piper collaborated with Palmer to sell commercial paper
1917
Company acquired George B. Laro & Co.
1945
Piper Jaffray began expanding Westward
1967
HC Piper stepped aside
1969
Piper joined company as assistant syndicate manager
1971
company went public
1983
Piper named CEO
1988
Piper became company chairman until January 2003
1990
Bobby Piper died of cancer
1991
Tad Piper acknowledged he had drinking problem
1992
Company listed on New York Stock Exchange
1993
Piper Funds attracted more than $12 billion in investments from clients
1994
Piper led firm through worst crisis
1997
Piper engineered the sale of Piper Jaffray to US Bancorp
1997
Bruntjen resigned from company
1999
Tad Piper retired as CEO & handed leadership to Andrew Duff
2000
2003
Participated in subsequent spin-off as independently held-company
2005
Piper had a more measured perspective after overseeing tremendous growth of the company