Piper Sandler Companies · NYSE:PIPR
Piper Sandler Companies — Piper Jaffray Companies — Merger or Acquisition (February 2019)
9 slides from Piper Sandler Companies's merger presentation, February 2019
Slide 1: Piper Jaffray and Weeden & Co. Combination Builds a Market-Leading Equities Business
INVESTOR PRESENTATION FEBRUARY 2019 Piper Jaffray and Weeden & Co. Combination Builds a Market-Leading Equities Business For more information, please contact Tim Carter, chief financial officer at 612 303-5607 or timothy.l.carter@pjc.com Securities brokerage and investment banking services are offer
Slide 2: Cautionary Notice Regarding Forward-Looking Statements
Cautionary Notice Regarding Forward-Looking Statements This announcement contains forward-looking statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements. These forward-looking statements cover, among other
Slide 3: Combination builds a market-leading equities business
Combination builds a market-leading equities business Increase scale in equity sales & trading with access to a larger percentage of market wallet • Meaningful opportunity to increase market share as clients and sell-side firms consolidate around most relevant providers • Broad product capabilities
Slide 4: Weeden & Co.: A highly recognized equities execution firm
Weeden & Co. A highly recognized equities execution firm • 96-year-old firm with a strong culture, entrusted with trading since 1922 • Provides premier global trading solutions, specializing in best execution through the use of high-touch and program trading, proprietary algorithmic strategies and d
Slide 5: Transaction Highlights
Transaction Highlights • Piper Jaffray Companies (“PJC”) to acquire 100% of Weeden & Co., L.P. (“Weeden & Co.”), an Transaction execution broker-dealer for institutional clients • Prior to closing, Weeden & Co. will distribute 100% of excess capital to its shareholders • Total of $42MM, which includ
Slide 6: Financial Highlights
Financial Highlights Revenue • Weeden & Co. FY2018 gross revenues of $104MM and net revenues of $75MM, up 6% YOY • Non-GAAP compensation ratio for PJC is expected to be unchanged in 2019 as a result of this Expenses transaction • Non-compensation expenses expected to increase by $6.0mm per quarter p
Slide 7: Strategic Rationale
Strategic Rationale Combination builds a market-leading equities business Strong cultural overlap Significantly enhances high-touch trading platform Complementary execution product suite • Addition of algo trading, program trading, commission management and derivatives trading capabilities Complemen
Slide 8: Complementary Clients and Products Create a Scalable Platform
Complementary Clients and Products Create a Scalable Platform Combines Weeden’s highly ranked agency execution platform with Piper Jaffray’s strong research sales platform CLIENTS PRODUCTS • Complementary account revenue High Touch (Cash) Trading trends in an unbundling world Algo (No-Touch) Trading
Slide 9: Market Leadership in Equity Trading
Market Leadership in Equity Trading Weeden & Co. has ranked #1 in multiple categories for 15 consecutive years, according to the Greenwich Associates portfolio trading survey Minimizing Efficient Trade Capability Advising on Overall Portfolio Market Impact Settlement of Sales Implementation Trading
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