Daily News: December 6, 2017

Piper Jaffray Names Abraham CEO, Schoneman President

Piper Jaffray named Chad Abraham CEO and Deb Schoneman president, effective January 1, 2018 upon the retirement of current chairman and CEO Andrew Duff. Abraham is currently the firm’s global co-head of investment banking and capital markets and Schoneman is currently the CFO and global head of equities.

Duff will remain chairman of the Piper Jaffray board. He has held the CEO position since 2000. During his tenure, Piper Jaffray increased operating profits and shareholder return by 140% and 250%, respectively, and added offices across the U.S. and globally.

Schoneman will take over from president and COO Stuart C. Harvey, Jr., who voluntarily resigned from his positions. Piper Jaffray and Harvey mutually determined that they had different approaches to strategy and leadership.

“We thank Andrew for his exceptional contributions over the course of his 37-year career at Piper Jaffray. Our firm has made tremendous strides under his leadership,” Abraham said. “Today, our business continues to gain share in the market and the quality of our people and our platform is unmatched. I am honored to lead this firm alongside Deb.”

Abraham joined Piper Jaffray in 1991 as an investment banking analyst. He spent the next 13 years on the West Coast as a banker in the company’s technology investment banking group. He was promoted to managing director and head of technology investment banking in 1999. In 2005, he was promoted to head of capital markets and in 2010, he became the global co-head of investment banking and capital markets.

Schoneman, who joined Piper Jaffray in 1990, has held various senior management positions, including finance director of both equity and fixed income capital markets, as well as treasurer. Schoneman was named CFO in 2008, overseeing the firm’s financial health through the 2008 financial crisis and leading it to its strong position today.

Tim Carter will assume the CFO position from Schoneman.