Piper Jaffray, an investment bank and asset management firm, has completed the acquisition BMO Capital Markets GKST, the municipal bond sales, trading and origination business of BMO Financial Group.
Piper Jaffray said that this acquisition will add depth and breadth to its institutional sales, trading and underwriting platform.
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The transaction is also expected to expand Piper Jaffray’s public finance presence in the Illinois market as well as boost its strategy and analytics capabilities as it continues to build out its financial institutions franchise.
Financial terms of the acquisition have not been disclosed. This deal follows Piper Jaffray’s acquisition of River Branch Holdings in July 2015.
Piper Jaffray chairman and CEO Andrew Duff said: "We are pleased to welcome GKST to our firm. As we bring our talented teams and capabilities together, we will provide broader and stronger fixed income offerings for clients, while expanding our presence in the Chicago market."
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