Jacquin and Hutchinson Join U.S. Bancorp Piper Jaffray's Technology And Communications Mergers and Acquisitions Group

Newly Hired Bankers Foresee Significant Consolidation Within the Technology

And Communications Sectors



Apr 25, 2001, 01:00 ET from U.S. Bancorp Piper Jaffray Inc.

    SAN FRANCISCO, April 25 /PRNewswire/ -- U.S. Bancorp Piper Jaffray has
 strengthened its mergers and acquisitions (M&A) practice with the addition of
 David M. Jacquin and Jason "Hutch" Hutchinson to its technology and
 communications M&A group.  Jacquin will head up the firm's technology and
 communications M&A group.
     Prior to joining U.S. Bancorp Piper Jaffray, both Jacquin and Hutchinson
 were managing directors at Merrill Lynch & Co., in San Francisco, focused on
 technology M&A.  They bring 25 years of combined M&A experience to the firm.
 Given the current position of the technology sector cycle, Jacquin expects
 continued consolidation within the technology and communications sectors.
     "Having witnessed the evolution of the technology and communications
 sectors in recent years, we believe they are areas to watch for M&A activity
 in 2001," said Jacquin.  "In our opinion, the turbulent capital markets will
 continue to create a window for acquirers to make opportunistic and strategic
 acquisitions in the software and communications equipment sectors."
     Jacquin and Hutchinson came to U.S. Bancorp Piper Jaffray because of its
 culture and commitment to being a top growth company investment bank.  They
 were additionally drawn to the firm's acknowledged M&A practice.  U.S. Bancorp
 Piper Jaffray was named "Middle Market Mergers and Acquisitions Bank of the
 Year," according to Mergers & Acquisitions magazine's annual "Best in M&A
 Awards" issue, which appeared in February, 2001.
     "With the increased M&A activity in the investment banking industry in
 recent years, banks previously committed to 'growth companies' have ultimately
 switched their focus to large-cap companies," said Jacquin.  "Hutch and I are
 excited to have joined U.S. Bancorp Piper Jaffray, a firm that has kept its
 platform focus and, in the meantime, built an industry-recognized M&A
 practice."
     "Dave and Hutch come to U.S. Bancorp Piper Jaffray with years of
 outstanding M&A experience," said Paul Grangaard, head of investment banking
 at U.S. Bancorp Piper Jaffray.  "They will enhance our ability to add value to
 our technology and communications clients as they pursue growth through
 strategic integration."
     Prior to joining Merrill Lynch & Co., Jacquin was a managing director of
 Montgomery Securities M&A group in San Francisco.  He also specialized in
 mergers and acquisitions while practicing corporate and securities law with
 Cravath, Swaine & Moore in London and New York.  Hutchinson was a managing
 director of Montgomery Securities M&A group in San Francisco before joining
 Merrill Lynch & Co.  In addition, he previously practiced law with King &
 Spalding's M&A group in Atlanta, Ga.
     U.S. Bancorp Piper Jaffray, a subsidiary of Minneapolis-based
 U.S. Bancorp (NYSE:   USB), provides a full range of investment products and
 services to businesses, institutions and individuals.  The company's
 investment banking business has grown exponentially in the last several years
 by focusing on the needs of growth companies in the health care, technology,
 financial institutions, consumer and industrial growth sectors.  U.S. Bancorp
 Piper Jaffray has a national reputation for its expertise in fundamental
 research and equity and debt financing.  U.S. Bancorp offers a comprehensive
 range of financial solutions through U.S. Bank, First American Asset
 Management, U.S. Bancorp Investments and its Libra Division and U.S. Bancorp
 Piper Jaffray.  Securities products and services offered through U.S. Bancorp
 Piper Jaffray, Inc., member SIPC and NYSE, Inc., a subsidiary of U.S. Bancorp.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X21438877
 
 

SOURCE U.S. Bancorp Piper Jaffray Inc.
    SAN FRANCISCO, April 25 /PRNewswire/ -- U.S. Bancorp Piper Jaffray has
 strengthened its mergers and acquisitions (M&A) practice with the addition of
 David M. Jacquin and Jason "Hutch" Hutchinson to its technology and
 communications M&A group.  Jacquin will head up the firm's technology and
 communications M&A group.
     Prior to joining U.S. Bancorp Piper Jaffray, both Jacquin and Hutchinson
 were managing directors at Merrill Lynch & Co., in San Francisco, focused on
 technology M&A.  They bring 25 years of combined M&A experience to the firm.
 Given the current position of the technology sector cycle, Jacquin expects
 continued consolidation within the technology and communications sectors.
     "Having witnessed the evolution of the technology and communications
 sectors in recent years, we believe they are areas to watch for M&A activity
 in 2001," said Jacquin.  "In our opinion, the turbulent capital markets will
 continue to create a window for acquirers to make opportunistic and strategic
 acquisitions in the software and communications equipment sectors."
     Jacquin and Hutchinson came to U.S. Bancorp Piper Jaffray because of its
 culture and commitment to being a top growth company investment bank.  They
 were additionally drawn to the firm's acknowledged M&A practice.  U.S. Bancorp
 Piper Jaffray was named "Middle Market Mergers and Acquisitions Bank of the
 Year," according to Mergers & Acquisitions magazine's annual "Best in M&A
 Awards" issue, which appeared in February, 2001.
     "With the increased M&A activity in the investment banking industry in
 recent years, banks previously committed to 'growth companies' have ultimately
 switched their focus to large-cap companies," said Jacquin.  "Hutch and I are
 excited to have joined U.S. Bancorp Piper Jaffray, a firm that has kept its
 platform focus and, in the meantime, built an industry-recognized M&A
 practice."
     "Dave and Hutch come to U.S. Bancorp Piper Jaffray with years of
 outstanding M&A experience," said Paul Grangaard, head of investment banking
 at U.S. Bancorp Piper Jaffray.  "They will enhance our ability to add value to
 our technology and communications clients as they pursue growth through
 strategic integration."
     Prior to joining Merrill Lynch & Co., Jacquin was a managing director of
 Montgomery Securities M&A group in San Francisco.  He also specialized in
 mergers and acquisitions while practicing corporate and securities law with
 Cravath, Swaine & Moore in London and New York.  Hutchinson was a managing
 director of Montgomery Securities M&A group in San Francisco before joining
 Merrill Lynch & Co.  In addition, he previously practiced law with King &
 Spalding's M&A group in Atlanta, Ga.
     U.S. Bancorp Piper Jaffray, a subsidiary of Minneapolis-based
 U.S. Bancorp (NYSE:   USB), provides a full range of investment products and
 services to businesses, institutions and individuals.  The company's
 investment banking business has grown exponentially in the last several years
 by focusing on the needs of growth companies in the health care, technology,
 financial institutions, consumer and industrial growth sectors.  U.S. Bancorp
 Piper Jaffray has a national reputation for its expertise in fundamental
 research and equity and debt financing.  U.S. Bancorp offers a comprehensive
 range of financial solutions through U.S. Bank, First American Asset
 Management, U.S. Bancorp Investments and its Libra Division and U.S. Bancorp
 Piper Jaffray.  Securities products and services offered through U.S. Bancorp
 Piper Jaffray, Inc., member SIPC and NYSE, Inc., a subsidiary of U.S. Bancorp.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X21438877
 
 SOURCE  U.S. Bancorp Piper Jaffray Inc.

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