Piper Jaffray Expands Aircraft Finance Team to Significantly Enhance Structured Finance Expertise
September 02 2008 - 2:38PM
Business Wire
Piper Jaffray & Co. has expanded its aircraft finance team to
strengthen its industry-leading aircraft finance business. The new
additions to the team include Doug Runte, Scott Sodokoff, Dan Reese
and John Covello, who will add substantial depth, breadth and an
increased level of client service to the firm�s foundation of
structured analytics expertise. Altogether, they bring nearly 50
years of experience in structured finance products from prominent
firms on Wall Street, including Bear Stearns, Morgan Stanley, RBS
Greenwich Capital and UBS, to Piper Jaffray. �This team brings
significant knowledge of the airline industry to the firm, which
complements our existing business in aviation-related structured
products,� said Ben May, managing director and head of fixed income
services. �The expansion of this team will allow us to broaden our
expertise into airline credit default swaps, airport facility bonds
and other loan products.� Runte has more than 15 years of
experience in fixed income, providing coverage of airlines and
aircraft-backed securities, airline special facility bonds,
aerospace and defense, and other industry sectors. He joins Piper
Jaffray as a managing director and senior analyst in fixed income
analytics in New York. He was previously a managing director at RBS
Greenwich Capital where focused on the transportation sector, as
well as airline debt and aircraft-backed securities, such as
enhanced equipment trust certificates (EETCs). Runte has been
consistently ranked by Institutional Investor magazine as a top
analyst in the transportation sector in its annual survey of major
institutional investors. He graduated magna cum laude with a
bachelor�s degree from Duke University, holds a Master of Business
Administration degree with a concentration in finance from the
Kellogg School of Management at Northwestern University and is a
CFA Charterholder. With more than 21 years of transactional
experience as a senior trader, desk and group head in the credit
fixed income market, Sodokoff joins Piper Jaffray as a managing
director and senior trader in the New York office. He was
previously a managing director and senior trader at Bear Stearns
& Co. Inc. where he focused on EETCs, project finance and
credit-enhanced structures. He held similar roles at UBS Investment
Bank and Prudential Securities Inc., focusing on credit-enhanced
vehicles. Sodokoff earned a bachelor�s degree from Dartmouth
College. Reese rejoins the aircraft finance team as a senior desk
analyst in Minneapolis to expand the team�s expertise in
aviation-related securities and strategic opportunities. He was
previously a vice president and research analyst at Piper Jaffray
where he focused on aircraft asset-backed securitizations (ABS),
EETCs and other structured finance sectors, and spent several years
providing analysis of the structured finance market, helping to
build the firm�s original aircraft sector expertise. Reese
graduated cum laude with a bachelor�s degree from St. Olaf College.
Covello has more than 12 years of trading experience and previously
worked at Bear Stearns for more than 10 years. At Piper Jaffray, he
supports the aircraft finance team as a trader in the New York
office where he focuses primarily on secured airline debt, energy
project debt and private placements. He has also coordinated retail
and institutional sales with the institutional trading desk.
Covello holds a bachelor�s degree in banking and finance from
Hofstra University. About Piper Jaffray Piper Jaffray Companies
(NYSE: PJC) is a leading, international middle-market investment
bank and institutional securities firm, serving the needs of
middle-market corporations, private equity groups, public entities,
nonprofit clients and institutional investors. Founded in 1895,
Piper Jaffray provides a comprehensive set of products and
services, including equity and debt capital markets products;
public finance services; mergers and acquisitions advisory
services; high-yield and structured products; institutional equity
and fixed-income sales and trading; and equity and high-yield
research. With headquarters in Minneapolis, Piper Jaffray has 25
offices across the United States and international locations in
London, Hong Kong, and Shanghai. Piper Jaffray & Co. is the
firm's principal operating subsidiary.
(http://www.piperjaffray.com) � 2008 Piper Jaffray & Co., 800
Nicollet Mall, Suite 800, Minneapolis, Minnesota 55402-7020
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