Piper Jaffray Companies, the US-based financial services firm, has appointed Robert Peterson as head of its private client services business...

Piper Jaffray Companies, the US-based financial services firm, has appointed Robert Peterson as head of its private client services business. He replaces Paul Grangaard, who is leaving to join a private equity firm, according to a statement from Piper. Mr Peterson joined the Minneapolis-based Piper Jaffray in 1993, was the head of equity research from 2000 to 2003, and has been head of investment research at Piper Jaffray since 2003. Piper’s private client services group manages client assets of $51 billion. In the second half of 2004, the unit began growing its ranks of advisors, finishing the year at 860.