UBS to Acquire Piper Jaffray Companies' Private Client Branch Network

The transaction also includes the assignment of a portfolio of client loans for approximately $300 million and an additional cash consideration of $75 million at closing, dependent on certain criteria and business thresholds being met.

Based in Minneapolis, Piper Jaffray has more than 800 financial advisors, 190,000 household relationships and total client assets of $52 billion. It provides wealth management services to private clients including estate planning, retirement planning, brokerage and insurance. Its business has nearly 90 branch offices located across 17 states.

Piper Jaffray’s Financial Advisors will be integrated into UBS Wealth Management US and will enhance UBS Wealth Management’s presence in the Midwest and western United States.

“This transaction is a natural fit with our current wealth management offering in the US,” said Marten Hoekstra, Head of UBS Wealth Management US. “This network of talented individuals will allow UBS to serve a broader base of clients. Piper Jaffray Financial Advisors and clients will gain access to one of the world’s leading wealth management platforms with an unrivalled reputation in the marketplace.”