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PIPER JAFFRAY RETIRES HOPWOOD NAME

 PIPER JAFFRAY RETIRES HOPWOOD NAME
 MINNEAPOLIS, April 13 /PRNewswire/ -- Nearly 40 years after Robert


Hopwood stopped working at Piper, Jaffray & Hopwood Incorporated, the Minneapolis-based investment firm today announced it will drop Hopwood from its legal name. Its new name, effective today, is Piper Jaffray Inc. (NYSE: PJC).
 Its parent company, Piper Jaffray Incorporated, also has changed its name to Piper Jaffray Companies Inc. and a new visual identity has been developed for the parent company and its subsidiaries.
 Robert Gaddis Hopwood became a partner in the firm in 1932 when his father's investment company, Hopwood & Company, was acquired by Lane, Piper & Jaffray, a forerunner of the current company.
 "Bob Hopwood was active in our company until his death in 1953 and we appreciated his many contributions to our business," explained Chairman and Chief Executive Officer Addison L. Piper. "We have at several times over the years, however, considered dropping the Hopwood name because the public and our clients refer to us simply as 'Piper Jaffray.' When we recently evaluated the names and logos of all of our subsidiaries, we decided this was an opportune time to make the change."
 The name changes reflect the broadening of the company's activities from its retail brokerage and capital markets businesses to include asset management and trust services. The company's stock now trades on the New York Stock Exchange under the symbol PJC.
 New logo shapes have been developed for the parent company, Piper Jaffray Companies, and its businesses -- Piper Jaffray Inc., its retail brokerage and capital markets arm; Piper Capital Management Incorporated, its asset management firm; and Piper Trust Company, its personal and institutional trust business. The new logos are rectangular with the names reversed out in white on Piper Jaffray blue ink.
 "As our subsidiaries have grown and gained recognition, we've reviewed our names and logos and modified them where appropriate to promote an image which better reflects and supports our strategic businesses," said Piper.
 Piper Jaffray Companies Inc. is the parent company of Piper Jaffray Inc., a full-service investment firm with 65 retail offices in 16 Midwest, Mountain and Pacific Northwest states. Piper Jaffray has capital markets offices in Minneapolis; New York; Seattle; Portland, Ore.; Los Angeles; Kansas City, Mo.; Denver; Des Moines, Iowa; and London. Other subsidiaries include Piper Capital Management Incorporated, an asset management company with more than $7 billion under management; and Piper Trust Company, which provides trust services to individuals and institutions. Founded in 1895, Piper Jaffray is a member of the New York Stock Exchange and other major stock, futures and options exchanges.
 /CONTACT: Marie Uhrich of Piper Jaffray Companies, 612-342-6583/
 -0- 4/13/92
 (PJC) CO: Piper Jaffray Companies ST: Minnesota IN: FIN SU: PER


MA -- MN001 -- 7605 04/13/92 09:25 EDT
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Publication:PR Newswire
Date:Apr 13, 1992
Words:459
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