Piper Jaffray Companies announced that Andrew Gitkin joined the firm as managing director and head of West Coast biotechnology investment banking. Gitkin will be based in the firm's San Francisco office. Gitkin brings nearly 20 years of healthcare financial services experience to Piper Jaffray. He joins the firm from Moelis & Co., where he was a senior investment banker in the life sciences investment banking group. Gitkin's prior experience includes positions in investment banking, equity research and asset management. Gitkin has been recognized as part of the Institutional Investor All-America team on numerous occasions for his prior research coverage of biotechnology, healthcare services, medical supplies and technology. He is a graduate of Emory University in Atlanta.

Piper Jaffray has named Romy McCarthy as a Managing Director in its public finance investment banking group. McCarthy is based in the firm's Milwaukee office, focused on clients in the healthcare and senior living sectors. She joins the firm from Ziegler, where she spent 19 years as a public finance investment banker within the healthcare and senior living groups. McCarthy has specialised in both hospital and senior living finance in the Midwest region.

Piper Jaffray Companies reported unaudited earnings results for the first quarter ended Mar. 31, 2013. Net income from continuing operations was $10.7 million, or $0.60 per diluted common share. These results compared to net income from continuing operations of $6.2 million, or $0.33 per diluted common share, in the year-ago period, and $15.6 million, or $0.88 per diluted common share, in the fourth quarter of 2012. For the first quarter of 2013, net revenues from continuing operations were $109.5 million, compared to $113.4 million in the year-ago period and $140.9 million in the sequential fourth quarter. The sequential decline, primarily, was attributable to lower revenue in advisory business. However, due to efforts last year to streamline business, the company produced solidly profitable results that generated an ROE of 5.5% compared to 1.6% a year ago. For the quarter ended March 31, 2013, net income, including continuing and discontinued operations, was $10.1 million, or $0.57 per diluted common share, compared to net income of $2.9 million, or $0.15 per diluted common share, in the year-ago period, and $11.8 million, or $0.67 per diluted common share, in the fourth quarter of 2012. Income from continuing operations before income tax expense was $18.168 million against $15.22 million a year ago. Net income applicable to company‘s common shareholders was $8.966 million against $2.480 million a year ago. Earnings per diluted common share was $0.57 against $0.15 per share a year ago. Pretax operating margin was 16.6%.