Piper Sandler's roots can be traced back to 1895 when George Lane established George B. Lane, Commercial Paper and Collateral Loans & Co., a
commercial paper brokerage, in
Minneapolis. In 1913, Piper, Jaffray & Co. was established as another commercial paper business by H.C. Piper Sr. and Clive Palmer Jaffray. In 1917, George B. Lane & Co. merged with Piper, Jaffray & Co. to form Lane, Piper & Jaffray. The firm first obtained a seat on the New York Stock Exchange in 1931 with the acquisition of Hopwood & Company, which had been devastated by the
stock market crash. Later, in 1986, Piper's common stock began trading on the
NASDAQ under the ticker symbol PIPR. In 1992, the name of the broker-dealer changed from Piper Jaffray & Hopwood Incorporated to Piper Jaffray Inc. in a stock dividend to its shareholders, making the company independent once again under the symbol PJC. In 2006, the company sold its brokerage business to
Zurich-based
UBS for $510 million in cash. The business had approximately 800 brokers at that time. == Acquisition history ==