Case | HBS Case Collection | October 2005

Tad Piper and Piper Jaffray

by William W. George and Andrew N. McLean


In 2005, Tad Piper reflects on the successful spin-off from US Bancorp of Piper Jaffray, the investment bank founded by his grandfather. Profiles the development of Piper Jaffray from a Midwestern brokerage house to a national, diversified financial services firm. In 1994, a crisis in its mutual fund unit nearly destroyed the firm. Provides information about the protagonist's youth, career, family life, aspirations, and motivations. Raises questions about leadership in times of crisis, openness with stakeholders, and the value of showing vulnerability as an authentic leader.

Keywords: Crisis Management; Leadership Style; Management Style; Leadership; Growth and Development Strategy; Financial Services Industry;


George, William W., and Andrew N. McLean. "Tad Piper and Piper Jaffray." Harvard Business School Case 406-033, October 2005.