Piper Jaffray Hires Ex-Ceridian’s Harvey in Private-Equity Push

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Piper Jaffray Cos. hired Stuart Harvey as a partner in the merchant-banking team that manages private-equity investments as the group plans a new fund for next year.

Harvey was previously chief executive officer of Ceridian Corp. and led the sale of the Comdata subsidiary to payments firm Fleetcor Technologies Inc. last year for about $3.45 billion, Minneapolis-based Piper Jaffray said Monday in a statement. He previously worked for the investment bank as a managing director from 1993 to 2003.

Piper Jaffray, founded in 1895, has been adding equity sales and trading professionals, research analysts and investment bankers as CEO Andrew S. Duff boosts capital markets operations. The merchant-banking group closed a $100 million fund in 2012.

“Stuart has a proven track record for building successful companies,” Tom Schnettler, vice chairman of Piper Jaffray, said in the statement. “He will be highly valuable as we expand our portfolio.”

After leaving Piper Jaffray, Harvey ran a subsidiary of U.S. Bancorp and then joined Ceridian. He graduated from George Washington University Law School and has an MBA from Northwestern University’s  Kellogg School of Management, according to the statement.