Piper Jaffray & Company has opened its new investment banking and research office in Shanghai.

"Our expansion into Shanghai is a key part of our overall growth initiative at Piper Jaffray enhancing our drive to be a leading international middle market investment bank and institutional securities firm," said Andrew Duff, chairman and chief executive officer of Piper Jaffray Companies. "We are thrilled to launch our first Piper Jaffray office in Shanghai, to serve our increasing number of Asian clients in our areas of industry expertise."

The new office is part of the firm's continued global expansion in Asia and Europe and will allow Piper Jaffray the opportunity to offer clients broadened international investment banking and research services.

Piper Jaffray & Co., has been active in the financial markets in Asia since 2000, having completed six IPO and follow-on transactions year-to-date and 20 transactions overall. The firm's first transaction for a company with China-based operations was a U.S. IPO for UTStarcom in 2000, which has been followed by transactions for other leading Chinese technology companies including: Baidu.com (BIDU), Ctrip.com (CTRP) and Tom Online (TOMO).