Toronto-based Canadian Imperial Bank of Commerce (CIBC) has signed a deal with Piper Jaffray Cos. to serve as the exclusive distributor of the Minneapolis-based brokerage firm’s equities research in Canada.
Under the deal, CIBC will distribute equities research from Piper Jaffray to the Canadian market. The firm’s 40 analysts cover 750 companies in the consumer, energy, financial, health-care, industrial and technology sectors.
“While we previously marketed to Canadian clients directly, we are very pleased to be partnering with CIBC to deliver our highly rated research and analysts to a broader institutional client base,” says Jeff Klinefelter, global head of equities at Piper Jaffray, in a statement. “We look forward to expanding our research footprint by working with a best-in-class peer to further our efforts.”