Bank equity research analyst William Curtiss is departing from Piper Jaffray Cos. and is expected to join Hovde Group LLC, according to a source familiar with the matter.

Officials at Piper Jaffray and Hovde did not respond to requests for comment. Curtiss has agreed to join Hovde after completion of his garden leave, according to the source.

Curtiss started with Piper Jaffray in 2016 and his role expanded in 2017 when analyst Peyton Green moved to the investment banking side of the business. Before Piper, Curtiss was an analyst at SunTrust Robinson Humphrey Inc., and earlier in his career, he was in the equity research department at Sandler O'Neill & Partners LP.

Hovde's director of research, Joseph Fenech, also worked at Sandler O'Neill earlier in his career. Along with Fenech, Hovde's publishing analysts include Brian Zabora and Kevin Swanson.

With Piper Jaffray, Curtiss was based in Nashville, Tenn., and his coverage focused on banks in the Southeast. His coverage universe included Ameris Bancorp, BancorpSouth Bank, Bank OZK, First Bancorp, First Horizon National Corp., Franklin Financial Network Inc., Hancock Whitney Corp., Home BancShares Inc., IBERIABANK Corp., Investar Holding Corp., Pinnacle Financial Partners Inc., Simmons First National Corp., South State Corp., Synovus Financial Corp. and TowneBank.