Daryle DiLascia, former head of financial services capital markets at Piper Jaffray Cos., has joined Performance Trust Capital Partners LLC to lead the company's investment banking effort, according to a source familiar with the matter.
Performance Trust provides balance sheet management strategies and trading services to financial institutions, but the company moved into the investment banking business in 2012 with the hire of Dan Bass. Since then, the company has been expanding its investment banking business.
In September 2017, Performance Trust announced the hiring of Matthew Shields as managing director of equity capital markets. Other investment bankers the company has added include Jonathan Briggs, Katherine Lynch, Gary Penrose and Paul Stephens.
DiLascia joined Piper Jaffray in 2015 when the company significantly increased its exposure to the financial services space by hiring M&A advisory and equity capital markets personnel. Before Piper Jaffray, DiLascia was head of investment banking at Sterne Agee & Leach Inc. and led a buildup of the company's depository investment banking coverage after joining the company in 2012.
In 2015, Sterne Agee sold to Stifel Financial Corp. and many members of the target's financial institutions group moved to Piper Jaffray. Stifel in 2013 had purchased KBW LLC, a perennial leader in the depository investment banking sector, and did not want to add Sterne Agee's investment banking business because of overlap concerns.
Before going to Sterne Agee, DiLascia spent 17 years at KBW, where he served as executive vice president, co-head of equities and a member of KBW's executive committee.