Piper Sandler Companies has appointed three new co-heads across its investment banking and capital markets divisions as part of its strategy to scale operations and deepen client relationships. Brandon Rice and Chad Huber join Peter Day as co-heads of the healthcare investment banking group, leveraging Rice’s track record advising on M&A and capital markets transactions for disruptive med-tech firms and Huber’s background originating equity financings for life sciences clients. Carlos Sanchez steps up to co-head consumer investment banking alongside Damon Chandik and Janica Lane, building on his role leading consumer M&A advisory. In equity capital markets, Paul Scansaroli becomes global co-head with David Stadinski, drawing on his experience executing growth-company IPOs and secondary offerings for healthcare investors. These changes reflect Piper Sandler’s growth trajectory, as the firm completed 45 healthcare transactions and 30 consumer deals last year, driving advisory revenue up 12%.

The healthcare team reorganization positions Piper Sandler to capture increased transaction volume in both public and private markets. Rice oversaw 18 healthcare M&A deals totaling over $4.2 billion in announced value during his tenure as managing director, while Huber executed more than 25 equity raises exceeding $3 billion for biotech clients as global co-head of ECM. Retaining Day ensures continuity in long-standing client relationships, including recent work on a $500 million convertible note issuance for a leading med-tech platform. Management expects these leaders to drive the next phase of healthcare bookings, which grew at a 15% compound annual rate over the past three years.

In consumer banking, Sanchez’s elevation rewards his role advising on transactions across food and beverage, apparel and direct-to-consumer retail, where his team closed $2.7 billion in deal value last fiscal year. Chandik and Lane will continue to expand the franchise’s footprint in brand carve-outs and sponsor-led buyouts. On the ECM side, Scansaroli’s promotion follows completion of 12 IPOs and follow-on offerings totaling $1.8 billion for growth-stage healthcare issuers, complementing Stadinski’s existing coverage of technology and industrial sectors. The combined ECM group generated equity capital markets fee revenue of $75 million in the latest quarter, up 9% year-over-year.

Piper Sandler is capitalizing on a resurgence in biotech fundraising, with IPO activity rising 40% year-to-date and follow-on offerings climbing 25%, bolstering its advisory and corporate finance divisions. The firm’s equity valuations in the life sciences sector support robust deal pipelines and renewed investor interest, while debt capital markets revenue remains stable despite a modest uptick in long-term rates. At a forward P/E multiple of 22x, Piper Sandler trades at a discount to peers such as Evercore, which sits at 26x, and is comparable to Lazard’s sub-20x multiple—offering investors a combination of relative valuation appeal and higher projected 12% annual revenue growth driven by its expanded leadership bench.