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Piper Sandler acquires TRS Advisors, creates restructuring group

Thursday, December 31, 2020
Opalesque Industry Update - Piper Sandler Companies, a leading investment bank, today announced that it has completed the acquisition of TRS Advisors. TRS Advisors and its senior bankers have been integral to some of the most complex restructuring transactions in public, private, and government settings. TRS Advisors will operate as Piper Sandler's restructuring group and will be led by 30-year veteran restructuring banker Todd R. Snyder.

Piper Sandler was advised by Faegre Drinker Biddle & Reath LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to TRS Advisors in connection with the transaction.

TRS Advisors was founded by 30-year veteran restructuring banker Todd R. Snyder. Before founding TRS, Snyder was executive vice chairman of Rothschild & Co. and co-head of the North American restructuring advisory business. Previously, he was a managing director in the restructuring and reorganization group at Peter J. Solomon Company. The team is comprised of 12 bankers including five managing directors. Following the acquisition, Todd Snyder will be named global head of restructuring.

"We are thrilled to partner with TRS Advisors and combine our strong investment banking relationships across multiple industry sectors with their expertise advising in complex matters," said James Baker, global co-head of investment banking at Piper Sandler. "Todd and the TRS organization are among the most seasoned restructuring teams on Wall Street, having advised on some of the largest and most complicated assignments over the past 20 years."

"Aligning our businesses is an exciting opportunity to combine the strength and breadth of Piper Sandler's industry expertise and reach with TRS Advisors' culture of professional and restructuring excellence," said Todd Snyder, founder and CEO of TRS Advisors.

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