Kepler Cheuvreux has signed an agreement with US investment bank, Piper Jaffray, for the distribution of equity research across Europe and the US.
The deal will see Piper Jaffray distribute US equity research in Europe and assist Kepler Cheuvreux with the distribution of European equity research in the US.
Both parties said the initial partnership is founded on equity research distribution, but it could be expanded to other business areas.
Kepler Cheuvreux will work alongside the existing Piper Jaffray sales teams in Europe to distribute Piper Jaffray research to the UK and continental European clients.
Piper Jaffray’s sales teams will act as US product specialists and be Kepler Cheuvreux’s execution partner for US equities.
Laurent Quirin, CEO of Kepler Cheuvreux, explained the partnership builds on a similar, existing distribution agreement with Asia-Pacific broker CIMB.
“We are now able to offer our European clients coverage of over 2,200 stocks… We are eager to expand our client coverage in the US and assist Piper Jaffray with their expansion in Europe,” he said.
Jeff Klinefelter, global head of equities at Piper Jaffray, added the agreement will help the broker increase its presence in Europe.
“With Kepler Cheuvreux’s expansive client relationships, multi-local European presence and high market share, our products will receive increased visibility in Europe,” he explained.
Piper Jaffray’s equity research group consists of 40 senior analysts covering 750 companies in the consumer, energy, financial institutions, healthcare, industrials and technology sectors.
Kepler Cheuvreux currently offers coverage on 736 European stocks, increasing coverage for both firms to over 1,480 companies as a result of the partnership.