Commentary

Marianne Brown
Traders Magazine Online News

The Surprising Factor Financial Firms Need to Invest in To Accelerate Growth

When it comes to people, a firm's success relies on more than just the top contributors to the bottom line, according to FIS. In its latest report, shared with Traders Magazine, the firm says it actually found firms that are prioritizing investments in digital expertise are growing nearly twice as fast as their peers.

Traders Poll

In your opinion, what is the biggest hurdle facing the blockchain?

Cost of implementation

17%

Too many systems available

23%

Not applicable to my business

3%

Uncomfortable with the technology

33%

Nobody else is using it

23%

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December 1, 2002

A Journey to the West

By Peter Chapman

Piper Jaffray isn't the only trading house in Minneapolis to set its sights on San Francisco. In fact, it isn't the only trading house in its building to do so.

ThinkEquity is a brand new brokerage that trades out of the Piper Jaffray Tower in downtown Minneapolis. Founded last year in San Francisco by a group from Merrill Lynch, it is targeting the growth space.

The small firm's progress has not been smooth: a merger with Minneapolis' Craig-Hallum failed and its sole sales trader in San Francisco quit. That said, its head trader is still optimistic. "The mindset here is one of excitement," said Rob McClanahan. "We're building a business."

ThinkEquity is actively seeking sales traders for its San Francisco office and is even considering building a Nasdaq desk there. Most of the trading talent is on either coast, explains McClanahan, and is reluctant to move.