Piper Sandler (PIPR) is a public company. Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Founded in 1895, the firm is headquartered in Minneapolis with more than 60 offices across the U.S. and in London, Aberdeen, Zurich, Munich, Abu Dhabi and Hong Kong. We offer a full suite of products to serve our clients’ business life cycle needs, geographic reach in an increasingly global market, and deep expertise in our core sectors. Learn more at PiperSandler.com.

Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and NYSE; in the U.K. through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Authority; in the EU through Aviditi Capital Advisors Europe GmbH, a tied agent of AHP Capital Management GmbH, authorized and regulated by BaFin; in the Abu Dhabi Global Market through Piper Sandler MENA Ltd., authorized and regulated by the ADGM Financial Services Regulatory Authority; and in Hong Kong through Piper Sandler Hong Kong Ltd., authorized and regulated by the Securities and Futures Commission. Alternative asset management and fixed income advisory services are offered through separately registered advisory affiliates. Founded in 1895. It has 2,112 employees.

Transcript

Operator

Good morning, welcome to Piper Sandler Companies' second quarter 2026 earnings conference call. Today's call is being recorded and will include remarks by Piper Sandler management, followed by a question and answer session. I'll begin by turning the call over to Kate Winslow. Please go ahead.

Kate Winslow — Head of Investor Relations

Thank you, operator. Good morning, thank you for joining Piper Sandler Companies' second quarter 2026 earnings conference call. Hosting the call today are Chairman and CEO, Chad Abraham, our President, Deb Schoneman, and CFO, Kate Clune. Earlier this morning, we issued a press release announcing Piper Sandler's second quarter 2026 financial results, which is available on our website at pipersandler.com/earnings. Today's discussion of the results is complementary to the press release. A replay of this call will also be available at that same website later today. Before we begin, let me remind you that