U.S. Bancorp Piper Jaffray, the investment banking subsidiary of Minneapolis' U.S. Bancorp, has hired Kristian P. Sorensen as managing director of its San Francisco office. He succeeded Doug Heske, who was recently named California regional director for the U.S. Bancorp unit.

Mr. Sorensen has 20 years' experience in the financial services industry. He came to U.S. Bancorp Piper Jaffray from Wells Fargo & Co.'s private client services division, in which he was senior vice president. Mr. Sorensen was the division's national director of sales development and had developed its brokerage unit.

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