Piper Jaffray Inc., Minneapolis, has named Paul P. Karos director of equity capital markets. Mr. Karos will join the firm's management committee and lead its equity capital markets operating committee.

He succeeds Bruce C. Huber, who is leaving for health reasons.

Mr. Karos has been Piper Jaffray's director of institutional equity sales since June 1996, when he returned to the firm after a hiatus. He first joined Piper Jaffray in 1981 and was a research analyst specializing in the airline industry.

In 1986 he joined L.F. Rothschild & Co. in New York as an airline research analyst. Two years later he became a partner at Credit Suisse First Boston.

Last year Piper Jaffray added investment banking offices in Menlo Park, Calif., and Chicago, roughly doubling the number of equity research analysts to 60 and investment bankers to 90.

Piper Jaffray is a unit of U.S. Bancorp, Minneapolis.

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