Piper Jaffray Cos. swung to a fourth-quarter net loss — its fourth-straight quarterly deficit — on $146.3 million in charges related to its capital-markets business and severance costs.

Revenue also plunged at the middle-market investment bank and institutional securities company amid scant activity in the initial-public-offering and mergers businesses.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.