Piper, Jaffray & Hopwood, a Minneapolis-based investment bank, announced it has promoted Francis E. Fairman to manager of public finance.

Mr. Fairman, a managing director and employee of the firm for eight years, will be responsible for Piper's offices in Minneapolis; Seattle; Kansas City, Mo.; Denver; Los Angeles; Des Moines; and Great Falls, Mont.

"Frank is a very creative and diligent individual who has been very effective at finding ways to meet our clients' needs," said Duke V. Steenson, managing director and director of Piper Jaffray's fixed-income capital markets. "His contributions have been invaluable in helping us to continue to be a leader in the public finance markets."

The firm noted in a statement that Mr. Fairman was responsible for creating the Iowa school cash anticipation programs, which have sold over $1 billion of notes since 1985.

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