Jeff Rosenkranz has stepped down as head of M&A for middle-market investment bank Piper Jaffray. No successor has been chosen.
I spoke with Rosenkranz earlier this evening, to better understand what happened. He says the decision was completely voluntary, and is in no way a reflection of dissatisfaction with Piper Jaffray.
“My children are getting older, and it began occurring to me that I’d like to spend time with them while they still like spending time with me,” he explained. “It was a very tough decision, but I pulled the ripcord and don’t regret it… I’ve been in this business for 22 years, and spent too much time on airplanes.”
I pressed the issue a bit, as “spending time with family” is a favorite refrain of the businessman with another job up his sleeve. But Rosenkranz says that his only future plans are to spend time with his family at the beach. And perhaps a bit of golf. “At this point I’ve had no conversations about another job,” he says.
At the time time, however, Rosenkranz hasn’t quite left his old life behind. He called me after landing in Boston, for a meeting with a Piper Jaffray client. “My son keeps telling me I’m a bad retirer,” Rosenkranz jokes. “It’s something I need to work on.”
Rosenkranz joined Piper Jaffray six years ago, after spending time with both Merrill Lynch and Bank of New York.