POWER OF ATTORNEY



This statement confirms that I have authorized and designated John W.

Geelan, James Grant and Melissa D. Richason, and each of them, as my

attorney-in-fact to execute and file on my behalf all Forms 3 (Initial

Statement of Beneficial Ownership of Securities), Forms 4 (Statement of

Changes in Beneficial Ownership of Securities) and Forms 5 (Annual

Statement of Changes in Beneficial Ownership), including any and all

amendments thereto, that I may be required to file with the Securities

and Exchange Commission as a result of my ownership of or transactions in

securities of Piper Jaffray Companies.  This power of attorney shall

continue in effect until I am no longer required to file Forms 4 and 5

with regard to my ownership of or transactions in securities of Piper

Jaffray Companies, unless I earlier revoke this power of attorney in a

writing delivered to the above-named attorneys-in-fact.  I acknowledge

that the above-named attorneys-in-fact are not assuming any of my

responsibilities to comply with Section 16 of the Securities Exchange

Act of 1934.



Dated: December 20, 2018



/s/James P. Baker

Signature



James P. Baker

Printed Name