Oppenheimer Adds David Fleming to Private Client Division Leadership Team

Oppenheimer (NYSE: OPY) elevated David Fleming to a New York-based leadership role in its Private Client Division, reporting to Ed Harrington, and named Ron Guidi branch manager in San Francisco, effective April 9, 2026.

Rhea-AI Summary

Oppenheimer (NYSE: OPY) elevated David Fleming to a New York-based leadership role in its Private Client Division, reporting to Ed Harrington, and named Ron Guidi branch manager in San Francisco, effective April 9, 2026. Wealth Management reported >$1 billion revenue in 2025, AUM $55.2 billion, and AUA $143.3 billion as of December 31, 2025. Fleming previously grew the San Francisco branch revenue by 36%, assets by 34%, and added seven advisors since joining in 2022.

Positive

• Wealth Management revenue exceeded $1 billion in 2025
• AUM reached an all-time high of $55.2 billion as of Dec 31, 2025
• San Francisco branch revenue +36% under Fleming
• San Francisco branch assets +34% under Fleming
• Branch added 7 advisors during Fleming's leadership

Negative

• None.

Argus Apr 9 session

+2.89% close to close Open Argus

Details

News Market Reaction – OPY

On Apr 9, the day this news came out, OPY closed 2.89% above the previous close.

Data tracked by StockTitan Argus for the Apr 9 session.

Key Figures

Wealth Management revenue: $1 billion Assets Under Management: $55.2 billion Assets Under Administration: $143.3 billion +5 more

Wealth Management revenue

$1 billion

Wealth Management segment revenue in 2025 (exceeded this level)

Assets Under Management

$55.2 billion

Wealth Management AUM as of Dec 31, 2025 (all-time high)

Assets Under Administration

$143.3 billion

AUA as of Dec 31, 2025 in Private Client Division

Branch revenue growth

36%

Revenue growth in San Francisco branch under Fleming’s leadership

Branch asset growth

34%

Asset growth in San Francisco branch under Fleming’s leadership

Advisors added

7 advisors

New advisors added to San Francisco branch under Fleming

Q4 2025 net income

$74.4M

Q4 2025 net income reported in recent earnings release

FY 2025 revenue

$1.64B

Full-year 2025 revenue from latest earnings

Historical Context

5 past events · Latest: Mar 31

5 events

1. Mar 31

   Leadership hires

   24h Move

   +1.9%

   Three municipal capital markets MD hires to expand underwriting and trading.

2. Mar 24

   Leadership changes

   24h Move

   +1.1%

   New Co-Heads of Equity Capital Markets and refocus of Corporate Executive Services.

3. Mar 17

   New group head

   24h Move

   +1.1%

   Appointment of Head of Debt Private Placements to build private credit platform.

4. Feb 25

   Senior hire

   24h Move

   +3.7%

   Public Finance MD hire to deepen coverage in California and the West.

5. Jan 30

   Earnings record

   24h Move

   +10.3%

   Record Q4 and FY 2025 results with strong Wealth Management and Capital Markets.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

assets under management, aum, assets under administration

3 terms

assets under management financial

"In 2025, the firm's Wealth Management segment generated revenue exceeding $1 billion, with Assets Under Management (AUM) reaching $55.2 billion"

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

aum financial

"with Assets Under Management (AUM) reaching $55.2 billion (an all-time high)"

Assets under management (AUM) is the total market value of investments that a financial firm or fund manages on behalf of clients. Investors watch AUM like the size of a shop: larger AUM can mean more fee revenue, greater market influence and perceived stability, while rapid changes in AUM signal growing popularity or redemptions that may affect future earnings and investment strategy.

assets under administration financial

"and Assets Under Administration (AUA) totaling $143.3 billion as of December 31, 2025."

Assets under administration (AUA) is the total market value of clients’ investments and accounts that a financial firm oversees for recordkeeping, reporting, and transaction processing without necessarily deciding how the money is invested. Think of it like a warehouse that stores and tracks other people’s goods: bigger AUA shows a firm’s scale, steady fee potential and client trust, so changes can signal growing business or client withdrawals that matter to investors.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Fleming Elevated to New York-Based Leadership Role as Ron Guidi Takes Over
San Francisco Office Amid Growth of Company's Wealth Management Business

NEW YORK, April 9, 2026 /PRNewswire/ -- Oppenheimer & Co. Inc., a leading wealth manager and investment bank and a subsidiary of Oppenheimer Holdings Inc. (NYSE: OPY), today announced that David Fleming has been promoted to a leadership role within the firm's Private Client Division. He will be based in New York.

Fleming will report to Ed Harrington, Executive Vice President and Head of the Private Client Division, where he will oversee branches in select markets. He will partner closely with Regional and Branch Managers to strengthen business development, enhance team performance, and support recruiting efforts across the division.

In a related move, Ron Guidi will become Branch Manager in San Francisco, replacing Fleming in that role. He will oversee day-to-day operations and focus on growing Oppenheimer's presence in the Bay Area.

These changes come amid continued growth across Oppenheimer's Private Client Division. In 2025, the firm's Wealth Management segment generated revenue exceeding $1 billion, with Assets Under Management (AUM) reaching $55.2 billion (an all-time high) and Assets Under Administration (AUA) totaling $143.3 billion as of December 31, 2025.

"Dave has done an outstanding job leading our San Francisco office, and this promotion reflects the confidence we have in his ability to shape the next chapter of growth across the Private Client Division," Harrington said. "He brings credibility with advisors, strong business judgment, and a clear understanding of what it takes to build high-performing branches and advisory teams. At the same time, we are excited to welcome Ron, a seasoned leader with deep roots in the Bay Area, and we believe he will continue the momentum Dave created in that office."

Fleming joined Oppenheimer in 2022 and assumed leadership of the firm's San Francisco office. Under his leadership, the branch grew revenue by 36% and assets by 34%, while adding seven advisors. His 30-year career includes advising wealthy individuals and corporate executives at leading investment firms, including Stifel, Barclays, Deutsche Bank, Credit Suisse and Donaldson, Lufkin & Jenrette.

"While I'm excited to take on this new role, I'm also pleased to welcome Ron to Oppenheimer and know the San Francisco branch will be in excellent hands," Fleming said. "Having worked with Ron in the past, I saw firsthand that he is a smart, responsive, and highly respected leader who shares our focus on client success, advisor growth, and culture. He knows the Bay Area well, and I'm confident he will be a great fit for both the branch and the broader community."

Guidi brings more than 26 years of experience providing financial and business advice to high-net-worth clients and senior executives at leading firms, including Rockefeller Capital Management, Deutsche Bank, and Robertson Stephens. He earned his undergraduate degree from Sonoma State University and an M.B.A. from John F. Kennedy University.

"The continued strength of our Private Client Division is a direct result of the quality of our advisors and the leadership within our branches," said Robert Lowenthal, President and CEO of Oppenheimer. "These changes reflect our commitment to the firm's culture and our investment in the people needed to support our advisors and deepen our relationships in key markets."

About Oppenheimer Holdings Inc.
Oppenheimer Holdings Inc., through its principal subsidiary Oppenheimer & Co. Inc. and related entities, provides a full range of wealth management, securities brokerage and investment banking services to high-net-worth individuals, families, corporate executives, businesses and institutions. For more information, please visit www.oppenheimer.com.

Media Contact:
Michael Dugan
Haven Tower Group LLC
424-317-4852
mdugan@haventower.com

View original content:https://www.prnewswire.com/news-releases/oppenheimer-adds-david-fleming-to-private-client-division-leadership-team-302737654.html

SOURCE Oppenheimer & Co. Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What role did Oppenheimer (OPY) assign to David Fleming on April 9, 2026?

He was promoted to a New York-based leadership role in the Private Client Division, reporting to Ed Harrington. According to the company, Fleming will oversee branches in select markets and support business development, team performance, and recruiting across the division.

Who replaced David Fleming as San Francisco branch manager at Oppenheimer (OPY)?

Ron Guidi was named branch manager in San Francisco, replacing Fleming. According to the company, Guidi will manage day-to-day operations and focus on expanding Oppenheimer's presence in the Bay Area.

How large was Oppenheimer's Wealth Management business (OPY) in 2025 by revenue and AUM?

Wealth Management generated more than $1 billion in revenue in 2025 with AUM of $55.2 billion. According to the company, AUA was $143.3 billion as of December 31, 2025.

What were the San Francisco branch performance gains under David Fleming at Oppenheimer (OPY)?

Under Fleming the branch grew revenue by 36% and assets by 34%, and added seven advisors. According to the company, these results occurred during Fleming's leadership since he joined in 2022.

How might the leadership moves at Oppenheimer (OPY) affect advisor recruiting and branch growth?

The changes aim to strengthen recruiting and branch performance through experienced leadership placements. According to the company, Fleming will support recruiting across markets while Guidi focuses on Bay Area growth and day-to-day branch execution.

When did Oppenheimer report the AUM and AUA figures cited with the April 9, 2026 leadership announcement?

The firm reported AUM of $55.2 billion and AUA of $143.3 billion as of December 31, 2025. According to the company, those figures represent the Private Client Division's year-end 2025 metrics.