Oppenheimer & Co. Announces Miami-Area Expansion With Opening Of New Office In Coral Gables

Rhea-AI Summary

Oppenheimer & Co. Inc., a subsidiary of Oppenheimer Holdings (NYSE: OPY), has expanded its Miami presence by opening a new office in Coral Gables. This strategic move aims to enhance the firm's ability to serve both domestic and international clients in a rapidly growing financial hub. The new facility can accommodate over 30 financial advisors, providing necessary capacity for future growth. It replaces Oppenheimer's previous Coconut Grove location. The firm's investment solutions and expertise in capital markets are highlighted, demonstrating significant asset management growth since February 2020, outperforming the S&P 500 by over 50%.

Positive

• Opening of a new office in Coral Gables, enhancing service capabilities.
• Over 30 financial advisors positioned for growth in South Florida.
• New office provides much-needed capacity for future expansion.
• Asset under management growth has outpaced the S&P 500 by over 50% since February 2020.

Negative

• None.

News Market Reaction – OPY

+1.02%

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+1.02% News Effect

On the day this news was published, OPY gained 1.02%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Centrally Located Office Reflects Commitment to Enhancing Advisors' Ability to Serve Domestic and International Clients in Fast-Growing Financial Services Hub

NEW YORK, March 21, 2023 /PRNewswire/ -- Oppenheimer & Co. Inc. ("Oppenheimer") – a leading wealth manager, investment bank, and a subsidiary of Oppenheimer Holdings (NYSE: OPY) – today announced the expansion of its Miami-area presence with the opening of the new office in Coral Gables.

"I am delighted that Oppenheimer's Coral Gables office has opened its doors," said Ed Harrington, Executive Vice President of the Private Client Division. "The new facility reflects the firm's strong and growing commitment to South Florida, which over the last few years has emerged as one of the most important financial services hubs in the country. Moving forward, we are excited to build upon our long track record of supporting growth-oriented, entrepreneurial-minded financial advisors in the region and to serving a wide range of domestic and international clients." 

More than 30 financial advisors currently work out of the Coral Gables office, which replaces the firm's former Miami headquarters in Coconut Grove. Importantly, the state-of-the-art, multi-use facility provides the Private Client Division much-needed extra capacity to continue to grow its South Florida-based advisor base in the future. 

The office is centrally located, situated around other prime real estate, including various historic landmarks, luxury hotels and high-end retail shops. It also enjoys easy access to Miami International Airport.  

Oppenheimer's Miami team offers a wide array of sophisticated solutions for clients. This includes corporate and executive services, investment solutions and tactical allocations, financial planning and retirement planning, as well as trust services and estate planning. Its advisors possess a deep understanding of capital markets and strategic considerations for clients with interests in Latin America.

Since Oppenheimer first established a presence in South Florida almost 30 years ago, its local footprint has grown substantially. The Coral Gables office's success over that period has been fueled by its ability to attract, groom and retain high quality, client-focused advisors. Since February 2020, the team's asset under management growth has outpaced the performance of the S&P 500 by more than 50%.

"I was thrilled to be a part of the Coconut Grove community for so many years and I'm sad to leave it behind, but this new office in Coral Gables highlights the momentum Oppenheimer has created in South Florida," said Guillermo Vega, Branch Manager, "Looking ahead, I look forward not only to accelerating our growth in Miami but to continuing to find new and innovative ways to support advisors who serve high-net-worth and institutional clients in the area."

Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. (Oppenheimer), a principal subsidiary of Oppenheimer Holdings Inc. (OPY on the New York Stock Exchange), and its affiliates provide a full range of wealth management, securities brokerage and investment banking services to high net-worth individuals, families, corporate executives, local governments, businesses and institutions.

Media Contact:
Joseph Kuo / Michael Dugan
Haven Tower Group LLC
424 317 4851 or 424 317 4852
jkuo@haventower.com or mdugan@haventower.com

View original content:https://www.prnewswire.com/news-releases/oppenheimer--co-announces-miami-area-expansion-with-opening-of-new-office-in-coral-gables-301774484.html

SOURCE Oppenheimer & Co. Inc.

FAQ

What recent expansion did Oppenheimer Holdings (OPY) announce?

Oppenheimer announced the opening of a new office in Coral Gables, expanding its Miami presence.

How many financial advisors are currently in Oppenheimer's new Coral Gables office?

The Coral Gables office currently hosts over 30 financial advisors.

What is the significance of the new Coral Gables office for Oppenheimer?

The office reflects Oppenheimer's commitment to serving clients in a growing financial services hub and provides additional capacity for growth.

How has Oppenheimer's asset management performance changed since February 2020?

Since February 2020, Oppenheimer's asset under management growth has outpaced the S&P 500 by more than 50%.