Oppenheimer Hld Stock Price, News & Analysis

Oppenheimer Holdings Inc. (OPY) plans to issue $125 million in senior secured notes due 2025 in a private offering exempt from Securities Act registration. The notes will be secured by a first-priority interest in the company's and its subsidiaries' assets. Proceeds will be used to redeem existing 6.75% Senior Secured Notes due July 1, 2022, along with related fees. The offering is contingent upon market conditions. The press release highlights that the notes won't be registered and will only be available to qualified institutional buyers.

On August 31, 2020, Oppenheimer & Co. Inc. announced the launch of its 'Let's Talk Future' Podcast Series, featuring expert discussions on investment banking, wealth management, and current market conditions. Joan Khoury emphasized the need for in-depth analysis to help investors navigate evolving markets. The podcasts cover subjects such as economic trends, technology’s impact on supply chains, and consumer behavior amid COVID-19. Available on multiple platforms, the series aims to broaden Oppenheimer's thought leadership and enhance client communications.

Oppenheimer & Co. Inc. announced the addition of new first-year investment banking analysts as part of its renowned Investment Banking Analyst Program. This initiative, over 30 years in the making, emphasizes mentoring and hands-on experience, aiming to shape future leaders in the financial sector. The new analysts, recruited from prestigious universities with diverse backgrounds, will work across Oppenheimer's offices in New York City, Boston, Baltimore, and San Francisco. This move reflects Oppenheimer's commitment to attracting top-tier talent.

Oppenheimer & Co. Inc. has promoted Doron Barness to Senior Managing Director, effective immediately. This promotion recognizes his leadership as Global Head of Cash Equities Trading and Distribution, a role he will continue while reporting to John Hellier, Senior Managing Director and Head of Equities. Barness oversees a team of approximately 75 staff globally, enhancing service delivery to institutional clients. Oppenheimer provides a broad range of wealth management, brokerage, and investment banking services, positioning itself as a key player in the financial services industry.

Oppenheimer & Co. Inc. successfully concluded its 23rd Annual Technology, Internet & Communications Conference on August 11-12, 2020. The virtual event highlighted Oppenheimer's leadership in the technology sector, featuring over 145 leading companies and more than 500 institutional investors. Notable attendees included major names like AT&T, Verizon, and Intel. With over 60 insightful discussions, Oppenheimer showcased its role in facilitating critical conversations around technology's impact during the ongoing health crisis, emphasizing digital transformation acceleration across industries.

Oppenheimer & Co. Inc. has announced significant appointments within its Financial Institutions Group to enhance its investment banking operations. Joseph Lovell joins as Managing Director and Head of Asset Management, while Philippe Jacquemard takes the role of Managing Director and Head of European Insurance. With over 40 years of combined experience in mergers and acquisitions (M&A) and capital raising, their expertise is expected to drive growth. This move is part of Oppenheimer's broader strategy to strengthen its leadership in key financial sectors, particularly in Europe.

Oppenheimer Holdings reported a net income of $17.6 million or $1.40 EPS for Q2 2020, up from $12.4 million or $0.95 EPS in Q2 2019. Revenue increased by 5.5% to $264.7 million. Investment banking activity surged, particularly in equity underwriting. Despite challenges from low interest rates, robust trading in equities and fixed income drove results. Assets under management reached a record $32.7 billion, supporting future advisory revenues. However, the firm noted a significant 77.6% decline in bank deposit sweep income due to lower interest rates.

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Oppenheimer & Co. Inc. announced the appointment of Jarl Berntzen as Managing Director in its Global Technology Investment Banking Group, focusing on vertical SaaS and data services markets. Based in San Francisco, he will report to Robin Graham. Berntzen brings nearly 30 years of experience in strategic M&A advisory and corporate development, previously working at Goldman Sachs and ThinkEquity Partners. He aims to enhance Oppenheimer's advisory capabilities and client service in light of the growing impact of cloud-based solutions.