Welcome to our dedicated page for Oppenheimer Hld news (Ticker: OPY), a resource for investors and traders seeking the latest updates and insights on Oppenheimer Hld stock.
Oppenheimer Holdings Inc. reports developments tied to its wealth management, securities brokerage, investment banking, and capital markets businesses conducted through Oppenheimer & Co. Inc. and related entities. Recurring updates include quarterly earnings, advisory and underwriting activity, sales and trading conditions, private client division changes, and asset management-related measures within the Wealth Management segment.
Company news also covers additions to investment banking and public finance capabilities, including equity capital markets, debt private placements, municipal underwriting and trading, and sector-focused advisory coverage. Governance, capital actions, and legal or compensation items that affect reported results may also appear in company disclosures.
Oppenheimer & Co. Inc. has appointed Guillaume Petitgas as Managing Director in its Debt Capital Markets Group, enhancing its leadership team. Based in London, Petitgas brings over 15 years of experience in Emerging Markets debt issuance, having previously held senior roles at HSBC and Merrill Lynch. He will focus on DCM transactions primarily across CEEMEA. The firm aims to strengthen its presence in Emerging EMEA and frontier markets with this strategic buildout. The announcement reflects Oppenheimer's commitment to enhancing its global DCM capabilities.
Oppenheimer Holdings Inc. (OPY) has extended its exchange offer for its 5.50% Senior Secured Notes due 2025 by an additional five days, now set to expire on November 23, 2020. The company aims to exchange $125 million of these notes for newly registered notes under the Securities Act. As of November 18, 2020, approximately $124.55 million, or 99.64%, of the outstanding notes have been tendered. All other terms remain unchanged. The Bank of New York Mellon Trust Company, N.A. will serve as the exchange agent.
Oppenheimer & Co. Inc. has appointed James Murray as Managing Director in its Global Consumer Investment Banking Group, based in London. With over 20 years of experience, Murray will enhance Oppenheimer's capabilities in the UK and Europe, focusing on strategic advice for consumer clients and M&A activities. This move is part of Oppenheimer's commitment to expanding its Investment Banking services in Europe. Murray's prior experience includes a role as Partner and Head of Consumer M&A at KPMG, managing over $50 billion in transactions.
Oppenheimer & Co. Inc. has successfully recruited the Mercado Group, led by financial advisors Luis Mercado and Chanttel George-Mercado, who manage approximately $128 million in client assets. This move enhances Oppenheimer's Private Client Division at its Miami branch, expanding its service capability in the U.S. and Latin America. With nearly 50 years of combined financial experience, the new advisors aim to deliver superior wealth management solutions.
Oppenheimer Holdings reported a net income of $15.6 million or $1.25 EPS for Q3 2020, compared to $3.9 million or $0.31 EPS in Q3 2019. Total revenue rose by 17.7% to $276.3 million, driven by higher underwriting revenue and significant M&A fees. Despite a 25.4% increase in compensation costs, non-compensation expenses decreased by 15.7%. The capital markets segment saw a record revenue of $114.3 million, with the investment banking unit achieving its best quarterly revenue ever.
Oppenheimer & Co. Inc. announced the successful conclusion of its virtual Fall Healthcare Life Sciences & MedTech Summit held from September 21-23, 2020. The event attracted over 120 leading companies in the life sciences and MedTech sectors, facilitating discussions on critical trends and investment opportunities. Keynote speakers included former government officials and healthcare experts who provided insights on current health issues. Future events include a MedTech Summit scheduled for November 12, 2020.
On September 21, 2020, Oppenheimer & Co. announces the addition of seven senior professionals to strengthen its Global Fixed Income group. This includes five new Managing Directors and two Executive Directors across various fixed income sectors. Peter Albano, Senior Managing Director, emphasized the importance of exceptional talent in navigating the current market challenges. This hiring strategy aims to enhance capabilities and seize growth opportunities, demonstrating Oppenheimer's commitment to adapting to global disruptions while maintaining a robust recruitment pipeline.
Oppenheimer Holdings Inc. (OPY) has priced $125 million of 5.50% senior secured notes due 2025, set to close on September 22, 2020, subject to customary conditions. The Notes are guaranteed by its subsidiaries and secured by a first-priority interest in nearly all of OPY's and the guarantors' assets. The proceeds will be used to redeem the 6.75% Senior Secured Notes due July 1, 2022, along with associated fees. The offering is exempt from registration under the Securities Act, and the Notes will only be offered to qualified institutional buyers in the U.S. and outside the U.S. under exemptions.
Oppenheimer & Co. Inc. (NYSE: OPY) announced a strategic alliance with InvestCloud to enhance its digital experience platform for financial advisors and clients. This partnership aims to create a new web-based portal for Oppenheimer's Private Client Division, set to launch in H1 2021. The platform will integrate with Oppenheimer's existing technology and provide robust tools for client engagement.
Key benefits include improved client onboarding, business growth, and process efficiency, while leveraging InvestCloud's Prospect Portal and Digital Client Onboarding solutions.
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.