Oppenheimer Hld Stock Price, News & Analysis

Oppenheimer Holdings (NYSE: OPY) has announced a significant expansion of its European investment banking team with four key hires in London. The new team, joining from Hannam & Partners, includes Ernest Bell as Managing Director of European Head of Public M&A and Wealth Management, Giles Fitzpatrick as Vice Chairman and Managing Director of European Investment Banking, Richard Clarke as Senior Advisor, and Lucia Sviatkova as Associate.

Bell brings extensive experience having advised on deals exceeding $25 billion in public market and wealth management transactions. The expansion aims to strengthen Oppenheimer's presence in UK wealth management and public M&A sectors, with the team reporting to Max Lami, CEO of Oppenheimer European business.

The strategic hires come as the UK wealth management industry undergoes significant transformation driven by intergenerational wealth transfer and technological advancements, leading to increased US-led investment and M&A activity.

Oppenheimer & Co (NYSE: OPY) has announced the appointment of Gilbert Dychiao as Co-Head of Investment Banking, effective immediately. Dychiao, currently Managing Director and Head of the Financial Institutions Group, will share leadership responsibilities with Robert Lowenthal, who has been appointed as CEO effective May 5, 2025.

Dychiao brings 25 years of investment banking experience and has been with Oppenheimer since 2018. Under his leadership, he has driven total transaction value exceeding $6 billion in industry transactions. In 2024, he led a team of 29 colleagues across the US and UK, achieving record revenue for the Financial Institutions Group.

In his expanded role, Dychiao will oversee several investment banking industry verticals and product groups, while continuing to lead the Financial Institutions Group globally. This appointment is part of Oppenheimer's succession planning strategy to ensure smooth transition for clients, bankers, and staff.

Oppenheimer Holdings (NYSE: OPY) reported Q4 2024 net income of $10.7 million ($1.04 per share), slightly down from $11.1 million ($1.07 per share) in Q4 2023. Revenue increased 21.8% to $375.4 million. For full-year 2024, net income reached $71.6 million ($6.91 per share), up from $30.2 million ($2.81 per share) in 2023, with revenue growing 14.7% to $1.4 billion.

The company achieved record revenue driven by higher advisory fees, increased transaction-based commissions, and improved investment banking performance. Assets Under Management (AUM) reached record levels at $49.4 billion. However, results were impacted by higher compensation expenses, particularly $32.6 million in pre-tax expenses related to liability-based awards due to OPY's stock price increase.

The company repurchased 243,806 shares during 2024 and completed the redemption of all outstanding Senior Secured Notes in Q4 2024. Total stockholders' equity, book value per share, and tangible book value per share reached record levels.

Oppenheimer Holdings (NYSE: OPY) announced the expansion of its Fixed Income Division with three new Managing Directors joining the Emerging Markets Desk in New York. The strategic hires include Persio 'Tony' Perez as EM Sales Manager, Michael Chatman for EM Sales, and Bill Dolan for EM Sovereign Trading.

The new team members bring significant experience: Perez with nearly 30 years, previously at BCP Securities and Merrill Lynch; Chatman with over 25 years, formerly at BCP Securities and BNP Paribas; and Dolan with almost 40 years, previously at Salomon Brothers and Citigroup. These appointments strengthen Oppenheimer's capabilities in emerging markets sales, trading, and research solutions.

Oppenheimer & Co (NYSE: OPY) has appointed Craig Schneider as Regional Director of its Michigan Region. Schneider, who brings over 25 years of financial services experience, will lead the firm's wealth management operations in Michigan and report to Ed Harrington, Executive VP of the Private Client Division.

This appointment follows recent strategic hires including Mark J. Hovanic in Virginia, Aaron Stowell in Atlanta, and Todd Wiggins in Dallas-Fort Worth. The firm also expanded its footprint by opening a new office in Memphis, bringing on board Alan Richmond and Clayton Ellis from B. Riley.

Schneider's most recent position was Executive Director – Market Director at J.P. Morgan Wealth Management. In his new role, he will focus on supporting Oppenheimer's Michigan team and driving regional growth.

Pontera and Oppenheimer (NYSE: OPY) have announced a strategic partnership to enhance wealth management services by incorporating 401(k) account management. Oppenheimer, a major U.S. broker-dealer with 928 financial advisors and $129.8 billion in assets under administration, will utilize Pontera's secure platform to manage clients' workplace retirement accounts. The platform is certified under SOC 2 Type II and ISO 27001 standards, protecting client data while integrating with advisors' portfolio management tools. This collaboration aims to provide more comprehensive investment management services and improve financial outcomes for retirement savers.

Oppenheimer Holdings (NYSE: OPY) concluded its 20th annual Professionals Alliance Group (PAG) Conference at its New York headquarters on November 12-13, 2024. The event brought together Oppenheimer's financial advisors, investment managers, and senior leadership with CPAs and industry partners. The PAG program, established in 1997, enables accounting firms and professional services providers to access Oppenheimer's wealth management, capital markets, and investment banking capabilities. The conference featured sessions on tax-efficient strategies, including tax-exempt fixed income, 1031 exchanges, tax-managed direct indexing, and exchange funds.

Oppenheimer Holdings reported strong Q3 2024 results with net income of $24.5 million ($2.38 basic EPS), up from $13.9 million ($1.32 basic EPS) in Q3 2023. Revenue increased 19.4% to $373.4 million. The company saw improvements across segments, with Private Client revenue up 13.2% to $218.8 million, Asset Management revenue up 30.9% to $27.3 million, and Capital Markets revenue up 31.1% to $124.0 million. Assets under management reached a record $49.1 billion. The company announced the redemption of all outstanding Senior Secured Notes ($113.05 million) on October 10, 2024.

Oppenheimer & Co. Inc., a subsidiary of Oppenheimer Holdings (NYSE: OPY), has announced the appointment of Christian Baetz as Managing Director in their Consumer Investment Banking Group. Baetz, who brings over 15 years of investment banking experience, will be based in New York and report to Michael Cella, Managing Director and Group Head of U.S. Consumer Investment Banking.

Baetz's focus will be on partnering with growth-oriented companies in Consumer Services and Retail. His expertise includes middle market M&A, having worked with numerous companies in the Consumer and Retail sectors. Prior to joining Oppenheimer, Baetz served as a Director in the Mergers & Acquisitions group at Bank of America and has also worked at UBS Investment Bank and The Royal Bank of Scotland.

This strategic hire demonstrates Oppenheimer's commitment to enhancing its investment banking capabilities across sectors and regions, particularly in the Consumer sector.