Oppenheimer & Co.

Oppenheimer & Co. Company Profile

THE SCOOP

Back to Fahnestock
Oppenheimer & Co. is a New York City-based investment bank that provides financial services and advice to high-net-worth investors, individuals, businesses and institutions.  Oppenheimer's business is organized into four divisions: capital markets, wealth management services, Oppenheimer Asset Management and Oppenheimer Trust Company.  The firm is a wholly owned subsidiary of Oppenheimer Holdings, a Canadian financial services holdings company.  Neither Oppenheimer nor its parent is related to well-known OppenheimerFunds, the mutual fund management subsidiary of Massachusetts Mutual Life Insurance. 

The U.S. broker-dealer is backed by over 125 years of history.  The firm's roots go back to 1881, when William Fahnestock founded Fahnestock & Co.  Through over a century of expansion and merger activity, Fahnestock & Co. eventually became Fahnestock Viner Holdings, which acquired Oppenheimer's U.S. private client and asset management divisions in 2003, and changed its name to Oppenheimer Holdings.  When that happened, the company's principal operating subsidiary, Fahnestock & Co., was renamed Oppenheimer & Co.  In the years that followed, Oppenheimer made two big acquisitions, McDonald Investments and UBS's Fishkill, N.Y., office, further solidifying itself as a leading financial services company.

Four pillars
Oppenheimer's capital markets group offers investment banking, research and trading solutions to growing companies, thriving communities and institutional investors.  Oppenheimer's bankers work across a variety of industries, including consumer, energy, finance, health care, industrials, media, telecom and technology.  The firm's public finance department works closely with cities, states and public authorities to develop efficient financing plans. 

Wealth management services is comprised of over 1,300 financial advisors located in more than 90 offices across the U.S.  The division provides advice on a broad range of products and services to individuals, families, corporate executives, businesses and institutions.  The firm's asset management arm was founded in 1985 to help individual and institutional investors build customized investment plans based on strategic asset allocation.  Today, more than 150 professionals work for Oppenheimer Asset Management, which provides customized professional money management through the consulting group, Oppenheimer Investment Advisers and the alternative investments group of Oppenheimer Asset Management.  Oppenheimer Trust Company was established as a service to longstanding, high-net-worth clients and their families.  The division provides clients with access to fiduciary services.

I-banking gets a boost
For the calendar years 2008 through 2012, CIBC will receive payment of at least $5 million a year, based on the performance of Oppenheimer's capital markets business, but Oppenheimer doesn't have to start paying until the first quarter of 2013.  In addition, Oppenheimer will borrow $100 million from CIBC, and CIBC will provide a warehouse credit line, initially as much as $1.5 billion, with which a new Oppenheimer U.S. entity will finance and hold syndicated loans for U.S. middle market companies.  "Our firm is now positioned to service clients with a complete offering of capital markets services, including M&A advisory, equity underwriting, high-yield fixed income origination and loan syndication," said Oppenheimer Holdings chairman, Albert Lowenthal, in a statement.

 

▲ Show Less▼ Show Full Description


Oppenheimer & Co.


125 Broad Street
New York, NY 10004
Phone: (212) 668-8000
www.opco.com

STATS


  • Employer Type: Public
  • Chairman: Albert Lowenthal
  • 2010 Employees: 3,616

Become a Vault Basic Member

Complete your Vault Profile and get seen by top employers