NEW YORK, June 1, 2020 /PRNewswire/ -- Oppenheimer
& Co. Inc. ("Oppenheimer"), a leading investment bank, wealth
manager, and a subsidiary of Oppenheimer Holdings (NYSE: OPY),
today announced an agreement to acquire San Francisco-based Brandis Tallman LLC, one
of the top investment banks specializing in the underwriting and
placement of municipal debt for California issuers. Completion of the
transaction is subject to pending regulatory review and
approvals.
Seasoned California public
finance experts and Brandis Tallman co-founders Rick Brandis and Nicki
Tallman together have more than 60 years of municipal
finance experience. They are joining Oppenheimer as Managing
Directors, continuing to lead their existing team out of
San Francisco and Los Angeles, which will operate as a division
of Oppenheimer under the Brandis Tallman brand. Mr. Brandis and Ms.
Tallman will both report to Oppenheimer's Head of Public Finance
Investment Banking, Bill
Reisner.
Mr. Reisner said, "In this current economic environment, issuers
are increasingly looking for executable solutions to the fiscal
challenges brought about by the economic shutdown. We have been
developing a team of senior bankers with strong credit expertise
and deep sector knowledge, and we expect that issuers will
increasingly demand high caliber coverage from their investment
bankers. We have also seen a growing number of deals done on a
private placement basis, which insulates the issuers from the
vagaries of market volatility. With our new Brandis Tallman
division, Oppenheimer is well-positioned to capture significant
opportunities driven by both of these trends."
Mr. Brandis and Ms. Tallman founded Brandis Tallman in 2002.
Since then, the team has underwritten and privately placed billions
in municipal bonds on behalf of cities, counties, special
districts, and school districts in California. Since 2016, Brandis Tallman has
closed 242 municipal bond transactions as sole manager or private
placement agent.
The combination of Brandis Tallman and Oppenheimer's existing
Public Finance efforts will make Oppenheimer one of the top
underwriters and private placement agents of California municipal bonds. Going forward,
Brandis Tallman will have access to the full resources and scale of
Oppenheimer to enhance its services and capabilities, including a
deep bench underwriting, placement, debt structuring, research, and
trading and sales personnel focused exclusively on the municipal
capital markets.
Commenting on the transaction, Mr. Brandis and Ms. Tallman
jointly said, "The California
municipal bond market is highly complex, but also presents
exceptional growth opportunities for underwriters that combine an
established network of relationships and a proven track record for
successful execution with national resources and capabilities. As a
division of Oppenheimer, Brandis Tallman will optimize its
relationships and expertise as a top California municipal bond underwriter, while
preserving our brand, our leadership and all the other elements of
our team that have driven our success over the years. We look
forward to serving our issuers through even larger underwritings
and more robust services with the backing of Oppenheimer."
"I am delighted that Rick, Nicki and their team have joined
Oppenheimer," said Robert Lowenthal,
Senior Managing Director and Head of U.S. Investment Banking. "This
acquisition demonstrates our commitment to grow our presence in the
California municipal bond market
and stand out as a national leader in public finance."
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. For more information, please visit
www.oppenheimer.com.
Brandis Tallman LLC
Brandis Tallman LLC is a division
of Oppenheimer's investment banking public finance group.
Headquartered in San Francisco,
Brandis Tallman is a leading underwriter of municipal bonds for
public agencies throughout California. For more information,
please visit www.brandistallman.com.
Media Contact:
Joseph
Kuo / Michael Dugan
Haven Tower Group LLC
424 317 4851 or 424 317 4852
jkuo@haventower.com or mdugan@haventower.com
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SOURCE Oppenheimer & Co. Inc.