NEW YORK, Dec. 7, 2021 /PRNewswire/ -- Oppenheimer
& Co. Inc. ("Oppenheimer") – a leading investment bank, wealth
manager, and a subsidiary of Oppenheimer Holdings (NYSE: OPY) –
today announced a significant expansion of its Debt Advisory &
Restructuring Group with the hiring of three dedicated
restructuring specialists. The three professionals – Managing
Directors and Co-Heads of Debt Advisory & Restructuring Eric
Scroggins and Joe Stone, as well as
Managing Director Lance Gurley –
bring to Oppenheimer over 60 years of collective experience in
guiding clients through restructurings and other special
situations. They will significantly enhance the firm's ability to
provide tailored investment banking guidance to companies at every
stage of the corporate life cycle.
Robert Lowenthal, President of
Oppenheimer and Head of Investment Banking, said, "As our economy
and capital markets continue to evolve, Oppenheimer's Investment
Banking platform has played a leading role in helping companies
capture opportunities in both capital formation and strategic
transactions. With this announcement, we are pleased to further
expand our ability to provide our clients with trusted advice in
the area of restructuring, as well, further broadening our ability
to guide their ongoing development. The group of senior
professionals we are welcoming today provides the ideal combination
of insight, energy and talent to further enhance our service
offerings for clients in need of advisory services related to the
financial restructuring of their businesses."
Oppenheimer's Head of Debt Advisory & Restructuring,
Bruce Buchanan, who has been
instrumental in establishing the firm's restructuring capabilities
and growth expansion efforts, added, "I look forward to leveraging
the expertise and capabilities of my new partners to provide
comprehensive strategic advisory services to our clients, as we
continue to expand our scale, geographic footprint and broader
market position."
Mr. Scroggins has over 25 years of experience in both principal
investing and in advising companies, creditors, and other
stakeholders and buyers of assets in financial distress and Chapter
11 situations across a wide range of complex foreign and domestic
transactions.
Mr. Stone has over 20 years of experience advising corporate,
creditor and private equity clients involved in complex capital
structure challenges, and has executed a wide range of
restructurings, M&A and capital transactions.
Mr. Gurley has advised on M&A, complex restructurings and
private debt and equity securities placements, and has a wide range
of experience in advising the boards and senior executives of both
public and private companies on developing solutions for
reorganizing capital structures and business operations.
Mr. Scroggins said, "On behalf of our team, we are thrilled to
be joining a platform with the resources, reputation and
comprehensive investment banking capabilities that Oppenheimer
offers. Throughout this process, it has been clear to us that the
leaders of Oppenheimer's Investment Banking group are serious about
building a market leader in the debt advisory and restructuring
space."
Oppenheimer's ongoing, focused expansion of its senior
investment banking leadership and expertise across key industries
and sectors, coupled with continual investment in its leading
equity research capabilities, have been among the primary drivers
of the firm's record-setting investment banking results over the
past two years. Full-year investment banking revenue of
$222.3 million for 2020 increased 76%
over 2019, while the division's revenue increased 129% through the
first nine months of 2021 versus the same period in 2020, to
$316.1 million.
Oppenheimer's expansion of its Debt Advisory & Restructuring
group further builds on this momentum, and follows the launch last
month of the firm's Global Fund Placement and Advisory Group, which
will provide services to leading alternative investment firms to
help them fulfil their fundraising ambitions and strategic
plans.
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.
Media Inquiries
Joseph
Kuo / Chris Clemens
Haven Tower Group
jkuo@haventower.com or cclemens@haventower.com
424 317 4851 or 424 317 4854
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SOURCE Oppenheimer & Co. Inc.