Core Insights - Oppenheimer Holdings Inc. reported a net income of $24.5 million or $2.38 basic earnings per share for Q3 2024, a significant increase from $13.9 million or $1.32 per share in Q3 2023, with revenue rising 19.4% to $373.4 million from $312.7 million in the same period last year [1][6]. Financial Performance - Revenue for Q3 2024 was $373.4 million, up 19.4% from $312.7 million in Q3 2023 [1][6]. - Net income increased to $24.5 million from $13.9 million year-over-year, representing a 76.8% growth [1][6]. - Basic earnings per share rose to $2.38 from $1.32, marking an 80.3% increase [1][6]. - Pre-tax income for the quarter was $35.4 million, up 63.8% from $21.6 million in the previous year [6][18]. Wealth Management Segment - Private Client revenue reached $218.8 million, a 13.2% increase compared to the previous year, driven by higher advisory fees and increased commission revenue [5][6]. - Assets Under Management (AUM) grew to $49.1 billion, a record high, benefiting from market appreciation [9][10]. - Pre-tax income for the Private Client segment was $62.9 million, with a pre-tax margin of 28.8% [5][6]. Investment Banking and Capital Markets - Investment banking revenues increased significantly, with advisory fees rising 82.2% due to higher restructuring-related transaction activity [12][10]. - Capital Markets reported revenue of $124.0 million, a 31.1% increase from the prior year, with a pre-tax loss of $6.1 million, improved from a loss of $15.3 million [10][11]. - Equity underwriting fees decreased by 17.4% due to lower issuance levels, while fixed income underwriting fees saw modest growth [12][10]. Expense Management - Total expenses for Q3 2024 were $337.9 million, up 16.1% from $291.1 million in Q3 2023, with compensation expenses increasing by 21.6% [6][18]. - Non-compensation expenses rose by 4.5%, primarily due to higher interest and technology-related costs [8][10]. - The effective tax rate improved to 30.7% from 36.2% in the prior year, positively impacted by fewer non-deductible expenses [15][18]. Balance Sheet and Capital Management - The company announced plans to redeem all outstanding senior secured notes amounting to $113.05 million, which was completed on October 10, 2024 [4][15]. - Book value per share reached a new high of $81.10, up from $75.01 in the previous year [6][4]. - Total stockholder's equity increased to $837.8 million from $779.3 million year-over-year [13][15].

Core Insights - Oppenheimer & Co. Inc. has appointed Christian Baetz as Managing Director in the Consumer Investment Banking Group, focusing on growth-oriented companies in Consumer Services and Retail [1][2]. Company Overview - Oppenheimer & Co. Inc. is a leading investment bank and wealth manager, a subsidiary of Oppenheimer Holdings, providing a full range of services to high net-worth individuals, families, corporate executives, local governments, businesses, and institutions [4]. Personnel Background - Christian Baetz has over 15 years of investment banking experience, with a strong background in middle market M&A, having worked at Bank of America, UBS Investment Bank, and The Royal Bank of Scotland [2][3]. - His expertise includes a keen understanding of the European market, which is expected to enhance Oppenheimer's capabilities in the Consumer sector [4]. Strategic Goals - The addition of Baetz is aimed at accelerating growth and enhancing Oppenheimer's reputation in the Consumer and Retail sectors [2][4]. - Baetz expressed excitement about contributing to the firm's growth and expanding its reach within the dynamic Consumer sector [4].

SEATTLE, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Perspective Therapeutics, Inc. ("Perspective" or the "Company") (NYSE AMERICAN: CATX), a radiopharmaceutical company that is pioneering advanced treatment applications for cancers throughout the body, today announced that its senior management will participate in panel discussions and company presentations at the Oppenheimer Targeted Radiopharmaceutical Therapies in Oncology Summit in New York, NY on October 8, 2024 and the JonesResearch Virtual Radiopharma Day on ...

Industry Veteran to Bring His Experience Leading, Attracting, and Retaining Advisors to His New Location NEW YORK, Oct. 1, 2024 /PRNewswire/ -- Oppenheimer & Co. Inc. ("Oppenheimer") – a leading wealth manager, investment bank, and a subsidiary of Oppenheimer Holdings (NYSE: OPY) – today announced that Todd Wiggins has been named the Regional Director of its Dallas-Fort Worth Region. Wiggins joined Oppenheimer in 2016 and has served as Managing Director of Investments and Branch Manager in the firm's Atlant ...

Latest Move into Tennessee Builds on Firm's Momentum Following the Opening of Its Nashville Office in 2022 NEW YORK, Sept. 23, 2024 /PRNewswire/ -- Oppenheimer & Co. Inc. (Oppenheimer) — a leading investment bank, wealth manager, and a subsidiary of Oppenheimer Holdings (NYSE: OPY) — today announced the opening of its new office in Memphis, Tennessee, along with the recruitment of Alan Richmond, Executive Director – Investments, and Clayton Ellis, Director – Investments. They will report to Phil Hall, Execu ...

Group 1 - Oppenheimer Holdings Inc. announced the redemption of $113,050,000 of its 5.50% Senior Secured Notes due 2025 on October 10, 2024, at a redemption price of 100% of the principal amount plus accrued interest [1] - The redemption will result in all outstanding Notes being redeemed, leaving none remaining [1] - The Chairman and CEO highlighted that the company's strong financial results and balance sheet allow it to reduce interest expenses during a period of high interest rates [2] Group 2 - Oppenheimer Holdings Inc. is a leading middle market investment bank and full-service broker-dealer, engaged in various financial services including retail securities brokerage, institutional sales and trading, and investment banking [2] - The company has a long history dating back to 1881 and is headquartered in New York, with 88 retail branch offices in the U.S. and institutional businesses in London, Tel Aviv, and Hong Kong [2]

Former J.P. Morgan Securities Veteran to Lead Firm's Richmond and Virginia Beach Offices NEW YORK, Sept. 3, 2024 /PRNewswire/ -- Oppenheimer & Co. Inc. ("Oppenheimer") – a leading wealth manager, investment bank, and a subsidiary of Oppenheimer Holdings (NYSE: OPY) – today announced the appointment of Mark J. Hovanic as Executive Director and Branch Manager. In this role, he will lead the dayto-day operations of Oppenheimer's Private Client Division offices in Richmond, Va., and Virginia Beach, Va. A 25-yea ...

Core Insights - Oppenheimer & Co. Inc. is hosting its third annual Next-Gen Peer-to-Peer Forum in New York City, gathering nearly 60 financial advisors from 25 Private Client Division offices across 16 states to enhance their skills and resources [1][2] Group 1: Event Overview - The Next-Gen Peer-to-Peer Forum aims to foster collaboration among young financial advisors, allowing them to share best practices and engage with mentors [2][3] - The event will cover various topics including multi-generational practice management, advanced planning concepts, and client acquisition strategies [3] Group 2: Company Commitment - Oppenheimer manages approximately $6.5 billion in assets through the forum participants, highlighting the experience and potential of this group [3] - The company has invested in training over three generations of financial advisors and continues to support junior development programs [3]

Group 1 - OUTFRONT Media Inc. will have its Executive Vice President and Chief Financial Officer, Matthew Siegel, present at the Oppenheimer 27th Annual Technology, Internet & Communications Conference on August 13, 2024, at 3:45 p.m. Eastern Time [1] - A live and replay audio webcast of the presentation will be available on the investor relations section of OUTFRONT's website [1] Group 2 - OUTFRONT Media Inc. utilizes technology, location, and creativity to connect brands with consumers through a diverse range of billboard, transit, and mobile assets in the United States [2] - The company's technology platform aims to fundamentally change how advertisers engage with audiences on-the-go [2]

Group 1 - Verizon Communications Inc. generated revenues of $134.0 billion in 2023, highlighting its strong financial performance [2] - The company serves millions of customers globally, including nearly all of the Fortune 500, emphasizing its extensive market reach [2] - Verizon is committed to innovation, continuously adapting to meet customer demands for mobility, reliable network connectivity, and security [2] Group 2 - Kyle Malady, Executive Vice President and CEO of Verizon Business, is scheduled to speak at the 27th Annual Oppenheimer Technology, Internet & Communications Conference on August 12 [1] - The conference remarks will be webcast, providing accessibility for investors and stakeholders [1]