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Investment Banking

At a Glance

Oppenheimer’s full-service investment banking platform provides comprehensive advisory and capital markets capabilities as well as best-in-class execution to all of its clients. With deep industry and product expertise, the division is positioned to provide companies with tailored solutions at each stage of their business life cycle.

Year in Review

The market in 2019 was characterized by macroeconomic uncertainties and ongoing geopolitical tensions. Global industry-wide activity was down 5 percent compared to 2018, driven by a decline across most major product areas.

Despite the challenging market environment, Oppenheimer’s Investment Banking division delivered its strongest quarterly and full-year revenue performance since 2010. Gross revenues reached $81.1 million, an increase of more than 10 percent year-over-year, driven by strategic investments in senior bankers across key industry and product groups. In 2019, Healthcare, Technology, and Rental Services collectively represented more than three quarters of total gross revenues. M&A transactions totaled $3 billion in value, and the firm raised approximately $31 billion of equity and equity-linked capital for clients via 86 offerings. Debt Capital Markets revenue more than doubled year-over-year, with $2.6 billion of proceeds raised.

Investment Banking stats
Investment Banking stats

Looking Forward

We are optimistic about future performance in the year ahead. While complex geopolitical issues are likely to continue, global growth expectations remain positive, as we see room for higher valuations that may be realized by greater clarity in monetary and trade policies and improved corporate earnings.

Given constructive markets, the Investment Banking division is uniquely positioned in 2020 for increased momentum across its core competencies. Collaboration with institutional and wealth businesses has traditionally provided our clients and Oppenheimer with a compelling competitive advantage. We expect the firm’s reputation for its total client experience will continue to form a solid foundation that will drive success in the future.

Our commitment to developing existing talent and opportunistically investing in additional senior banking personnel will allow us to continue to provide clients with experienced, tailored advice. Looking forward, pipelines remain healthy, as our targeted growth strategies have resulted in strong, active client dialogues in the middle-market. As client relationships continue to mature, we expect that there will be increased opportunities to market our deep and diversified expertise, leading to further high-quality mandates. Proven, timely, and efficient execution on these mandates should continue to expand our global client footprint and result in improved market share.

Further, we also expect to increase the use of technological innovations. The division will continue to explore and embrace new technologies that will enable us to improve efficiency, enhance collaboration, and ultimately deliver value-add capabilities both to our bankers and our clients.

Oppenheimer is relentlessly focused on human capital as well as its reputation for the total client experience. We are confident that these factors will continue to enhance the firm’s service and reputation in 2020 and the years ahead.

Notable Highlights

Our clients benefit from our deep industry expertise, broad product capabilities and extensive transaction experience. In 2019, we executed on a number of noteworthy transactions, reflecting the diversity of our investment banking franchise.

  • Lead bookrunner on Marinus Pharmaceuticals’ $70.3 million confidentially marketed public offering and concurrent private placement
  • Advisor on Foresters Financial’s sale of three of its subsidiaries in a complex, landmark set of transactions in the Financial Institution space
  • Advisor on sale of Allegiance Crane and Equipment, reinforcing Oppenheimer’s position as the leading M&A financial advisory firm to the rental services sector
  • Joint bookrunner on Purple’s $80.5 million follow-on offering, demonstrating the value and impact Oppenheimer can deliver for industry leading mid-cap companies
  • Bookrunner and Lead Manager on TSTT’s $400 million senior notes offering, demonstrating the firm’s international reach and full-service execution capabilities
2018 Investment Banking Transactions
2018 Investment Banking Transactions


In Gross Revenues

In Total Value of
M&A Transactions