Oppenheimer Builds Out Healthcare Team To Support Accelerating Growth
- March 23, 2021
Jonathan Fassberg Named Vice Chairman of Healthcare Investment Banking, Brian Korb Joins as Managing Director and Don Ritucci Appointed Head of M&A for Firm’s Healthcare Investment Banking Team
Oppenheimer Hits Record Deal Volume in the Sector as it Successfully Concludes Annual Healthcare Conference
NEW YORK, March 22, 2021 – Oppenheimer & Co. Inc. ("Oppenheimer"), a leading investment bank, wealth manager, and a subsidiary of Oppenheimer Holdings (NYSE: OPY), today announced the continued build-out of its Healthcare leadership team within the firm’s Investment Banking business. The Healthcare Investment Banking team has added Jonathan Fassberg in the newly created role of Vice Chairman, Brian Korb as Managing Director, and Don Ritucci as Managing Director and Head of Healthcare Mergers and Acquisitions (“M&A”).
The addition of these new senior executives reflects Oppenheimer’s continued leadership in aligning M&A, capital raising and other investment banking services across the healthcare space, as well as the firm’s commitment to continuously enhance its capabilities in this large and fast-growing sector.
Mr. Fassberg, and Mr. Korb will be based in New York and will report to Michael A. Margolis, R.Ph., Co-Head of Healthcare Investment Banking. Don Ritucci, also based in New York, will report to Robert Lowenthal, Head of Investment Banking.
Mr. Fassberg said, “I am excited to help drive the next stage of growth and success for Oppenheimer’s Healthcare Investment Banking group. There has never been a better moment to enhance Oppenheimer’s position as the clear investment bank of choice for healthcare, biotech, and life sciences firms. The opportunities emerging in this space have never been greater for firms like Oppenheimer that have a proven ability to serve healthcare businesses seeking to expand via M&A and capital raising transactions that are thoughtfully structured and flawlessly executed.”
As Vice Chairman, Mr. Fassberg will leverage his deep experience and extensive contacts across the healthcare spectrum – including biotech and life sciences – and will bring his entrepreneurial approach to enhance Oppenheimer’s presence in the sector. As Managing Director, Mr. Korb brings extensive knowledge of the life science sector, relationships with companies as well as institutional investors that will reinforce the firm’s already formidable capabilities in healthcare investment banking.
Mr. Fassberg and Mr. Korb have worked together for over 20 years in this sector, starting with The Trout Group, a leading investor relations firm in life sciences founded by Mr. Fassberg and now known as Solebury Trout.
Mr. Fassberg comes to Oppenheimer with 30 years of relevant experience, having worked at DuPont Pharmaceuticals as well as several boutique investment banks as an equity research analyst early in his career. Mr. Korb has more than 20 years’ life science experience, largely spent at The Trout Group and Solebury Trout. He led the M&A efforts of The Trout Group’s sale to PNC Bank and was most recently Co-Head of Life Sciences at Solebury Trout.
Together, they will leverage the full scope of Oppenheimer’s resources — including Investment Banking, Capital Markets, Sales & Trading, Research, and Wealth Management — to further elevate Oppenheimer’s ability to deliver an exceptional experience for Boards and management teams of healthcare businesses seeking M&A advisory and capital raising support.
In addition, Mr. Ritucci, as Head of M&A for Healthcare Investment Banking, will be responsible for origination and execution of advisory transactions across all verticals, including Healthcare Services, Medical Devices, Tools & Diagnostics, Pharmaceuticals and Biotech. His expertise will further enable Oppenheimer to meet the rapidly evolving needs of the firm’s growing list of clients.
Mr. Ritucci brings over 28 years of relevant experience, providing M&A advisory to clients across the healthcare industry. He has executed numerous sell-side and buy-side M&A transactions for private equity clients, public companies and founder-owned businesses. Prior to joining Oppenheimer, Mr. Ritucci led the middle market healthcare M&A effort at Jefferies. Previously, he headed financial sponsor coverage and healthcare investment banking at Imperial Capital LLC and was a Managing Director focusing on healthcare M&A at UBS Investment Bank.
31st ANNUAL HEALTHCARE CONFERENCE
Recently, Oppenheimer’s 31st Annual Healthcare Conference provided investors with a broad spectrum of public and private healthcare companies spanning all major sectors of the healthcare industry: bio & specialty pharmaceuticals; biotechnology; medical devices; life science tools and diagnostics; healthcare information technology and distribution; and healthcare providers and servicers.