Oppenheimer Holdings Inc. Announces CEO Transition Amidst Growth Plans

Oppenheimer Holdings Inc. Announces CEO Succession

In a key development for the financial services sector, Oppenheimer Holdings Inc. has announced a major leadership transition. Albert G. Lowenthal, who has served as the Chairman and CEO of the firm, will step down from his role on May 5, 2025, following the upcoming Annual Shareholders Meeting. Despite stepping down as CEO, Lowenthal will maintain his position as Chairman of the Board and will expand his role to include Executive Chairman of Oppenheimer & Co. Inc., the firm’s primary operating subsidiary.

Taking the helm as CEO and President will be Robert S. Lowenthal, currently the President and Head of Investment Banking at the firm. This transition comes as part of a strategic plan moving forward, with Albert Lowenthal reflecting on his 40 years of leadership and accomplishments at Oppenheimer. Under his guidance, the company has transformed from a modest entity with $5 million in revenue during the mid-1980s to a global investment powerhouse boasting revenues of $1.4 billion in 2024.

Bud Lowenthal's steady hand has positioned Oppenheimer strategically over the decades, with significant milestones including fifteen major acquisitions and an impressive growth in capital from $5 million to over $850 million. This trajectory has resulted in a remarkable increase in share price from $1.10 in 1985 to $64.09 today, presenting an extraordinary 5,726% rise over a span of nearly four decades.

In his farewell statement, Albert Lowenthal expressed profound gratitude for the opportunity to lead Oppenheimer and highlighted the firm's dedication to fostering economic growth. He emphasized the importance of maintaining robust competition across different capabilities, including Wealth Management, Investment Banking, and Capital Markets.

Rob Lowenthal, stepping into the CEO role, has demonstrated a solid track record across various leadership functions within Oppenheimer over the past 25 years. He has been a pivotal figure in initiating revenue-generating strategies and optimizing corporate governance. Having served on the Board of Directors since 2013, Rob has been instrumental in shaping the firm's future directions, driving initiatives that include digital transformation and operational efficiency.

His previous roles included leading Investment Banking operations, where he successfully oversaw mergers and acquisitions, restructuring, and capital markets activities. Before that, Rob played a vital role as Opco's Global Head of Fixed Income. His experience began as Senior Vice President and Chief Information Officer, where he upgraded the firm’s information infrastructure, emphasizing modernization and strategic growth.

As Rob Lowenthal prepares to steer Oppenheimer into its next growth phase, he acknowledges the firm's deep-rooted legacy and persistent commitment to delivering top-notch services and insights for its clients. In addressing stakeholders, he outlined his excitement about the possibilities that lie ahead, reaffirming his focus on shareholder value and corporate responsibility within the financial market landscape.

In the words of Paul Friedman, the Lead Independent Director of Oppenheimer, “Bud Lowenthal’s leadership has left an indelible mark on the Company. We recognize his contributions and are confident that Rob will guide Oppenheimer toward further success.” The sentiments echoed within the industry suggest optimism concerning the new leadership dynamic.

Oppenheimer Holdings Inc. continues to assert itself as a fundamental player within the middle-market investment banking and full-service broker-dealer space, characterized by its diverse services. The firm has a legacy tracing back to 1881 and operates across 90 locations worldwide, including key business hubs in London, Tel Aviv, and Hong Kong. As the transition approaches, stakeholders remain hopeful about the growth trajectory and competitive positioning of Oppenheimer Holdings Inc. in an ever-evolving financial landscape.