Oppenheimer Enhances Municipal Capital Markets with New Leadership Appointments

Oppenheimer Strengthens Municipal Capital Markets Platform

Oppenheimer & Co. Inc., a well-established name in investment banking and wealth management, is making significant strides in the municipal capital markets sector. This comes with the announcement of the hiring of three veteran Managing Directors. These key additions aim to bolster the firm's already robust capabilities in municipal underwriting, sales, and trading, amidst an increasing demand for infrastructure and a retreat from the municipal market by some long-standing participants.

The new hires—Matt Davis, Lauren Carter, and Brendan Shanahan—are expected to provide a wealth of experience and leadership in municipal finance for the firm, which is a subsidiary of Oppenheimer Holdings Inc. (listed on NYSE under the ticker OPY). These appointments are a testament to Oppenheimer's commitment to enhancing its Public Finance division, which is under the seasoned leadership of Managing Director Beth Coolidge.

The additions come at a crucial time, as the demand for robust infrastructure solutions grows across the United States. Many institutions are stepping back from municipal markets, which creates an opportunity for firms like Oppenheimer to step in and cater to issuers and investors seeking trustworthy capital partnerships. These enhancements align with Oppenheimer’s strategy of maintaining a consistent presence while adapting to the evolving financial landscape.

Peter Albano, the Global Head of Fixed Income at Oppenheimer, expressed that the firm's deep-rooted presence in municipal bonds is pivotal for understanding this market, where relationships and consistent expertise have always mattered. He emphasized that by extending their capabilities, Oppenheimer is now in a stronger position to meet the challenges faced by issuers and the needs of investors looking for substantial municipal investment opportunities.

Meet the New Leaders
Matt Davis, who has joined as the Head of Competitive Municipal Underwriting, brings nearly three decades of experience in fixed income. His recent role as Head of Municipal Trading and Underwriting at Janney Montgomery Scott allowed him to hone his skills in leading competitive and negotiated underwriting businesses and overseeing institutional trading operations. His focus on risk management and execution will play a significant role in the advancement of Oppenheimer's municipal efforts.

Lauren Carter, now also part of the Competitive Municipal Underwriting team, boasts nearly 25 years of municipal financing expertise. Previously a Managing Director at Janney Montgomery Scott, she has extensive experience in underwriting tax-exempt notes and bonds, overseeing transactions ranging from $25 million to $500 million. Her impressive track record positions her among the nation’s leading competitive underwriters.

Brendan Shanahan rounds out the trio, joining as a Municipal Trading Director. With over 30 years in institutional municipal trading under his belt, his career path has been deeply intertwined with managing substantial investment-grade municipal portfolios and fostering strong relationships with key institutional clients. His role will be pivotal as Oppenheimer continues to expand its municipal trading capabilities.

In his remarks, Robert Lowenthal, the President and CEO of Oppenheimer, highlighted that these strategic hires significantly enhance their public finance and municipal capital market footprint. He emphasized that this disciplined yet deliberate growth approach aims to cater to both issuers and investors, solidifying Oppenheimer’s position in a crucial market segment.

As infrastructure financing remains a foundational element for communities across the nation, Oppenheimer's increased focus and investment in their municipal platform reflect a promising future for both the firm and the numerous communities it aims to serve.

For further inquiries about Oppenheimer's leadership and services, visit oppenheimer.com.