Oppenheimer & Co. is buying Brandis Tallman, an investment bank focused on California municipal debt.
This transaction should give Oppenheimer’s nearly 1,030 financial advisors and their clients greater access to muni bonds in the Golden State. Terms of the deal were not disclosed.
Brandis Tallman’s co-founders, Rick Brandis and Nicki Tallman, will continue to lead the business, which has completed some 242 municipal bond transactions since 2016.
“The California municipal bond market is highly complex, but also presents exceptional growth opportunities,” the two said in a joint statement.
Brandis started work in the securities industry in 1985. Tallman worked for Arthur Anderson as a CPA before she moved into municipal finance in 1993. The two founded the firm in 2002.