Oppenheimer & Co. Names New President

Veteran Oppenheimer executive Robert Lowenthal, the firm’s senior managing director and head of investment banking, has been promoted to the newly created position of president at both Oppenheimer Holdings and Oppenheimer & Co., its broker-dealer subsidiary.

But Lowenthal, who joined Oppenheimer in 1999, will continue to oversee investment banking at the firm, it said.

His appointment to the role of president, effective immediately, “reflects his many contributions over his 23-year career at Oppenheimer, as he has built and led multiple business divisions; established the core infrastructure and systems to support accelerated performance and scale; developed the global talent base to create effective teams throughout the firm; and played a central role in driving the firm’s strategy for growth,” the company said in a news release.

The promotion was also “part of an orderly and long-term succession plan” that was approved unanimously by Oppenheimer’s board of directors, it said.

Lowenthal, 45, has “dramatically re-built the firm’s Investment Banking Division resulting in record-breaking performance” and will continue in his role as head of investment banking, the firm said.

“Oppenheimer’s Board and senior management team wanted an exceptional leader who thoroughly understands the Oppenheimer culture and has a clear track record of driving growth by building businesses, developing powerful teams with top-tier talent and embracing innovation,” according to Paul Friedman, lead director of Oppenheimer’s board.

“Without question, Rob Lowenthal fits the bill,” Friedman said in a statement. “Rob’s foresight and dedication have been critical to the tremendous growth of our Investment Banking Division since he assumed leadership of the group in 2016. At the same time, his strategic guidance as a member of the Board of Directors has been crucial in helping the entire company achieve record overall results in recent years.”

Lowenthal’s career at Oppenheimer started with his leadership of the firm’s technology group, where he “rationalized and integrated key systems across the firm while also implementing critical platforms that enabled the Company to digitize and scale its operations, facilitating its strong growth in subsequent years,” according to the company. He also “spearheaded the successful integration of several firms acquired by Oppenheimer during this time period,” it noted.

He was promoted to lead the firm’s fixed income business, “taking over in the midst of the financial crisis in 2008,” the firm said. “Despite the difficult economic climate, he made thoughtful investments in the group’s personnel and capabilities during this time, leading to the establishment of a business unit that consistently contributed over $100 million in revenue.”

In 2016, he assumed leadership of Oppenheimer’s investment banking businesses, “significantly accelerating the strategic growth and performance of the division,” the company said. “Under his direction, revenues from Investment Banking have surged from $81 million in 2016 to over $400 million on an annualized basis for 2021.”