Oppenheimer Adds David Fleming to Private Client Division Leadership Team

Rhea-AI Summary

Oppenheimer (NYSE: OPY) elevated David Fleming to a New York-based leadership role in its Private Client Division, reporting to Ed Harrington, and named Ron Guidi branch manager in San Francisco, effective April 9, 2026. Wealth Management reported >$1 billion revenue in 2025, AUM $55.2 billion, and AUA $143.3 billion as of December 31, 2025. Fleming previously grew the San Francisco branch revenue by 36%, assets by 34%, and added seven advisors since joining in 2022.

Positive

• Wealth Management revenue exceeded $1 billion in 2025
• AUM reached an all-time high of $55.2 billion as of Dec 31, 2025
• San Francisco branch revenue +36% under Fleming
• San Francisco branch assets +34% under Fleming
• Branch added 7 advisors during Fleming's leadership

Negative

• None.

News Market Reaction – OPY

+2.89%

1 alert

+2.89% News Effect

On the day this news was published, OPY gained 2.89%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Wealth Management revenue: $1 billion Assets Under Management: $55.2 billion Assets Under Administration: $143.3 billion +5 more

8 metrics

Wealth Management revenue $1 billion Wealth Management segment revenue in 2025 (exceeded this level)

Assets Under Management $55.2 billion Wealth Management AUM as of Dec 31, 2025 (all-time high)

Assets Under Administration $143.3 billion AUA as of Dec 31, 2025 in Private Client Division

Branch revenue growth 36% Revenue growth in San Francisco branch under Fleming’s leadership

Branch asset growth 34% Asset growth in San Francisco branch under Fleming’s leadership

Advisors added 7 advisors New advisors added to San Francisco branch under Fleming

Q4 2025 net income $74.4M Q4 2025 net income reported in recent earnings release

FY 2025 revenue $1.64B Full-year 2025 revenue from latest earnings

Market Reality Check

Price: $106.81 Vol: Volume 85,989 is at 1.51x...

high vol

$106.81 Last Close

Volume Volume 85,989 is at 1.51x the 20-day average of 56,797, signaling elevated interest ahead of this leadership update. high

Technical Shares at $101.45 are trading above the 200-day MA of $75.32 and sit within 1.05% of the $102.53 52-week high.

Peers on Argus

OPY gained 5.63% while peers showed mixed moves: HIVE (-1.43%), BTBT (-5.67%), A...

OPY gained 5.63% while peers showed mixed moves: HIVE (-1.43%), BTBT (-5.67%), AMRK (+2.17%), SWIN (+3.8%). The leadership news impact appears stock-specific rather than a sector-wide move.

Historical Context

5 past events · Latest: Mar 31 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 31	Leadership hires	Positive	+1.9%	Three municipal capital markets MD hires to expand underwriting and trading.
Mar 24	Leadership changes	Positive	+1.1%	New Co-Heads of Equity Capital Markets and refocus of Corporate Executive Services.
Mar 17	New group head	Positive	+1.1%	Appointment of Head of Debt Private Placements to build private credit platform.
Feb 25	Senior hire	Positive	+3.7%	Public Finance MD hire to deepen coverage in California and the West.
Jan 30	Earnings record	Positive	+10.3%	Record Q4 and FY 2025 results with strong Wealth Management and Capital Markets.

Pattern Detected

Recent corporate announcements, especially leadership and strategic hires, have generally coincided with positive next-day price reactions.

Recent Company History

Over the last few months, Oppenheimer has repeatedly highlighted growth across Wealth Management and Capital Markets. Leadership hires in municipal capital markets, equity capital markets, public finance, and debt private placements all coincided with positive 24-hour moves between 1.11% and 3.69%. Record 2025 results, including $1.64B revenue and strong Wealth Management AUM, drove a 10.26% reaction. Today’s Private Client Division leadership changes fit this pattern of strengthening core franchises around record Wealth Management metrics.

Market Pulse Summary

This announcement highlights Oppenheimer’s focus on scaling its Private Client Division on the back ...

Analysis

This announcement highlights Oppenheimer’s focus on scaling its Private Client Division on the back of record Wealth Management performance, including revenue exceeding $1 billion, AUM of $55.2 billion, and AUA of $143.3 billion. The leadership changes centralize experience in New York while reinforcing the San Francisco branch. In context of recent record 2025 earnings and multiple senior hires across franchises, investors may watch for sustained AUM growth and further build-out of wealth and capital markets capabilities.

Key Terms

assets under management, aum, assets under administration

3 terms

assets under management financial

"In 2025, the firm's Wealth Management segment generated revenue exceeding $1 billion, with Assets Under Management (AUM) reaching $55.2 billion"

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

aum financial

"with Assets Under Management (AUM) reaching $55.2 billion (an all-time high)"

Assets under management (AUM) is the total market value of investments that a financial firm or fund manages on behalf of clients. Investors watch AUM like the size of a shop: larger AUM can mean more fee revenue, greater market influence and perceived stability, while rapid changes in AUM signal growing popularity or redemptions that may affect future earnings and investment strategy.

assets under administration financial

"and Assets Under Administration (AUA) totaling $143.3 billion as of December 31, 2025."

Assets under administration (AUA) is the total market value of clients’ investments and accounts that a financial firm oversees for recordkeeping, reporting, and transaction processing without necessarily deciding how the money is invested. Think of it like a warehouse that stores and tracks other people’s goods: bigger AUA shows a firm’s scale, steady fee potential and client trust, so changes can signal growing business or client withdrawals that matter to investors.

AI-generated analysis. Not financial advice.

Fleming Elevated to New York-Based Leadership Role as Ron Guidi Takes Over
San Francisco Office Amid Growth of Company's Wealth Management Business

NEW YORK, April 9, 2026 /PRNewswire/ -- Oppenheimer & Co. Inc., a leading wealth manager and investment bank and a subsidiary of Oppenheimer Holdings Inc. (NYSE: OPY), today announced that David Fleming has been promoted to a leadership role within the firm's Private Client Division. He will be based in New York.

Fleming will report to Ed Harrington, Executive Vice President and Head of the Private Client Division, where he will oversee branches in select markets. He will partner closely with Regional and Branch Managers to strengthen business development, enhance team performance, and support recruiting efforts across the division.

In a related move, Ron Guidi will become Branch Manager in San Francisco, replacing Fleming in that role. He will oversee day-to-day operations and focus on growing Oppenheimer's presence in the Bay Area.

These changes come amid continued growth across Oppenheimer's Private Client Division. In 2025, the firm's Wealth Management segment generated revenue exceeding $1 billion, with Assets Under Management (AUM) reaching $55.2 billion (an all-time high) and Assets Under Administration (AUA) totaling $143.3 billion as of December 31, 2025.

"Dave has done an outstanding job leading our San Francisco office, and this promotion reflects the confidence we have in his ability to shape the next chapter of growth across the Private Client Division," Harrington said. "He brings credibility with advisors, strong business judgment, and a clear understanding of what it takes to build high-performing branches and advisory teams. At the same time, we are excited to welcome Ron, a seasoned leader with deep roots in the Bay Area, and we believe he will continue the momentum Dave created in that office."

Fleming joined Oppenheimer in 2022 and assumed leadership of the firm's San Francisco office. Under his leadership, the branch grew revenue by 36% and assets by 34%, while adding seven advisors. His 30-year career includes advising wealthy individuals and corporate executives at leading investment firms, including Stifel, Barclays, Deutsche Bank, Credit Suisse and Donaldson, Lufkin & Jenrette.

"While I'm excited to take on this new role, I'm also pleased to welcome Ron to Oppenheimer and know the San Francisco branch will be in excellent hands," Fleming said. "Having worked with Ron in the past, I saw firsthand that he is a smart, responsive, and highly respected leader who shares our focus on client success, advisor growth, and culture. He knows the Bay Area well, and I'm confident he will be a great fit for both the branch and the broader community."

Guidi brings more than 26 years of experience providing financial and business advice to high-net-worth clients and senior executives at leading firms, including Rockefeller Capital Management, Deutsche Bank, and Robertson Stephens. He earned his undergraduate degree from Sonoma State University and an M.B.A. from John F. Kennedy University.

"The continued strength of our Private Client Division is a direct result of the quality of our advisors and the leadership within our branches," said Robert Lowenthal, President and CEO of Oppenheimer. "These changes reflect our commitment to the firm's culture and our investment in the people needed to support our advisors and deepen our relationships in key markets."

About Oppenheimer Holdings Inc.
Oppenheimer Holdings Inc., through its principal subsidiary Oppenheimer & Co. Inc. and related entities, provides a full range of wealth management, securities brokerage and investment banking services to high-net-worth individuals, families, corporate executives, businesses and institutions. For more information, please visit www.oppenheimer.com.

Media Contact:
Michael Dugan
Haven Tower Group LLC
424-317-4852
mdugan@haventower.com

View original content:https://www.prnewswire.com/news-releases/oppenheimer-adds-david-fleming-to-private-client-division-leadership-team-302737654.html

SOURCE Oppenheimer & Co. Inc.

FAQ

What role did Oppenheimer (OPY) assign to David Fleming on April 9, 2026?

He was promoted to a New York-based leadership role in the Private Client Division, reporting to Ed Harrington. According to the company, Fleming will oversee branches in select markets and support business development, team performance, and recruiting across the division.

Who replaced David Fleming as San Francisco branch manager at Oppenheimer (OPY)?

Ron Guidi was named branch manager in San Francisco, replacing Fleming. According to the company, Guidi will manage day-to-day operations and focus on expanding Oppenheimer's presence in the Bay Area.

How large was Oppenheimer's Wealth Management business (OPY) in 2025 by revenue and AUM?

Wealth Management generated more than $1 billion in revenue in 2025 with AUM of $55.2 billion. According to the company, AUA was $143.3 billion as of December 31, 2025.

What were the San Francisco branch performance gains under David Fleming at Oppenheimer (OPY)?

Under Fleming the branch grew revenue by 36% and assets by 34%, and added seven advisors. According to the company, these results occurred during Fleming's leadership since he joined in 2022.

How might the leadership moves at Oppenheimer (OPY) affect advisor recruiting and branch growth?

The changes aim to strengthen recruiting and branch performance through experienced leadership placements. According to the company, Fleming will support recruiting across markets while Guidi focuses on Bay Area growth and day-to-day branch execution.

When did Oppenheimer report the AUM and AUA figures cited with the April 9, 2026 leadership announcement?

The firm reported AUM of $55.2 billion and AUA of $143.3 billion as of December 31, 2025. According to the company, those figures represent the Private Client Division's year-end 2025 metrics.