Oppenheimer & Co. Inc. Further Expands Technology, Media And Communications Investment Banking Group With Appointment Of Maxwell Gover As Managing Director

Rhea-AI Summary

Oppenheimer & Co. has expanded its Global Technology Investment Banking Group with the appointment of Maxwell Gover as Managing Director, effective July 6, 2021. Gover, with over 12 years of experience, will focus on strategic advisory and capital raising within the interactive media and communications sectors. This move is part of Oppenheimer's strategy to enhance its technology investment banking capabilities. The firm reported a 70% increase in full-year investment banking revenue for 2020, reaching $222 million, with Q1 2021 revenue surging 384% to $124.5 million.

Positive

• Appointment of Maxwell Gover expected to enhance strategic advisory and capital raising services in high-growth sectors.
• Significant growth in investment banking revenue, increasing 70% in 2020 and 384% in Q1 2021.

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• None.

NEW YORK, July 6, 2021 /PRNewswire/ -- Oppenheimer & Co. Inc. ("Oppenheimer"), a leading investment bank, wealth manager and a subsidiary of Oppenheimer Holdings (NYSE: OPY), today announced the expansion of its Global Technology Investment Banking Group with the appointment of senior banker Maxwell Gover as a Managing Director. Mr. Gover's primary focus will be on providing strategic advisory and capital raising services to companies in the interactive media and communications sectors of the Technology industry. He will be based in New York City, reporting to Robin Graham, Oppenheimer's Head of Technology, Media, and Communications Investment Banking.

Mr. Graham said, "It remains our strategy to expand our senior technology investment banking team by hiring highly experienced bankers that bring deep domain expertise in high growth sub-sectors of the Technology industry. Max's considerable experience raising capital and providing strategic advice to the interactive media, gaming and communications segments of our industry is a strong complement to our existing senior banking team. We look forward to providing deeper insight and stronger service and thought leadership to our clients with Max on board."

Mr. Gover joins Oppenheimer with over a dozen years of experience in corporate finance advisory across numerous technology, media and telecommunications verticals. Previously, he was with Wells Fargo, where he led the Interactive Media and Communications Technology practices. Prior to Wells Fargo, he was a member of the M&A advisory team at Morgan Stanley.

The technology, media, and communications sector has experienced tremendous growth in recent years as companies across the industry capitalize on secular trends that are driving both adoption and new applications of technology by innovating and expanding their product and service offerings.

Oppenheimer's Technology Investment Banking team has taken significant market share since 2018 through aggressive hiring at all levels and tremendous success in onboarding and integrating a highly specialized team of industry coverage bankers with deep sub-sector expertise to complement Oppenheimer's strength in Technology equity research and the equity capital markets.

Mr. Gover said, "Given the massive tailwinds in the technology environment, including access to reliable, affordable broadband and demographic shifts driving media consumption and workforce collaboration, both interactive media and communications technology are in their early innings as disruptive, transformative forces driving value creation in the global economy. I am extremely excited about continuing to work with exciting, disruptive and fast growing companies by leveraging Oppenheimer's exceptional full-service platform and extensive range of capabilities to provide strategic M&A advice and capital raising services to our clients."

Oppenheimer's ongoing, thoughtful expansion of its senior investment banking leadership and expertise across key industries and sectors, coupled with continual investment in its leading equity research capabilities, has been one of the primary drivers of the firm's record-setting investment banking results over the past year. Full-year investment banking revenue of $222 million for 2020 increased more than 70% over 2019, while Q1 2021 revenue for the division increased 384% versus Q1 2020, to $124.5 million. The expansion of Oppenheimer's Global Technology Investment Banking Group is expected to build even further on this momentum.

Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. (Oppenheimer), a principal subsidiary of Oppenheimer Holdings Inc. (OPY on the New York Stock Exchange), and its affiliates provide a full range of wealth management, securities brokerage and investment banking services to high-net-worth individuals, families, corporate executives, local governments, businesses and institutions. For more information, please visit www.oppenheimer.com.

Media Contact:
Joseph Kuo / Michael Dugan
Haven Tower Group LLC
424 317 4851 or 424 317 4852
jkuo@haventower.com or mdugan@haventower.com

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SOURCE Oppenheimer & Co. Inc.

FAQ

What is the significance of Maxwell Gover's appointment at Oppenheimer?

Maxwell Gover's appointment as Managing Director aims to strengthen Oppenheimer's advisory and capital raising services in the rapidly growing interactive media and communications sectors.

How has Oppenheimer's investment banking revenue changed recently?

Oppenheimer's investment banking revenue increased 70% in 2020, reaching $222 million, and saw a remarkable 384% rise in Q1 2021 compared to the same period in 2020.

What sectors will Maxwell Gover focus on at Oppenheimer?

Maxwell Gover will concentrate on the interactive media and communications sectors within the technology industry.

What are the potential impacts of Oppenheimer's expansion of its investment banking team?

The expansion is expected to enhance service delivery and thought leadership, potentially leading to increased client engagement and further revenue growth.