OPPENHEIMER EXTENDS INVESTMENT BANKING BUILD UP WITH APPOINTMENT OF JOHN C. PUTRINO AS CO-HEAD, REAL ESTATE AND HEAD, LODGING & LEISURE

Rhea-AI Summary

Oppenheimer & Co. Inc. has appointed John C. Putrino as Co-Head of Real Estate Investment Banking and Head of Lodging & Leisure Investment Banking, enhancing its Financial Institutions team. Mr. Putrino brings over 30 years of experience, having closed 50 transactions at Janney Montgomery Scott, strengthening Oppenheimer's position in these sectors. The firm reported a substantial increase in investment banking revenue, reaching $435.9 million in 2021, a 96.1% rise from 2020, supporting its strategy to expand in strategic advisory services and capital markets solutions.

Positive

• Appointment of John C. Putrino expected to enhance Oppenheimer's capabilities in real estate, lodging, and leisure sectors.
• Significant increase in investment banking revenue to $435.9 million in 2021, up 96.1% from 2020.
• Putrino's experience in M&A and capital raising could lead to more successful transactions.

Negative

• None.

Putrino's Outstanding Record Advising Companies and Investors Enhances Oppenheimer's Standing as Banker of Choice in Real Estate, Lodging & Leisure

NEW YORK , June 8, 2022 /PRNewswire/ -- Oppenheimer & Co. Inc. ("Oppenheimer") – a leading investment bank, wealth manager, and a subsidiary of Oppenheimer Holdings (NYSE: OPY) – today announced the continued expansion of its Financial Institutions team with the appointment of John C. Putrino as Co-Head of Real Estate Investment Banking and Head of Lodging & Leisure Investment Banking, working alongside Cliff Booth, who previously joined as Head of Specialty Finance and Co-Head of Real Estate Investment Banking. Mr. Putrino will report to Gilbert Dychiao, Head of Financial Institutions at Oppenheimer.

Mr. Dychiao said, "We are pleased to welcome John to our Financial Institutions Group. John is an accomplished real estate, lodging & leisure investment banker who has demonstrated unparalleled leadership over a 30-year career defined by service to his clients. His previous work in providing M&A and capital raising advice to publicly traded and private companies, his experience in deal origination, business development and spearheading successful joint ventures will be an asset to us all. As Oppenheimer seeks to continuously provide our clients with differentiated, high-value solutions to support their financial and strategic objectives, we look forward to expanding our presence in the sub-sectors of REITs, real estate funds, real estate managers, lodging and leisure."

Mr. Putrino was most recently Head of Lodging & Leisure Investment Banking and Managing Director at Janney Montgomery Scott, LLC, where he successfully originated and closed 50 transactions in the real estate finance and property REIT sectors. At his previous firm, he advised dozens of public and private companies and launched several initiatives, including a complementary practice in the institutional Single-Family Residential sector.

Mr. Putrino said, "I am delighted to join the Financial Institutions Group at Oppenheimer, led by some of the most respected thought leaders in the industry. It is an honor to partner with a team of accomplished professionals that includes Gilbert and Cliff, in addition to Managing Directors Leslie Fenton, Philippe Jacquemard, Joe Lovell, JD Nelson and Ritendra Roy. Oppenheimer's strength lies in delivering breakthrough investment banking products and services to its clients and building out relationships on a foundation of long-established trust. The firm's leadership has refined its focus on financial institutions over the years, and it is my pleasure to join such a talented group pioneering value creation in the industry."

The appointment of Mr. Putrino to his new role comes after Oppenheimer reported record-setting results for its investment banking business over the past year. Full-year investment banking revenue of $435.9 million for 2021 increased more than 96.1% over 2020.

Mr. Dychiao concluded, "Oppenheimer has been at the forefront of providing strategic advisory services and capital markets solutions to emerging growth and middle-market clients, and our tailored advice to clients has built our reputation as one of the most dynamic middle-market banks on Wall Street. Enhancing our presence in the industries we serve by adding experienced bankers will continue to be at the heart of our success, and we look forward to the exciting opportunities ahead in our sectors."

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.

Media Contacts:
Elizabeth Shim / Joseph Kuo
Haven Tower Group
424 317 4861 or 424 317 4851
eshim@haventower.com or jkuo@haventower.com

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SOURCE Oppenheimer & Co. Inc.

FAQ

What is the significance of John C. Putrino's appointment at Oppenheimer?

John C. Putrino's appointment is significant as it strengthens Oppenheimer's leadership in real estate and lodging investment banking, leveraging his 30 years of industry experience.

How has Oppenheimer's investment banking revenue changed recently?

Oppenheimer reported record investment banking revenue of $435.9 million for 2021, a 96.1% increase compared to 2020.

What is Oppenheimer's strategy in expanding its investment banking services?

Oppenheimer's strategy focuses on enhancing its presence in real estate, lodging, and leisure sectors by adding experienced bankers and providing tailored advisory services.

Who will John C. Putrino be working alongside at Oppenheimer?

John C. Putrino will work alongside Cliff Booth, who is the Head of Specialty Finance and Co-Head of Real Estate Investment Banking.