NEW YORK - Oppenheimer & Co. Inc., a subsidiary of Oppenheimer Holdings (NYSE: OPY), has appointed Christian Baetz as a Managing Director within its Consumer Investment Banking Group. Baetz, with over 15 years of experience in investment banking, will operate from the New York office, focusing on Consumer Services and Retail sectors.
Michael Cella, Managing Director and Group Head of U.S. Consumer Investment Banking at Oppenheimer, expressed enthusiasm for Baetz’s arrival, citing his extensive background in middle market mergers and acquisitions (M&A) and his potential to spur growth and bolster the firm's standing in the industry.
Baetz's career includes significant roles in the U.S. and Germany, most notably as a Director in the M&A group at Bank of America. His previous experience spans positions at UBS Investment Bank and The Royal Bank of Scotland (NYSE:RBS_old_old), and he holds a Master's of Business from the University of Bayreuth in Germany.
Robert Lowenthal, President of Oppenheimer and Head of Investment Banking, highlighted Baetz's M&A expertise and his insight into the European market as assets that will strengthen the Consumer team. Lowenthal underlined that Baetz's hire reflects the firm's commitment to enhancing its investment banking services across various sectors and regions.
Baetz expressed his eagerness to join Oppenheimer and contribute to the expansion of the firm’s Consumer sector coverage. He aims to leverage his investment banking experience to drive client success and extend Oppenheimer's influence in the Consumer sector.
This move aligns with Oppenheimer's strategy of attracting talent to strengthen its service offerings and market position. The firm provides wealth management, securities brokerage, and investment banking services to a diverse client base, including high net-worth individuals, families, corporate executives, local governments, businesses, and institutions.
The information for this article is based on a press release statement from Oppenheimer & Co. Inc.
InvestingPro Insights
Oppenheimer Holdings' (NYSE: OPY) recent appointment of Christian Baetz to its Consumer Investment Banking Group comes at a time when the company is showing strong financial performance and shareholder-friendly policies. According to InvestingPro data, Oppenheimer has a market capitalization of $498.33 million and has been profitable over the last twelve months, with a P/E ratio of 8.24.
The company's commitment to shareholder value is evident in two key InvestingPro Tips. Firstly, management has been aggressively buying back shares, which often signals confidence in the company's future prospects. Secondly, Oppenheimer has maintained dividend payments for an impressive 32 consecutive years, demonstrating a long-term commitment to returning value to shareholders.
These shareholder-friendly actions are complemented by Oppenheimer's financial performance. The company's revenue for the last twelve months as of Q2 2023 stood at $1.22 billion, with a robust gross profit margin of 90.14%. This strong financial foundation supports the company's ability to attract top talent like Baetz and potentially expand its investment banking services.
Investors may be particularly interested to note that Oppenheimer has experienced a large price uptick over the last six months, with a total return of 29.82% during this period. This positive momentum could be indicative of market confidence in the company's strategic moves, including high-profile appointments such as Baetz's.
For those seeking a deeper dive into Oppenheimer's financials and prospects, InvestingPro offers 15 additional tips that could provide valuable insights for investment decisions.
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