Financials
2020 Annual Report

OPPENHEIMER HOLDINGS INC.Annual Report 2020

LETTER FROM THE CHAIRMAN & CEO

Albert A. Lowenthal

Throughout our history, Oppenheimer has built its reputation on our ability to react in periods of crisis, and to put our heads down, and to work diligently towards a successful outcome. Preparation has paid off—it is absolutely essential that we be up and functioning for all of our customers each and every day. We entered this crisis in a position of strength.

Coming off of a strong performance in 2019, we were well prepared for the volatility and challenges of 2020. During this year, the firm generated record revenue and net income, as well as setting numerous other records across our lines of business.

Read Shareholders Letter

Despite the ongoing challenges associated with the pandemic, our associates rose to the challenge with creativity and dedication, enabling Oppenheimer to deliver a year of solid performance.

Financial Highlights

Business Unit Year in Review

Private Client Division

While managing through this pandemic, the division reported revenue of $642.1 million.

Read about the Private Client Division

Asset Management

Despite our dispersed work environment, Asset Management delivered record-setting financial results.

Read about Asset Management

Equities Division

Generating $168 million in top-line revenue, an increase of 56 percent, the business turned in the best performance since the financial crisis.

Read about the Equities Division

Investment Banking

Gross revenues reached $136.2 million, an increase of more than 70 percent, also marking the fourth consecutive year of revenue growth.

Read about Investment Banking

Taxable Fixed Income

Institutional business saw significantly more robust results, with increases ranging from 20 percent to 155 percent, across our various desks.

Read about Taxable Fixed Income

Public Finance and Municipal Trading

2020 was a high-watermark year for Public Finance in terms of revenue growth, transaction volume, league table rankings and departmental growth.

Read about Public Finance and Municipal Trading

Company Financial Information

The Company’s financial information is available at www.oppenheimer.com/about-us/investor-relations. Our Annual Report on Form 10-K for the year-ended December 31, 2020 also serves as our 2020 Annual Report to Stockholders. To request a paper or email copy of our Annual Report on Form 10-K, without exhibits, at no charge, call (800) 221-5588, write to Oppenheimer Holdings Inc., Attention: Secretary, 85 Broad Street, 22nd Floor, New York, NY 10004, or email info@opco.com. Exhibits will be provided upon request and payment of a reasonable fee.