April 21, 2014 3:59 AM ET

Capital Markets

Company Overview of OppenheimerFunds, Inc.

Company Overview

OppenheimerFunds, Inc. is a privately owned investment manager. The firm primarily provides its services to individuals, corporations, and institutions. It also provides sub-advisory investment-management services. The firm launches and manages equity, fixed income, and balanced mutual funds for its clients. It also launches and manages hedge funds for its clients. The firm invests in the public equity and fixed income markets across the globe. It was founded in 1960 and is based in New York City with additional offices in Rochester, New York and Centennial, Colorado. OppenheimerFunds Inc. operates as a subsidiary of Oppenheimer Acquisition Corp.

Two World Financial Center

225 Liberty Street

New York, NY 10281-1008

United States

Founded in 1960

Phone:

212-323-0200

Fax:

212-323-4070

Key Executives for OppenheimerFunds, Inc.

Chairman
Age: 54
President and Portfolio Manager
Age: 54
Senior Vice President and Chief Financial Officer
Executive Vice President and Chief Operating Officer
Chief Investment Officer
Age: 53
Compensation as of Fiscal Year 2013.

OppenheimerFunds, Inc. Key Developments

OppenheimerFunds Creates New Unified Distribution Organization; Announces Executive Changes

OppenheimerFunds has announced that it has created a new unified Distribution organization that will allow the firm to maximize resources and take advantage of opportunities in the marketplace that will help differentiate it from competitors. The Distribution organization has been realigned around rigorous channel segmentation and increased customization that will be the foundation for its sales strategies going forward. The company appointed John McDonough, who assumed Head of Distribution effective January, seven business units will be organized around specific intermediary and end investor needs. Rocco Benedetto has been promoted to Head of Broker Dealer. Mr. Benedetto and his team will be responsible for leading intermediary business' sales activity across all channels as well as Strategic Accounts, CEO Advisor Institute and eDistribution. They are also charged with developing the sales strategy; assigning and managing territories; and contributing to new product development. Mark Santero has been promoted to head the newly created Private Bank, Trust Bank and Family Office division. This group will be focused on providing solutions to financial institutions serving the ultra-high net worth space as well as creating awareness and insight into asset classes/strategies. Geoff Crumrine has been appointed the interim Head of Institutional. The firm’s Institutional mandate will include identifying products and service needs for large institutional buyers. This team will build critical relationships and sales opportunities through both the investment consultant community and direct relationships with institutions. They will also be responsible for the identification and management of international distribution joint partnerships. The firm is initiating an internal and external search to head this business unit. Mike Sussman has been appointed the interim Head of RIA. This team will provide investment and business consulting services to unaffiliated registered investment advisors. The firm is initiating an internal and external search to permanently head this business unit. Kathleen Beichert will rejoin the Distribution team as Head of Third Party. This group will target products and services to the following clients: Retirement Defined Contribution Investment Only (DCIO), Sub Advisory Services and Third Party Asset Management platform (TAMP) clients. Lamar Kunes will succeed Mr. Santero as the Head of Distribution Operations. Mr. Kunes and his team will be tasked with providing best-in-class service to all Distribution clients and channels including all administrative, analytics, financial and support activities of the Distribution organization. Pete Novak will now report directly to Mr. McDonough as Head of Platform Analytics. His team will be responsible for investment research analytics and relationships with client research teams across all channels, as well as development and communication of investment analytics for both OppenheimerFunds and its competitors.

OppenheimerFunds Announces Management Changes

OppenheimerFunds announced that Mary Ann Picciotto will join the firm as Chief Compliance Officer and is expected to start in the first quarter of 2014. In this role, Ms. Picciotto will be responsible for all aspects of regulatory compliance for OFI's five affiliated investment advisers as well as its three commodity pool operators and advisers, two transfer agents, broker-dealer, and state-chartered trust company, providing compliance services to more than 100 mutual funds and dozens of institutional accounts. Ms. Picciotto will be based in New York and will oversee a staff of more than 30 compliance professionals in three U.S. locations. She will report directly to Ari Gabinet, General Counsel. Ms. Picciotto joins the firm from Morgan Stanley Investment Management where she most recently served as Global Head of Compliance & Chief Compliance Officer for the Morgan Stanley funds. OppenheimerFunds' current Chief Compliance Officer, Mark Vandehey, who has been with the firm for more than 31 years, plans to retire after a transition period with Ms. Picciotto.

OppenheimerFunds Announces Management Changes

OppenheimerFunds (OFI) announced that Arthur P. Steinmetz will be appointed Chief Executive Officer effective July 1, 2014. At that time, Mr. Steinmetz will replace William F. Glavin, Jr., who will remain Chairman of OppenheimerFunds. As part of this transition, effective January 1, 2014, Krishna Memani, Chief Investment Officer, Fixed Income, will replace Mr. Steinmetz as Chief Investment Officer of OppenheimerFunds. In transitioning to his new role, Mr. Steinmetz will assume direct management of Investments, Distribution and Marketing, the principal drivers of the firm's growth strategy. Effective January 1, 2014, John McDonough, Director of National Sales, will be promoted to the role of Head of Distribution. He will replace Philipp Hensler, who will pursue another executive position at a global financial services organization. Krishna Memani, John McDonough, and Martha (Marty) Willis, Chief Marketing Officer, will report directly to Mr. Steinmetz. Mr. Memani's Fixed Income investment team will continue reporting to him. George Evans, Chief Investment Officer, Equities, and Mark Hamilton, Chief Investment Officer, Asset Allocation, and their investment teams will also report to Mr. Memani.

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