Company Overview of OppenheimerFunds, Inc.
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
Founded in 1960
Key Executives for OppenheimerFunds, Inc.
Senior Vice President and Chief Financial Officer
Executive Vice President and Chief Operating Officer
Executive Vice President and Head of Distribution
Compensation as of Fiscal Year 2012.
OppenheimerFunds, Inc. Key Developments
OppenheimerFunds, Inc. Unveils Modernized Retail and New Institutional Brand
Apr 29 13
OppenheimerFunds, Inc. announced plans to unveil a new brand and visual identity that represents the firm's strategy to leverage its innovative heritage and support its mission to turn its unconventional wisdom into value for investors. The new look reveals a modernized retail brand, which will continue to be known as OppenheimerFunds, and a new institutional brand, OFI Global Asset Management. The brands will be unveiled on May 1, 2013, across many of the firm's communications platforms. OppenheimerFunds will continue to provide advisory services to the Oppenheimer mutual funds. OFI Global Asset Management will provide institutional clients with access to many of OppenheimerFunds' existing investment strategies including in-depth counsel and strategic allocation services. The new brand identity represents a culmination of extensive internal evaluation and new initiatives, including:
An expansion of the firm's alternatives platform, most recently through the acquisition of leading alternative investment manager SteelPath, The creation of a CIO, Asset Allocation position, recently filled by Mark Hamilton, to lead the firm's development of multi-asset products and solutions for investors looking to address specific client needs, rather than component parts, Distinctive thought leadership, syndicated through multiple channels, ensuring clients have access when and how they like, a new investment framework, The New 60/40, The evolution of the firm's distribution model, now focused on using a more consultative approach while embracing technology to best serve the needs of today's more sophisticated buyer, a commitment to being a digital market leader by fully embracing and leveraging digital, mobile and social channels to provide increased access to the company's investment professionals.
OppenheimerFunds, Inc. Wins Dismissal of $700 million Claim
Apr 11 13
OppenheimerFunds, Inc. was granted summary judgment on a claim for over $700 million brought by a group of banks. The banks-through subsidiaries-invested over $1 billion in a special-purpose vehicle called AAArdvark Funding Limited IV, which was managed by the company. The banks claimed that the company committed fraud and breached various provisions of the relevant contracts in order to induce the banks to continue funding during 2007. The banks sought over $700 million from the company. On April 10, 2013, New York State Supreme Court Justice Charles E. Ramos granted the company's motion for summary judgment and dismissed the claims. The ruling is particularly significant because similar suits, making almost identical allegations, have been filed over two other "AAArdvark" vehicles. In total, the damages sought in these cases potentially exceeded $2 billion.
OppenheimerFunds, Inc., Annual General Meeting, May 13, 2013
Apr 11 13
OppenheimerFunds, Inc., Annual General Meeting, May 13, 2013. Location: 85 Broad Street. Agenda: To elect nine directors; to ratify the appointment of Deloitte & Touche LLP as auditors of the Company for 2013 and authorize the Audit Committee to fix the auditors' remuneration; to authorize the issue of up to 1,250,000 shares of Class A non-voting common stock to the Oppenheimer & Co. Inc. Employee Share Plan; and to transact such other business as is proper at such meeting or any adjournment thereof.
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