Tim Pynchon Joins Oppenheimer Asset Management as High Yield Tax Exempt Portfolio Manager

  Tim Pynchon Joins Oppenheimer Asset Management as High Yield Tax Exempt
  Portfolio Manager

Business Wire

NEW YORK -- June 17, 2013

Oppenheimer Asset Management Inc., a unit of Oppenheimer Holdings (NYSE:OPY),
is pleased to announce that Tim Pynchon has joined the Firm as Managing
Director – Portfolio Manager for High Yield Tax Exempt Funds. He will be based
in our Boston office.

“We are excited about the experience that Tim brings to Oppenheimer. We look
forward to the new products that Tim will be tasked with bringing to the
Oppenheimer sales force and its clients,” said Albert (Bud) Lowenthal, CEO of
Oppenheimer & Co. Inc.

Since 1982, Tim has worked in the asset management business. Throughout his
career, he has concentrated primarily on high yield tax-exempt fixed income
products, serving as a portfolio manager, underwriter, analyst and
restructuring specialist. Before coming to Oppenheimer, he served at Pioneer
Investment Management, which he joined in 2000. At Pioneer, he was a critical
part of a team that launched two closed-end mutual funds and managed those
funds’ high yield portfolios. He also was part of the 2006 launch of an
open-end pure high yield tax-exempt mutual fund that was made public in 2007.
This fund grew from seed capital of $3 million to over $850 million and
achieved the highest return of all tax exempt funds as rated by Lipper and
Morningstar in 2010.

Before joining Pioneer, Tim underwrote high yield tax exempt health care
issues at Commerce Capital Markets. He also has been a high-yield analyst and
restructuring specialist at Eaton Vance. He earned his MBA at Cornell and his
Bachelor’s degree at Hamilton College.

“Tim is a creative and energetic fixed income professional with many years of
experience, and I am delighted that he is joining our Firm,” said Mr.

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.

Certain statements in this release may constitute “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of 1995.
These statements involve a number of risks, uncertainties and other factors
that could cause actual results to differ materially, as discussed in the
Company’s filings with the Securities and Exchange Commission.


For Oppenheimer
Brian Maddox, 212-850-5661
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