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Oppenheimer's Investment Banking Division Announces Creation Of The Private Shares Group

 Oppenheimer's Investment Banking Division Announces Creation Of The Private
                                 Shares Group

PR Newswire

NEW YORK, Nov. 21, 2013

NEW YORK, Nov. 21, 2013 /PRNewswire/ --Oppenheimer & Co. Inc., a unit of
Oppenheimer Holdings (NYSE:OPY), today announced that it completed the
purchase of certain assets of Greencrest Capital, a NY-based research and
advisory firm that specialized in providing insight and access into late stage
private companies. As part of the agreement, Boaz Rahav, Greencrest's
founder, has joined Oppenheimer as Managing Director to establish and lead the
firm's Private Shares Group. The new Group will be exclusively focused on
providing liquidity and new capital solutions for private companies and their
shareholders, including venture capital firms and angel investors. Boaz will
be joined by L.D. Salmanson, who comes to the firm as a Director in the
Private Shares Group. Boaz will be based in New York and L.D. will be based
in Boston.

Boaz and L.D. had previously established Greencrest Capital, a leading
advisory firm that successfully provided liquidity solutions for private
companies and their shareholders. At Oppenheimer, the Private Shares Group
will work alongside Technology and other Investment Banking Industry Groups to
specifically target the large number of venture capital backed and founder
owned companies that have liquidity and other capital needs.

"We believe this dedicated product group provides a significant opportunity
for Oppenheimer to deepen its relationships with private companies, and their
venture capital owners, as they consider long-term monetization options" said
Marc Thompson, Co-Head of Investment Banking and Head of Technology for
Oppenheimer. "The team also brings a large number of buy-side relationships
which will be greatly enhanced by working closely with our industry and
capital markets professionals."

Boaz has over 20 years of investment experience, portfolio management, and new
product development. Formerly the Chief Economist for the Government of
Israel Ministry of Finance in New York, Boaz was one of the first investment
professionals to launch a complex of specialized index funds, which allowed
investors to gain exposure to unique market segments. He has held senior
managerial positions in various Wall Street firms including Greencrest
Capital, Knight Capital, Northeast Securities and AMIDEX Funds. Mr. Rahav has
a business degree from Tel Aviv College of Business and an MBA from the New
York Institute of Technology.

Mr. Salmanson has over ten years of experience in working with private and
public technology companies as Director and Principal at The Salmanson Fund,
responsible for origination and execution of Primary and Secondary investments
in TMT companies. Mr. Salmanson received a B.A. in Finance, an LL.B. in
Commercial Law, an LL.M. in International Commercial Law from IDC Herzliya in
Israel, as well as an MBA from the University of Pennsylvania Wharton School.

"We're excited to establish the Private Shares Group as it instantly
strengthens our Technology Group's ability to better serve its extensive
client base by delivering a more expansive suite of banking products," said
Bruce McCarthy, Co-Head of Investment Banking and Head of M&A.

"I am very excited about our team joining Oppenheimer. It's one of the leading
investment banks in the Technology sector with a long history of working with
some of the fastest growing emerging technology companies around the globe,"
says Boaz. "Oppenheimer offers its clients tremendous industry insight
combined with a full breadth of products and resources to support and advise
premier Technology companies."

Oppenheimer & Co. Inc. (Oppenheimer), a principal subsidiary of Oppenheimer
Holdings Inc. (OPY on the New York Stock Exchange), provides 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. For more information about Oppenheimer, please
visit our website at www.opco.com

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.

SOURCE Oppenheimer & Co. Inc.

Website: http://www.opco.com
Contact: Stefan Prelog, WalekPeppercomm, (212) 931-6139,
sprelog@peppercomm.com
 
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