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Deals & People March 13, 2009
Oppenheimer Welcomes Ex-Stanford Advisers
Oppenheimer&Co. is opening and expanding branches with financial advisers formerly associated with the Stanford Group.
Reported by Fred Schneyer
According to a news release, the new offices will be in Florida, North Carolina, Tennessee, and Virginia. The compnay will expand branches in those states and Texas.
The announcement said that the company had met with the advisers formerly connected to Stanford (see “Another Billion-Dollar Investment Advisory Fraud Unfolds“) and decided to move ahead with bringing them to Oppenheimer.
“After reviewing available information and meeting with these advisers, Oppenheimer has concluded that those financial advisers to whom it made offers of employment run solid and diversified practices and cater to the type of affluent client that are the hallmark of our firm,” Oppenheimer said in the news release. “These individuals have had extensive experience in the securities industry and, prior to moving to Stanford, were previously associated with well-recognized securities firms.”