Oppenheimer Accelerates Growth of Consumer Investment Banking Group with Appointment of James Murray as Managing Director, Based in London, United Kingdom - Canada NewsWire | Canada News Media
Oppenheimer Accelerates Growth of Consumer Investment Banking Group with Appointment of James Murray as Managing Director, Based in London, United Kingdom – Canada NewsWire
NEW YORK and LONDON, Nov. 16, 2020 /CNW/ — Oppenheimer & Co. Inc. (“Oppenheimer”), a leading investment bank, wealth manager, and a subsidiary of Oppenheimer Holdings (NYSE: OPY), today announced the continued build-out of the leadership team within the Consumer Group of its investment banking business. Oppenheimer is pleased to announce the appointment of James Murray as a Managing Director within its Global Consumer Investment Banking Group. James will be based in London and report to Max Lami, European Chief Executive, and Emmanuel Durand, Global Head of Consumer Investment Banking.
James joins Oppenheimer with over 20 years’ experience in providing strategic advice to an extensive range of consumer clients. He will be focused on both the UK and the Continent and will work closely with Jeroen Van Den Heuvel, Managing Director in the Consumer Investment Banking Group. Together, Mr. Murray and Mr. Van Den Heuvel bring more than 40 years of collective mergers & acquisitions (“M&A”) and capital raising experience in the Consumer sector.
James holds an MBA from Imperial College, London and an MA from The University of St Andrews.
James started his investment banking career at Rothschild & Co in London, and prior to joining Oppenheimer was a Partner and Head of Consumer M&A at KPMG. James has advised on over 50Bn USD worth of closed transactions, representing private and public companies, entrepreneurs and private equity clients.
Mr. Durand said, “We are thrilled to welcome James to our global team. His respected industry insight, experience and relationships in the Consumer sector complement those of Jeroen van den Heuvel. He will enhance Oppenheimer’s capabilities in the U.K. and in continental Europe. James will also be instrumental, together with Jeroen, in further consolidating our well established cross-border capabilities, notably strengthening the bridge with the US Consumer team.”
Mr. Lami added, “Oppenheimer is committed to the continued expansion of its Investment Banking capabilities in Europe and to servicing the needs of its clients by providing coverage across different geographies on an integrated basis. We are thrilled to be able to strengthen our business with James’ appointment to our team.”
Oppenheimer & Co. Inc. 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. For more information, please visit www.oppenheimer.com.
Oppenheimer Europe Limited Oppenheimer Europe Limited is authorised and regulated by the Financial Conduct Authority and a Member firm of the LSE, providing advice to professional clients across Equities, Fixed Income and Corporate finance advisory. For more information please visit www.oppenheimer.com.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
