Oppenheimer Holdings, Inc. · NYSE:OPY
Oppenheimer — Shareholder Meeting (May 2023)
20 slides from Oppenheimer's shareholder meeting presentation, May 9, 2023
Slide 1: Annual Stockholders' Meeting
Annual Stockholders’ Meeting New York, NY May 8, 2023 Oppenheimer Holdings Inc.
Slide 2: Welcome to Oppenheimer's 2023 Annual Stockholders' Meeting
WELCOME to Oppenheimer’s 2023 Annual Stockholders’ Meeting May 8, 2023 2
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation and other written or oral statements made from time to time by representatives of Oppenheimer Holdings Inc. ("Oppenheimer” or the “company”) may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, a
Slide 4: Oppenheimer's New Brand Campaign Emphasizes The Power of Oppenheimer Thinking
Our brand campaign has recently launched, with full-page ads appearing in Barron’s and The Wall Street Journal, and radio spots are running on Bloomberg & CNBC radio. Additional elements of our campaign will continue through the fall. Oppenheimer’s New Brand Campaign Emphasizes The Power of Oppenhei
Slide 5: Business Overview
Business Overview 5 Oppenheimer is a leading investment bank and full-service investment firm that provides financial services and advice to high net worth investors, individuals, businesses and institutions. Wealth Management Private client services and asset management solutions tailored to indivi
Slide 6: Global Footprint
Global Footprint 6 Europe 92 retail branches in the U.S. 6 international offices 2,793 employees – 959 financial advisors – 185+ institutional sales professionals – 38 senior research analysts US London Hong Kong Tel Aviv Geneva St. Helier Frankfurt Wealth Management Institutional Equities
Slide 7: Summary Operating Results: 2022 vs. 2021
Earnings per share (Basic) $ 2.77 $ 12.57 -78.0% Earnings per share (Diluted) $ 2.57 $ 11.70 -78.0% Summary Operating Results: 2022 vs. 2021 (Unaudited) 7 Highlights ($000’s) For the 12-Months Ended REVENUE 12/31/22 12/31/21 % Change Commissions $370,382 $401,607 -7.8% Advisory fees 425,615 451,197
Slide 8: Summary Operating Results: 1Q-23 vs. 1Q-22
Earnings per share (Basic) $ 1.32 $ 0.75 76.0% Earnings per share (Diluted) $ 1.22 $ 0.69 76.8% Summary Operating Results: 1Q-23 vs. 1Q-22 (Unaudited) 8 Highlights ($000’s) For the 3-Months Ended REVENUE 3/31/23 3/31/22 % Change Commissions $86,697 $98,321 -11.8% Advisory fees 100,544 115,766 -13.1%
Slide 9: Select Financial Measures
Select Financial Measures Earnings per Share ($) Net Income ($M)Revenue ($M) Shareholders’ Equity ($M) 1,033.4 1,198.7 1,394.0 1,110.9 266.0 321.7 2019 2020 2021 2022 1Q-22 1Q-23 53.0 123.0 159.0 32.4 9.3 14.6 2019 2020 2021 2022 1Q-22 1Q-23 3.82 9.30 11.70 2.57 0.69 1.22 2019 2020 2021 2022 1Q-22 1
Slide 10: OPY Historical Stock Price
OPY Historical Stock Price 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 $0.00 $10.00 $20.00 $30.00 $40.00 $50.00 $60.00 01 /0 2/ 20 02 /0 2/ 20 03 /0 2/ 20 04 /0 2/ 20 05 /0 2/ 20 06 /0 2/ 20 07 /0 2/ 20 08 /0 2/ 20 09 /0 2/ 20 10 /0 2/ 20 11 /0 2/ 20 12 /0 2/ 20 01 /0 2/ 21 02
Slide 11: Capital Structure
Capital Structure Book & Tangible Book Value per Share ($) Liquidity & Capital (1) Total Assets divided by Total Stockholders' Equity. Stockholders’ equity of $800.4 million as of March 31, 2023 Book value ($72.27) and tangible book value ($56.92) per share increased from the prior year period l
Slide 12: OPY Corporate Class A Buyback Activity
OPY Corporate Class A Buyback Activity 12 Average Price Amount Paid ($M) Shares Shares Outstanding (M) 236,122 323,249 718,522 177,192 1,684,287 95,055 2018 2019 2020 2021 2022 1Q-23 $24.96 $25.99 $20.94 $43.67 $36.00 $38.79 $5.90 $8.40 $15.05 $7.74 $60.64 $3.69 13.0 12.8 12.4 12.6 11.0 11.1
Slide 13: Interest and Fee Revenue
Interest and Fee Revenue 13 Interest and Fee Revenue ($M) Margin LendingFDIC Insured Bank Deposit Program Credit extended to clients on a collateralized basis Average customer margin debits were $1,215 million for TTM 3/31/23 Margin interest revenue of $61.3 million for TTM 3/31/23 Client fu
Slide 14: Segment Revenue Breakdown: 2022 vs. 2021
Segment Revenue Breakdown: 2022 vs. 2021 14 Pre-Tax Income Breakdown by Segment ($M)Revenue Breakdown by Segment ($M) Private Client Asset Management Capital Markets $675.7 61% $99.2 9% $337.8 30% Sweep Income / Interest $156.4 $(1.8) Corp/Other 2022 $1,111M 2021 $1,394M 665.1 48% 104.6 8% 625.7 45%
Slide 15: Segment Revenue Breakdown 1Q-23 vs. 1Q-22
Segment Revenue Breakdown 1Q-23 vs. 1Q-22 Pre-Tax Income Breakdown by Segment ($M)Revenue Breakdown by Segment ($M) Private Client Asset Management Capital Markets 1Q-23 Revenue $321.7M 1Q-22 Revenue $266.0M $(15.5) $6.5 $1.2 $9.5 $24.1 1Q-22 1Q-22 1Q-22 1Q-23 1Q-23 1Q-23 203.4 63% 27.1 10% 85.1 32%
Slide 16: Leading Wealth Management Platform
Leading Wealth Management Platform 16 Wealth Management Services Retail services: – Full-Service Brokerage – Financial Planning, Retirement Services, Corporate & Executive Services, and Trust Services – Margin & Securities Lending Advisory Services: – Investment Policy Design & Implementation –
Slide 17: Wealth Management Metrics
Wealth Management Metrics 17 Client Assets Under Administration ($B) Client Assets Under Management ($B) Advisory Fees as a Percentage of Wealth Management Advisory Fees and Commissions Sustained shift to Fee-Based Revenue 91.0 104.8 122.1 105.0 117.2 108.9 2019 2020 2021 2022 1Q-22 1Q-23 64.4% 66.0
Slide 18: Capital Markets
3.4% Sales & Trading Revenues 1Q-23 vs 1Q-22 Capital Markets A leading capital markets business providing sophisticated investment banking, research and trading solutions Healthcare Technology Transportation & Logistics Finance & Real Estate Consumer & Retail Energy Capital Markets Revenue Breakdo
Slide 19: Summary
Summary 19 Investing in our future and poised for growth Our balance sheet remains well-capitalized with low overall leverage and regulatory capital far in excess of required minimums Interest rate-sensitive businesses poised to continue do well in a rising interest rate environment (margin lending
Slide 20: The Power of Oppenheimer Thinking
The Power of (_)PPENHEIMER Thinking Wealth Management | Capital Markets | Investment Banking
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