Oppenheimer Holdings, Inc. · NYSE:OPY
Oppenheimer — Shareholder Meeting (May 2017)
17 slides from Oppenheimer's shareholder meeting presentation, May 9, 2017
Slide 1: Welcome to Oppenheimer's 2017 Annual Stockholders' Meeting
2 WELCOME to Oppenheimer’s 2017 Annual Stockholders’ Meeting May 8, 2017
Slide 2: Safe Harbor Statement
Safe Harbor Statement 3 This presentation and other written or oral statements made from time to time by representatives of Oppenheimer Holdings Inc. (the “company”) may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E
Slide 3: Current Environment
Current Environment 4 Economic growth – U.S. slow growth continues. Conditions in Europe improving; Asia flat Oil Prices have stabilized in mid 40’s to 50; U.S. production increasing; metals (copper) improving with increase in industrial production Interest rate environment – U.S. short term rates o
Slide 4: Overview
Overview 5 Oppenheimer & Co. Inc. 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. Quick Facts Wealth Management Private client services and asset management solutions tail
Slide 5: 2017 First Quarter: Key Takeaways
2017 First Quarter: Key Takeaways 6 Oppenheimer continued to make meaningful progress during the first quarter with increased hiring of financial advisers and stronger results in investment banking Higher M&A advisory fees helped offset the continued weakness in the U.S. equities underwriting market
Slide 6: 2017 First Quarter: Revenue Breakdown
2017 First Quarter: Revenue Breakdown 8 Business Segment Results For the 3-Months Ended ('000s) 3/31/17 3/31/16 % Change Revenue Wealth Management(1) $ 156,055 $ 150,518 3.7 Capital Markets 55,903 61,065 (8.5) Corporate-Other 1,303 3,373 (61.4) 213,261 214,956 (0.8) Pre-tax Income/(Loss) Wealth Mana
Slide 7: 2016 Financial Results
2016 Financial Results 9 Total Revenue: $883.1M (1)Wealth Management represents the Private Client and Asset Management business segments (1) Snapshot Shareholders' Equity at 12/31/16 (‘000s) $513,334 Book-value per share at 12/31/16 $38.22 Tangible Book-value per share at 12/31/16 $25.53 Market Cap
Slide 8: Capital Structure as of December 31, 2016
Capital Structure as of December 31, 2016 10 Conservative Risk Profile Straight-forward balance sheet Level 3 assets represent 3.9% of total assets (primarily ARS) Regulatory Net Capital of $142.5M Regulatory Excess Net Capital of $122.1M 2016 VaR (Value at Risk) average of $885 thousand ($ in thous
Slide 9: Oppenheimer Focus
11 Oppenheimer Focus Our core values and our culture are the most important and enduring strength of this firm. As we stay true to our principles, always doing what is right and best for our clients, then in the best and worst of times, we can feel justly proud of our efforts. As we make the changes
Slide 10: 2016 Revenue Breakdown
2016 Revenue Breakdown 12 (1)Wealth Management represents the Private Client and Asset Management business segments (2)Primarily includes compensation and benefits related to corporate support functions including, but not limited to, legal, compliance, operations, accounting, and internal audit (3)R
Slide 11: Wealth Management
Wealth Management 13 Wealth Management represents the Private Client and Asset Management business segments Provide a full range of products and services to clients to meet their complex and evolving financial needs Position business for generational transfer of wealth Increased focus on regulatory
Slide 12: Wealth Management Advisory Fees and Assets
Wealth Management 14 Advisory Fees as a Percentage of Wealth Management Advisory Fees and Commissions Assets Under Administration ($B) Assets Under Management ($B) ($B) ($B) 80.3 84.6 87.3 78.7 77.2 50 55 60 65 70 75 80 85 90 2012 2013 2014 2015 2016 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% - 100
Slide 13: Wealth Management Interest and Fee Revenues
15 Wealth Management Interest and Fee Revenues ($M) Over the last several years low interest rates have had significant impact on interest and fee revenues Firm’s interest rate sensitive products: Cash sweep balances Margin lending Spread lending (Securities Lending and Repo’s) Firm investments (Auc
Slide 14: Capital Markets Revenue and Operating Profit
Total Revenue(1) ($M) Capital Markets 16 Institutional Equities Sales & Trading Equity Research Corporate Access Institutional Fixed Income Taxable Fixed Income Non-Taxable Fixed Income Investment Banking Public Finance Capital Markets Operating Profit(1,2) ($M) Capital Markets Revenue Breakdown FY
Slide 15: Select Financial Measures
17 Select Financial Measures Book Value Earnings per Share ($) Return on Equity Pretax Margin (%) - 0.27 1.77 0.62 0.14 - 0.18 - 0.27 1.85 0.65 0.14 - 0.18 -0.50 0.00 0.50 1.00 1.50 2.00 2012 2013 2014 2015 2016 EPS - diluted EPS - basic $24.34 $26.19 $26.27 $26.13 $25.53 $36.80 $38.77 $38.71 $38.84
Slide 16: Thank You
Thank You Oppenheimer Holdings Inc.
Slide 17: Oppenheimer Holdings Inc.
Oppenheimer Holdings Inc. Thank You ()PPENHEIMER
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