The other small US bank hiring London MDs in a down market
Jefferies likes to stock up with new banking talent in difficult markets when "great talent realizes there might be a better home...". So does Moelis & Co. So does Oppenheimer & Co, except in smaller numbers and with less fanfare.
Based in the US, Oppenheimer has been in Europe since 2009, when it acquired CIBC's capital markets business. It had six people at the time, but now employs nearly 100 people in its international division, which spans offices in London, Hong Kong and Tel Aviv and is run by Max Lami, a jovial former equities banker from Goldman Sachs and Bear Stearns.
Oppenheimer declined to comment for this article but sources say the bank has been quietly shoring up its presence in Europe as part of a deliberate technique of hiring during downturns. This summer it availed itself of three new managing directors: Chris Malcolm, Mark Kingston and Leigh Webb, all from the leaky new bank that is Cavendish.
Hiring MDs is usually a catalyst for hiring associates and VPs, who are likely to follow.
Oppenheimer's investment banking business is mainly focused on growth companies and innovation. Junior bankers who would join in London should know that they will be mostly expected in the office every day, although there might be some flexibility on a Friday.
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