Oppenheimer to invest $66 million in new Manhattan headquarters and keep more than 1,000 jobs

New York Governor Kathy Hochul announced on Monday that Oppenheimer Holdings Inc. will establish a new headquarters in Lower Manhattan with a $66 million investment, a decision that preserves 1,001 full-time jobs in the city.

The investment banking and wealth management firm will move from its current headquarters at 85 Broad Street to modern offices of about 220,000 square feet at 32 Old Slip, in the Financial District. The investment will fund extensive renovations and upgrades, including trading-floor infrastructure, collaborative workspaces and client facilities.

"Oppenheimer's decision to stay and expand in Manhattan is a win for New York," Hochul said, adding that the commitment sends a clear message that there is no better place to do business. To support the investment, Empire State Development awarded the company a $3.2 million grant.

Oppenheimer Chairman and CEO Robert Lowenthal said keeping the global headquarters in Lower Manhattan was a natural choice: the firm's roots go back to 1881, at 2 Wall Street, just a few blocks from its new location. Mayor Zohran Mamdani welcomed the jobs staying in the city and supporting downtown restaurants, shops and small businesses.

Photo: New York State Government

Source: EIN Presswire