Governor Hochul Announces Oppenheimer Holdings Inc. to Establish New $66 Million Manhattan Headquarters, Retaining More Than 1,000 Jobs

Governor Kathy Hochul today announced that Oppenheimer Holdings Inc., a leading global investment banking and wealth management firm, will establish a new $66 million headquarters in Lower Manhattan, reinforcing its longstanding commitment to New York City and retaining 1,001 full-time jobs. The company will relocate from its current headquarters at85 Broad Street to approximately 220,000 square feet of modern office space at32 Old Slip in the Financial District. The investment will support extensive renovations and improvements to the new facility, providing the infrastructure needed to accommodate Oppenheimer's comprehensive operations. The decision builds on the firm's nearly 145-year history in New York City and further strengthens the state's position as a global leader in financial services.

"Oppenheimer's decision to stay and grow in Manhattan is a win for New York, retaining more than 1,000 quality jobs in a modern, new headquarters, representing a $66 million investment," said Governor Kathy Hochul. "This commitment sends a clear message that there is no better place to do business than New York. We have the talent, the access to global markets and resources companies need to compete, innovate and grow. We have always led the way, and we are building an even stronger future."

Empire State Development President, CEO and Commissioner Hope Knight said, "Oppenheimer's next chapter in New York City underscores the strength and resilience of our financial services industry. Under Governor Hochul's leadership, New York is building on that foundation by ensuring established businesses have every reason to invest, expand and succeed here. ESD is proud to support this significant investment, which will bring new energy to Lower Manhattan and strengthen the Financial District's economic future."

Oppenheimer Holdings Inc. President and CEO Robert Lowenthal said, "Keeping our global headquarters in Lower Manhattan was a natural choice for us. Our business traces its roots to 2 Wall Street in 1881, just blocks from our new home at 32 Old Slip. What keeps us here today is the ability to draw on New York's deep pool of talent and its culture of innovation across financial markets."

New York City Mayor Zohran Kwame Mamdani said, "Oppenheimer's new lease means more than 1,000 jobs will remain in Lower Manhattan. Those paychecks support families, and they support the restaurants, shops and small businesses downtown that depend on workers coming through the door. The talent of New York's workforce is the reason employers want to do business here, and our administration will keep working with companies that want to hire and grow in this city."

New York City Economic Development Corporation (NYCEDC) President & CEO Anthony Shorris said, "We're very pleased that Oppenheimer, one of New York's longstanding financial institutions, is committing its future to the Financial District with a new lease - a move that will sustain good jobs for New Yorkers. Oppenheimer's decision highlights a continued confidence in Lower Manhattan and cements New York City as the premier place to do business."

Oppenheimer Holdings Inc. traces its origins to 1881, when its predecessor firm, Fahnestock & Co., was established as a Wall Street brokerage house. Today, the company is a leading middle-market investment bank and full-service wealth management firm, offering a comprehensive range of financial services, including investment banking, capital markets and wealth management. The firm serves individual, corporate and institutional clients through a global network of offices. Throughout its history, Oppenheimer has maintained its headquarters in New York City, supporting generations of financial services professionals and contributing to the city's position as a center of global commerce and investment.

The company's relocation to32 Old Slip will establish a modern headquarters designed to meet its evolving operational needs while preserving its longstanding presence in Manhattan's Financial District. The approximately $66 million investment, by RXR and Oppenheimer, will support the renovation and fit-out of roughly 220,000 square feet of office space, including improvements to trading infrastructure, collaborative workspaces, client facilities and other essential business operations. The project will retain over 1,000 full-time headquarters positions in New York City, sustaining high-quality employment across the firm's financial services, technology, compliance, operations and administrative functions. To support Oppenheimer's significant capital investment, Empire State Development has awarded the company a $3.2 million capital grant.

New York City is home to one of the world's leading financial services industries, supported by a deep talent pool, world-class institutions and a dynamic network of businesses and investors. From established Wall Street firms to emerging financial technology companies, the sector plays a vital role in driving economic growth and creating opportunities across the state. Under Governor Hochul's leadership, New York continues to strengthen its competitive advantages through investments in workforce development, business growth and the infrastructure needed to support a modern economy. Oppenheimer's new headquarters builds on these efforts, reinforcing the Financial District's longstanding role as a center of global commerce while supporting the continued economic vitality of Lower Manhattan.