Oppenheimer Holdings Inc. said it has closed its deal to acquire a majority of CIBC World Markets' U.S. capital markets businesses, including related Israeli investment banking and equities business, from Canadian Imperial Bank of Commerce.
The acquisition of related operations in Asia and the United Kingdom is expected to close at a later time and is subject to regulatory approval, Oppenheimer said Monday.
The U.S. and Israeli businesses employ over 600 people and include CIBC World Markets' U.S. investment banking, corporate syndicate, institutional sales and trading, equity research, options trading, and a portion of the debt capital markets business, which includes convertible bond trading, loan syndication, high-yield origination and trading, and foreign operations.
Oppenheimer offers investment banking, securities, investment management, and wealth management products and services from 86 offices in 21 states and through local broker-dealers in three foreign countries.
