Robert Lowenthal, who is currently senior managing director and head of investment banking at Oppenheimer Holdings, has been appointed to the newly created position of president of both Oppenheimer Holdings, an investment bank and wealth manager, and Oppenheimer & Co., the company’s broker-dealer subsidiary, Oppenheimer announced today.

Lowenthal’s appointment to this role, effective immediately, recognizes his leading role at the firm where he has built and led multiple business divisions; established the core infrastructure and systems to support accelerated performance and scale; developed the global talent base to create effective teams throughout the firm; and played a central role in driving the firm’s strategy for growth, Oppenheimer said in a statement. Lowenthal, 45, rebuilt the firm’s investment banking division, resulting in record-breaking performance. He will continue in his role as head of investment banking.

Lowenthal’s 23-year career at Oppenheimer began with his leadership of the firm’s technology group, where he integrated key systems across the firm while also implementing critical platforms that enabled the firm to digitize and scale its operations, facilitating its strong growth in subsequent years, Oppenheimer said. He also spearheaded the successful integration of several firms acquired by Oppenheimer.

He was subsequently promoted to lead the firm’s fixed-income business, taking over in the midst of the financial crisis in 2008. Despite the difficult economic climate, he made thoughtful investments in the group’s personnel and capabilities during this time, leading to the establishment of a business unit that consistently contributed over $100 million in revenue, the firm said.

In 2016, he assumed leadership of Oppenheimer’s investment banking businesses, significantly accelerating the strategic growth and performance of the division. Under his direction, revenues from investment banking have surged from $81 million in 2016 to more than $400 million on an annualized basis for 2021.

“Under Lowenthal’s direction, Oppenheimer’s ongoing, focused expansion of investment banking capabilities across high-growth and disruptive industry verticals, such as Healthcare and Technology, coupled with continual investment in its leading equity capital markets and advisory resources, have been primary drivers of the firm’s record-setting investment banking results,” the firm said.

“Central to Lowenthal’s contribution has been his ability to attract and develop exceptional talent, expanding the investment banking division to include over 160 professionals, with many of the additions to the team being widely known and respected leaders in their respective fields,” the firm said.

Driven by robust demand for investment banking services and the strong performance of the firm’s Wealth Management business, Oppenheimer’s results for the nine months ended Sept. 30, were the strongest in its history, Oppenheimer said. He has been a member of the board of directors since 2013.

“Oppenheimer’s board and senior management team wanted an exceptional leader who thoroughly understands the Oppenheimer culture and has a clear track record of driving growth by building businesses, developing powerful teams with top-tier talent and embracing innovation. Without question, Rob Lowenthal fits the bill,” Paul Friedman, lead director of Oppenheimer’s board of directors, said in a statement.