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Oppenheimer Holdings Executive Compensation (FY25)

OPY · Executive and director compensation, fiscal 2022 to 2025
Latest say-on-pay support
=
May 4, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of November 5, 2026Latest filing (8-K): May 5, 2026
8 filings cited on this page
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Oppenheimer Holdings brief$500Get the executive brief
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190 figures on this page: 186 cited to the filing that reported them, 4 calculated from figures it prints. See the citations
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Robert Lowenthal: $8,051,800 → $9,546,400 (18.6% higher)
CEO pay ratio: 26:1 → 48:1 (84.6% higher)

Frequently asked questions

Answers drawn from the data on this page.
What was Oppenheimer Holdings' say-on-pay result?
Shareholders recorded 100.0% support for the say-on-pay proposal at the meeting held May 4, 2026 for fiscal 2025.
Which companies are in Oppenheimer Holdings' peer group?
The disclosed peer group names B. Riley Financial Inc., Bank of America Corporation, Barclays PLC, Citigroup Inc. and Deutsche Bank AG, among others. The Boutique and Mid-Size Financial Services Peers names B. Riley Financial Inc., Evercore Inc., Houlihan Lokey Inc., Lazard Inc. and Moelis & Company, among others. The Large Financial Institutions includes Bank of America Corporation, Citigroup Inc., Deutsche Bank AG, Goldman Sachs Group, Inc. and JP Morgan Chase & Co., among others.
What is Oppenheimer Holdings' chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 48:1, against median employee compensation of $174,000.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Albert Lowenthal
Chairman, CEO and Director of the Company
◇—◇—◇◇◇◇
Robert Lowenthal
Director of the Company, President and Head of Investment Banking business
◇—◇—◇◇—◇
P Albano
Senior Managing Director and Head of
◇◇◇————◇
B McKigney
President of Oppenheimer Asset
◇◇◇————◇
Brad Watkins
CFO of the Company and Executive Vice President and CFO of
◇◇◇————◇
S Agosta
Interim CFO of the
Served on an interim basis
◇◇—————◇
J Alfano
CFO of the Company and Executive Vice President and CFO of
◇——————◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Robert Lowenthal
CEO and Director of the Company and CEO of Oppenheimer & Co. Inc.
◇—◇—◇◇◇◇
Albert Lowenthal
Chairman and Director of the Company and Executive Chairman of Oppenheimer & Co. Inc.
◇—◇—◇◇◇◇
P Albano
Senior Managing Director and Head of Oppenheimer & Co. Inc.’s Fixed Income Business
◇◇◇———◇◇
E Harrington
Senior Managing Director and Head of Oppenheimer & Co. Inc.’s Private Client Division
◇◇◇————◇
Brad Watkins
CFO of the Company and Executive Vice President and CFO of Oppenheimer & Co. Inc.
◇◇◇————◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Robert Lowenthal
Chairman, CEO and Director of the Company and Oppenheimer & Co. Inc.
◇—◇—◇—◇◇
P Albano
Senior Managing Director and Head of Oppenheimer & Co. Inc.’s Fixed Income Business
◇◇◇———◇◇
Albert Lowenthal
Chairman, CEO and Director of the Company and Oppenheimer & Co. Inc.
◇—◇—◇—◇◇
E Harrington
Senior Managing Director and Head of Oppenheimer & Co. Inc.’s Private Client Division
◇◇◇———◇◇
Brian McKigney
President of Oppenheimer Asset Management Inc.
◇◇◇———◇◇
Brad Watkins
CFO of the Company and Executive Vice President and CFO of Oppenheimer & Co. Inc.
◇◇◇———◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Robert Lowenthal
CEO and Director of the Company and CEO of Oppenheimer & Co. Inc.
◇—◇—◇—◇◇
Albert Lowenthal
Chairman and Director of the Company and Executive Chairman of Oppenheimer & Co. Inc.
◇—◇—◇—◇◇
P Albano
Senior Managing Director and Head of Oppenheimer & Co. Inc.’s Fixed Income Business
◇◇◇———◇◇
E Harrington
Senior Managing Director and Head of Oppenheimer & Co. Inc.’s Private Client Division
◇◇◇———◇◇
Brad Watkins
CFO of the Company and Executive Vice President and CFO of Oppenheimer & Co. Inc.
◇◇◇———◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Albert LowenthalRSA◇——◇——◇
Brad WatkinsRSA——————◇
Robert LowenthalRSA◇——◇——◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Albert LowenthalRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Robert LowenthalRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Brad WatkinsRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Paul M. Friedman
Lead independent director
◇◇————◇
Timothy M. Dwyer
◇◇————◇
R. Lawrence Roth
◇◇————◇
Stacy J. Kanter
◇◇————◇
Evan Behrens
◇◇————◇
Teresa A. Glasser
◇◇————◇
Suzanne E. Spaulding
◇◇————◇
Robert S. Lowenthal and Albert G. Lowenthal served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board chair premium◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Nominating and governance chair◇
Board meeting fee◇
Committee meeting fee◇
Equity is delivered as restricted stock units.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • B. Riley Financial Inc. symbol not shown
  • Bank of America Corporation BAC
  • Barclays PLC BCS
  • Citigroup Inc. C
  • Deutsche Bank AG DB
  • Evercore Inc. EVR
  • Goldman Sachs Group, Inc. GS
  • Houlihan Lokey Inc. HLI
  • Jeffries Financial Group Inc. symbol not shown
  • JP Morgan Chase & Co. symbol not shown
  • Lazard Inc. LAZ
  • Moelis & Company MC
  • Perella Weinberg Partners PWP
  • Piper Sandler & Co. PIPR
  • PJT Partners Inc. PJT
  • Raymond James Financial, Inc. RJF
  • Stifel Financial Corp. SF
  • UBS Group AG UBS
Boutique and Mid-Size Financial Services Peers
  • B. Riley Financial Inc. RILY
  • Evercore Inc. EVR
  • Houlihan Lokey Inc. HLI
  • Lazard Inc. LAZ
  • Moelis & Company MC
  • Perella Weinberg Partners PWP
  • Piper Sandler & Co. PIPR
  • PJT Partners Inc. PJT
  • Raymond James Financial, Inc. RJF
  • Stifel Financial Corp. SF
Large Financial Institutions
  • Bank of America Corporation BAC
  • Citigroup Inc. C
  • Deutsche Bank AG DB
  • Goldman Sachs Group, Inc. GS
  • JP Morgan Chase & Co. JPM
  • Morgan Stanley MS
  • UBS Group AG UBS

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 4, 2026=◇◇◇
2022May 8, 2023=◇◇◇
2019May 11, 2020=◇◇◇
2016May 8, 2017=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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Sample answer — “What is the CEO’s total compensation?”
- Robert Lowenthal (CEO and Director of the Company and CEO of Oppenheimer & Co. Inc.), FY2025 total compensation $9,546,400 (base salary $500,000) [exec_comp, SEC accession 0001104659-26-027365, filed 2026-03-13]

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What this page does not include

Everything above is a fact Oppenheimer Holdings disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Oppenheimer Holdings sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
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Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
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Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
190 figures on this page: 186 cited to the filing that reported them, 4 calculated from figures it prints.
186 cited to the filing
4 calculated from the filing

Documents cited

  1. 0001628280-26-030194
  2. 0001104659-26-027365
    2025 DIRECTOR COMPENSATION TABLE · Grants of Plan-Based Awards For the Year Ended December 31, 2025 · Median Employee · Summary Compensation Table
  3. 0001104659-25-023748
  4. 0001104659-24-034972
    SUMMARY COMPENSATION TABLE · SUMMARY COMPENSATION TABLE For the Year Ended December 31, 2023
  5. 0000791963-23-000026
  6. 0001104659-23-033854
  7. 0000791963-20-000016
  8. 0001104659-17-031098
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Velarion, “Oppenheimer Holdings executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/OPY (accessed 2026).
Short form: data: Velarion

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8 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Peers Oppenheimer Holdings discloses

The companies named in OPY's own disclosed peer group.

Bank of America CorporationCitigroup Inc.Evercore Inc.Goldman Sachs Group, Inc.Houlihan Lokey Inc.Lazard Inc.Moelis & CompanyPerella Weinberg PartnersPiper Sandler & Co.PJT Partners Inc.Raymond James Financial, Inc.Stifel Financial Corp.B. Riley Financial Inc.JP Morgan Chase & Co.Morgan Stanley

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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