Oppenheimer elevates David Fleming to expanded leadership role in Private Client Division

Oppenheimer & Co. Inc. has promoted David Fleming into a senior leadership position within its Private Client Division, part of a broader leadership realignment as the firm builds on recent momentum.

Fleming, who will be based in New York, will report to Ed Harrington, Executive Vice President and head of the Private Client Division. In his new role, he will supervise branches across select markets, working alongside regional and branch leaders to drive business growth, improve team performance, and support advisor recruitment.

As part of the transition, Ron Guidi will step in as branch manager in San Francisco, succeeding Fleming. Guidi will be responsible for daily operations while focusing on expanding the firm’s footprint in the Bay Area.

The leadership updates follow a period of strong expansion for Oppenheimer’s Private Client Division. In 2025, the firm’s Wealth Management business generated more than $1 billion in revenue. Assets under management climbed to a record $55.2 billion, while assets under administration reached $143.3 billion as of year-end.

"Dave has done an outstanding job leading our San Francisco office, and this promotion reflects the confidence we have in his ability to shape the next chapter of growth across the Private Client Division," Harrington said. "He brings credibility with advisors, strong business judgment, and a clear understanding of what it takes to build high-performing branches and advisory teams. At the same time, we are excited to welcome Ron, a seasoned leader with deep roots in the Bay Area, and we believe he will continue the momentum Dave created in that office."

Fleming joined the firm in 2022 to lead its San Francisco office, where he oversaw significant gains. During his tenure, branch revenue increased by 36% and assets rose by 34%, alongside the addition of seven advisors. His three-decade career includes roles advising high-net-worth clients and corporate executives at firms such as Stifel, Barclays, Deutsche Bank, Credit Suisse and Donaldson, Lufkin & Jenrette.

"While I'm excited to take on this new role, I'm also pleased to welcome Ron to Oppenheimer and know the San Francisco branch will be in excellent hands," Fleming said. "Having worked with Ron in the past, I saw firsthand that he is a smart, responsive, and highly respected leader who shares our focus on client success, advisor growth, and culture. He knows the Bay Area well, and I'm confident he will be a great fit for both the branch and the broader community."

Guidi brings more than 26 years of experience advising high-net-worth individuals and senior executives, with prior roles at Rockefeller Capital Management, Deutsche Bank and Robertson Stephens. He holds an undergraduate degree from Sonoma State University and an MBA from John F. Kennedy University.

Robert Lowenthal, President and CEO of Oppenheimer, said the appointments underscore the firm’s focus on strengthening its advisor base and leadership bench.

"The continued strength of our Private Client Division is a direct result of the quality of our advisors and the leadership within our branches," said Robert Lowenthal, President and CEO of Oppenheimer. "These changes reflect our commitment to the firm's culture and our investment in the people needed to support our advisors and deepen our relationships in key markets."