McKigney has worked at Oppenheimer for 20 years, holding the role of chief operating officer of OAM for virtually that entire period. It is unclear if he will retain this role.

He will be based in Oppenheimer's New York City headquarters.

Family Wealth Report has contacted the firm to ascertain if the president role is new or if McKigney replaces anyone.

Oppenheimer & Co (Oppenheimer) and its affiliates provide wealth management, securities brokerage and investment banking services to high net worth individuals, families, corporate executives, local governments, businesses and institutions.