Oppenheimer 60th Anniversary - 13

<< UP CLOSE

The Right Way: A Culture Of Colleagues
Working and Growing Together

CREDIT:
RAY NG
TK

Since its inception, OppenheimerFunds has been
focused on winning, and winning in the right way.
The Firm's Corporate Values statement embodies
what OppenheimerFunds has always stood for: "Our
success is measured not only by what we achieve, but
also by how we achieve it."
The blueprint for the Firm's culture was developed
early on and has been fostered over the years by its
leaders. Max Oppenheimer, Leon Levy, and Jack Nash
set the groundwork for an operating philosophy
centered on the customers' best interests. Don Spiro
helped translate this culture into the OppenheimerFunds brand, which to this day conveys genuine care
for customers and integrity in every undertaking.
"You talk to people in the industry and they talk
about our culture," said Jim Ruff, former president of
OppenheimerFunds Distributor. "It's something we
talk about every day, and that's what put us on - and
keeps us on - the straight and narrow."
At the core of the Firm's culture is a commitment
to being a good steward of customers' investments.
Every day, the trust that customers put in the Firm
must be earned and deserved. "The culture of this
Company has always been ethics first; protect the
shareholders of the funds," said Robert Galli, director
and former general counsel for OppenheimerFunds.
It's a core principle that employees, as well as
shareholders, depend on. "One reason I stayed with
the Firm so long, and then stayed on as an independent trustee after I retired, was the way they run the
organization," said George Bowen, trustee, Board II.
The culture and the Firm's employees are inextricably linked. Length of tenure is impressive by Wall
Street standards - or any standard. OppenheimerFunds
has been distinguished by many employees who have
developed and grown with the company for decades.
Their backgrounds and education have been as diverse
as their personalities, something that has benefited
OppenheimerFunds and led to interesting career
development and growth opportunities.

Opportunities are a big reason why people stay.
Janette Aprilante joined the Firm as executive assistant
to the first general counsel. After working her way up
through senior paralegal, she now holds the position
of vice president/corporate secretary. Ellen Schoenfeld
started in an administrative role and traveled a career
path that included marketing associate, product manager for equity funds, and vice president of product
information before becoming director of educational
initiatives. "I know people who started here as file
clerks and made it to senior VP," said Jerry Rutledge,
vice president, Corporate Services. "Everyone has an
opportunity here."
For many, the Firm has been a place to develop
their talents into a multifaceted career. "I started
as a sales assistant, got licensed, learned to market
the funds, spent time as an internal wholesaler, then
became an external sales rep," said John McDonough,
now national sales director. "My territory continued to
grow along with the Company."
Another distinguishing cultural characteristic of
OppenheimerFunds is the collegial atmosphere.
Newcomers and visitors openly express surprise at the
genuinely nice people they meet at the Firm, and
the family feel. "I bleed Oppenheimer blue," said
Rutledge. "This is a family to me."
One of those surprised by the Firm's
caring culture was McDonough. "I
was amazed at the heritage of this
place," he said. "The CEO would
come down to the sales floor."
It is especially unusual that
this environment thrived as the
Firm grew. "We've had people
who were empathetic and
willing to work with the team
and let the team make things
happen, as opposed to a bunch
of individuals all trying to make
their star shine brighter," said

"There's an absolute credibility and pride in having
the respect of OppenheimerFunds people."
JERRY RUTLEDGE, VICE PRESIDENT, CORPORATE SERVICES

Mark Vandehey, chief compliance officer.
OppenheimerFunds is respected because of
the tangible and intangible practices and qualities
exemplified by the Firm and its employees. And the
culture remains entrenched because of the exceptional, talented people who want to be a part of this
Company and further its legacy. "There's an absolute
credibility and pride in having the respect of OppenheimerFunds people," said Rutledge. n

Oppenheimer 60th Anniversary

Table of Contents for the Digital Edition of Oppenheimer 60th Anniversary