Oppenheimer to Buy Part of CIBC's Capital Markets
NY Times | Not with a bang...

The businesses to be acquired by Oppenheimer employ over 700 people and had annualized revenues of about $400 million, Oppenheimer said.

The businesses to be sold include CIBC World Markets' U.S. investment banking, institutional sales, corporate syndicate lending, options trading, and part of the debt capital markets business. Other units being sold include related operations located in the UK, Israel and Hong Kong.