In the giving spirit of the holidays, New York-based CIBC Oppenheimer donated $5.53 million to children's charities the total sum of trading fees and commissions generated by the firm on December 1.
CIBC Oppenheimer raised the $5.53 million in the firm's 15th Children's Miracle Day, in which all one-day consulting, sales and trading fees and commissions are donated to charities. Since 1984, the firm has raised over $21.5 million.
"We are extremely pleased with the results," said Tom Gallagher, head of CIBC Oppenheimer's U.S.A. institutional equity business, in a prepared statement. "These funds will make a very significant difference to a large number of children's charities in the communities where we do business."
CIBC Oppenheimer has held Children's Miracle Day on the first Tuesday of every December since 1984. All consultants, sales professionals and traders globally donate their fees and commissions from that day to charities.
The firm designated 400 children's charities for participation in 1998, including 130 in the U.S.
CIBC Oppenheimer is the investment-banking division of CIBC World Markets. CIBC World Markets had offices in 64 cities around the world participate in the charity event this year.
