Daniel Vandivort Appointed to Oppenheimer Funds New York Board

NEW YORK, Oct. 23, 2014 /PRNewswire/ -- The Board of Trustees/Directors of the Oppenheimer Funds designated New York Board is pleased to announce the recent appointment of industry leader Daniel Vandivort to the Board, effective November 1, 2014. 

"We are looking forward to having Dan's insights," said Brian Wruble, Chairman of the Oppenheimer Funds New York Board. "His strong investment background and many years of governance leadership will bring a variety of skills to our board."

Mr. Vandivort recently served as Chairman and Lead Independent Director of the Value Line Funds Board of Directors, where he also served as Chairman of the Audit Committee and a Director of the Board for six years.

Previously, Mr. Vandivort served as President and Chief Investment Officer of Robeco Investment Management (formerly Weiss, Peck and Greer), as well as a member of the Management Committee, the governing body of the firm.  He was responsible for overseeing a variety of fundamental and quantitative based small, mid and large cap equity strategies;  multiple fixed income strategies, including core fixed income, high yield, emerging markets and municipal bonds; and a number of alternative strategies, including equity long/short, merger arbitrage, distressed debt, credit arbitrage and convertible arbitrage. Mr. Vandivort also served as Chairman of the Board of Directors of Weiss, Peck and Greer Funds and as a Trustee on the RIM Retirement Savings Plan Board of Trustees.  Prior to that, he was a Managing Director and Head of Fixed Income at Weiss, Peck and Greer.

Before joining Weiss, Peck and Greer, Mr. Vandivort spent 10 years at CS First Boston Corp. in a variety of roles, including Managing Director and Head of Fixed Income at CS First Boston Investment Management; Director of Global Product Development at First Boston Asset Management; and Vice President, Fixed Income Sales at First Boston Corp.  He also spent the last six years on the Board of Trustees of Huntington's Disease Foundation of America, a national foundation whose mission is to promote and support research and medical efforts to eradicate the neurodegenerative disease.

Mr. Vandivort received an M.B.A. from Columbia University Business School and a B.A. from Antioch College.

About OppenheimerFunds, Inc.

OppenheimerFunds, Inc. (OFI) is one of the largest and most reputable investment management firms in the country. Since the original Oppenheimer fund was first offered to the public in 1959, OFI has demonstrated it is a high conviction asset manager with a history of providing innovative investment strategies to its investors. OFI and its subsidiaries offer a broad array of products and services to individuals, institutional investors and corporations worldwide. OFI provides advisory services to the Oppenheimer mutual funds, and OFI Global Asset Management provides services to institutional clients. OFI, including its subsidiaries, managed more than $243 billion in assets for over 13 million shareholder accounts, including sub-accounts, as of September 30, 2014.

Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.

Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting oppenheimerfunds.com, or calling 1.800.CALL OPP (225.5677). Read prospectuses and summary prospectuses carefully before investing.

Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc., 225 Liberty Street, New York, NY, 10281

© 2014 OppenheimerFunds Distributor, Inc.  All rights reserved.

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SOURCE OppenheimerFunds, Inc.

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