Armed with a strong balance sheet and little exposure to subprime mortgages, broker-dealer Oppenheimer & Co. is affirming its commitment to the U.S. public finance market by selectively hiring bankers, traders, and salesmen at a time when many firms in the industry are pulling back.

The new hires are intended to compliment the firm's already strong brokerage business, and the increased focus on the banking side is expected to provide additional supply for the firm's retail clients.

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