Oppenheimer Europe, a subsidiary of New York-listed Oppenheimer Holdings, has opened a new branch in Jersey as part of its London-based fixed income business and made three hires to staff it.

The firm's new office in the St Helier parish on the island in the English Channel includes Simon Bakewell, who has joined as managing director from Bridport, an asset manager also based in Jersey. He was latterly responsible for fixed income sales, trading and research at Bridport. Bakewell will be joined by two colleagues from his former employer in the shape of Gary Drakes and David Reid.

The three appointments have been selected by Paul Tanner, the person who established the firm's London-based fixed income sales and trading desk in 2008.

The new office is meant to support middle-market institutional clients across Europe, the firm said in a statement.

In other recent developments at Oppenheimer's US-based parent business, John Stoltzfus joined Oppenheimer & Co as managing director and chief market strategist. Stoltzfus was latterly senior market strategist at Ticonderoga Securities, where he provided macroeconomic analysis, market outlook and strategy ideas to the firm and its clients.