The Denver Board of Trustees of the Oppenheimer Funds today announced the appointment of Andrew J. Donohue to the Board, effective June 1, 2017.

"We are delighted that Buddy has agreed to join our Board, in serving OppenheimerFunds' shareholders. Given his leadership in the industry and his powerful track record, we look forward to his insight and the value of his experience as the asset management landscape evolves," said Bob Malone, Chairman of the Denver Board.

Donohue was most recently Chief of Staff to Mary Jo White, Chairman, U. S. Securities and Exchange Commission between 2015-2017 where he was responsible for overseeing the smooth operation of the Agency and was a key policy advisor to White. From 2006-2010, he was Director of the Division of Investment Management of the SEC where he was responsible for policy and oversight of the 14,000 advisers registered with the Commission who advise on more than $40 trillion. In this role, he also oversaw the 8,000 investment companies which comprise the $12 trillion investment company industry.

Donohue is known to many at OppenheimerFunds, where he served as General Counsel from 1991-2001. During this time, Donohue was a Member of the Executive Committee and was responsible for all legal, regulatory and compliance matters for the firm.

Donohue has held key positions across the industry including Investment Company General Counsel at Goldman Sachs where he was responsible for legal matters relating to the firm's investment companies including open-end, closed-end, and exchange traded funds. He also held the role of Partner at Morgan, Lewis & Bockius LLP in the firm's investment management practice; and Global General Counsel for Merrill Lynch Investment Managers.

Donohue received a BA from Hofstra University and a JD from New York University School of Law. He has been admitted to the Bar in New York and New Jersey.

About OppenheimerFunds

OppenheimerFunds, Inc., a leader in global asset management, is dedicated to providing solutions for its partners and end investors. OppenheimerFunds, including its subsidiaries, manages more than $235 billion in assets for over 13 million shareholder accounts, including sub-accounts, as of April 30, 2017. Founded in 1959, OppenheimerFunds is an asset manager with a history of providing innovative strategies to its investors. The firm's 15 investment management teams specialize in equity, fixed income, alternative, multi-asset, and revenue-weighted-ETF strategies, including ESG. OppenheimerFunds and its subsidiaries offer a broad array of products and services to clients, who range from endowments and sovereigns to financial advisors and individual investors. OppenheimerFunds and certain of its subsidiaries provide advisory services to the Oppenheimer family of funds, and OFI Global Asset Management offers solutions to institutions. The firm is also active through its Philanthropy & Community initiative: 10,000 Kids by 2020, reaching children with introductions to math literacy programs. For more information on the firm, visit oppenheimerfunds.com.