ST. PETERSBURG, Fla., Dec. 06, 2021 (GLOBE NEWSWIRE) -- Raymond James Ltd. (RJL) Chairman and CEO Paul Allison, head of Raymond James' (RJF) - Get Raymond James Financial, Inc. Report Canadian subsidiary, has notified the firm of his intention to step down from his position as executive officer effective December 31, 2021. He will transition to the newly created role of RJL Executive Chairman to provide strategic guidance to the management team and serve in a senior client relationship capacity.
"I am honored to be part of a team of talented professionals who play such an important role in the lives of individual investors and their families, businesses and communities across Canada, "said Mr. Allison. "We have successfully raised the bar in our services for clients and expanded into new areas to better serve their needs. Together with my partners across the firm, we have delivered for our clients, strengthened our financial profile and elevated our reputation and brand.
"I am confident our management team will continue to make Raymond James Canada's leading investment dealer and maintain our tremendous growth momentum."
As part of his transition plan, Allison will Chair several Boards including Raymond James Ltd. and the Raymond James Canada Foundation. In addition, Allison will continue as Chair of the Investment Industry Regulatory Organization of Canada (IIROC).
"Paul has been a phenomenal leader during a remarkable period of organic and acquired growth in Canada over the past 13 years," said Paul Reilly, RJF Chairman and Chief Executive Officer "We are fortunate to continue to benefit from his deep expertise as we strive to deliver world class wealth management solutions for our Canadian clients and their families, and best-in-class executions for our Capital Markets clients."
Jamie Coulter, currently Executive Vice President, Wealth Management, succeeds Allison as RJL Chief Executive Officer. In addition to this new role, Coulter will join the RJF Executive Committee, the Board of Raymond James Ltd. and be responsible for the day-to-day operations.
Coulter has deep roots at Raymond James and is a proven leader. Throughout his 25 years at the firm, he has taken on progressively senior roles including serving as General Manager, Equity Capital Markets before assuming his current role.
"Jamie's widely respected throughout Raymond James and his broad background across all business lines, coupled with his extensive knowledge of the firm and the industry, make him an excellence choice as CEO," said Reilly. "Both Paul and Jamie are exceptional leaders and I am confident there will be a seamless transition of the CEO responsibilities, and continued focus on serving clients at the highest standards."
Coulter will join the RJF Executive Committee and report to Reilly with responsibility to, and oversight by, the Raymond James Ltd. Board of Directors.
The executive management team of Raymond James Ltd. will report directly to Coulter including wealth management, capital markets and corporate divisions. He will also have direct responsibility for the firm's private client business.
"Paul Allison has been a great mentor and leader and his legacy of excellence permeates the firm at all levels," said Coulter. "I am excited about building on our growth success across all of our businesses. Together with my partners across Raymond James, our values will always form the bedrock of the firm and reinforce our shared conviction to be the best for our clients, our people and Canadians."
About Raymond James Financial, Inc.
Raymond James Financial, Inc. (RJF) - Get Raymond James Financial, Inc. Report is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 8,500 financial advisors. Total client assets are $1.23 trillion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com.
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