Raymond James Financial Announces CFO as Future CEO

Raymond James Financial (NYSE: RJF) has announced key leadership changes, including the appointment of CFO Paul Shoukry as the new president, with plans for him to become CEO during fiscal 2025. This succession plan will see Paul Shoukry as only the fourth chief executive in the company's history, while the current Chair and CEO, Paul Reilly, will remain on the board as executive chair.

Additionally, Jeff Dowdle will be retiring and stepping down from the COO role at the end of the fiscal year. As part of this change, Scott Curtis will become the new COO of Raymond James Financial, Tash Elwyn will become president of the Private Client Group, and Jim Bunn will take on the role of president of the Capital Markets segment. These changes will be effective from October 1, 2024.

Raymond James Financial, Inc. is a leading diversified financial services company with approximately 8,700 financial advisors and total client assets of $1.38 trillion. It has been public since 1983 and is listed on the New York Stock Exchange under the symbol RJF. The market has reacted to these announcements by moving the company's shares 0.4% to a price of $122.7. For the full picture, make sure to review Raymond James Financial's 8-K report.

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