The Raymond James Financial Board of Directors announced the appointment of President Paul Shoukry to CEO of the company, effective February 20, 2025, completing the succession plan outlined in the March 2024 leadership announcement.
At that time, Chair and CEO Paul Reilly will step down from his CEO responsibilities and become Executive Chair.
“Paul Reilly and the rest of the board fully agree the time is right to move forward with our long-term succession process,” said Jeff Edwards, Lead Independent Director. “Paul Shoukry is a gifted leader who is exceptionally qualified to partner with our strong senior leadership team. I know that he will build on the firm’s remarkable track record and legacy of world-class client service that began with Bob and Tom James and has flourished under Paul Reilly’s leadership. We are pleased that Paul Reilly will remain as a full-time Executive Chair, similar to how Tom and Bob James executed and supported their succession plans.”
On the other hand, Reilly said: “Reflecting his understanding and commitment to all of our businesses, Paul Shoukry has spent the months since our leadership change announcement traveling, meeting with and listening to hundreds of financial advisors and associates across the country. He has also been involved in virtually every critical meeting and decision I have made during this time, and this has only reinforced our appreciation for the attributes that made him an ideal CEO candidate. His wisdom, insightful perspective and acute understanding of our business combine with a commitment to a business grounded in both excellent client and advisor service. With Paul and our proven leadership team, I couldn’t be more confident in the future of the company.”
In addition, Shoukry said: “Raymond James has an extraordinary history and has been built on time-tested values that we will always embrace. I am honored to have the trust and support of Paul, Tom James and the board and am excited about our future. My confidence in our outlook lies in our people – our leadership team, the financial advisors and associates who are all aligned on our mission of helping clients achieve their financial objectives.”
As part of the firm’s succession plans, Raymond James is announcing other key leadership changes and appointments. Jeff Dowdle has announced that he will be retiring and stepping down from the COO role at the end of the fiscal year.
As part of this change, Raymond James Financial Private Client Group President Scott Curtis will become COO of Raymond James Financial, current Raymond James & Associates CEO Tash Elwyn will become president of the Private Client Group, and Global Equities & Investment Banking President Jim Bunn will become president of the Capital Markets segment.
These changes will be effective October 1, 2024, at which time Dowdle will be named vice chair and serve in an advisory role to facilitate a smooth transition.
For Marcelo Soba