Raymond James Financial has announced leadership changes as part of its succession planning process. Paul Shoukry, the company’s CFO, has been named President of Raymond James Financial, effective immediately. He is expected to become CEO of the company sometime in fiscal 2025, following a transition period, to succeed Paul Reilly, the current CEO, according to the company’s press release.
Shoukry has been an exceptional leader and major contributor to the company’s growth and financial stability, the memo added.
“Paul has been an exceptional leader and major contributor to Raymond James’ steady growth and financial stability. Serving as the firm’s CFO, as well as overseeing our Bank segment, he has consistently demonstrated that even as we grow, keeping our Private Client Group, advisors and their clients at the center of our business plans, while always embracing our values, will continue to be essential to our future success,” shared Reilly. “In addition to Paul, we have an outstanding leadership team who similarly embrace our vision for the future and are well-equipped to meet the demands of a dynamic marketplace.”
As part of the succession plans, Raymond James is also announcing other key leadership changes and appointments. Jeff Dowdle, COO, will retire and step down from his role at the end of the fiscal year. Scott Curtis, Private Client Group President, will become COO of Raymond James Financial, while Tash Elwyn, CEO of Raymond James & Associates, will become president of the Private Client Group.
Jim Bunn, Global Equities & Investment Banking President, 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.
About Paul Shoukry
Shoukry started with Raymond James 14 years ago working for Tom James and Paul Reilly in the Assistant to the Chair program. He has been the firm’s CFO since January 2020, responsible for the overall financial management of the company. He oversees the firm’s Bank segment, is a member of the firm’s Executive Committee, and serves on the boards of subsidiaries Raymond James & Associates and TriState Capital Bank.
Prior to joining Raymond James, Shoukry worked for a strategy consulting firm that focused on serving clients in the financial services industry. Shoukry earned an MBA with honors from Columbia University and graduated magna cum laude with a Bachelor and Master of Accountancy from The University of Georgia, where he was a Leonard Leadership Scholar.
For Marcelo Soba