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Raymond James Monetary introduced Tuesday that Chief Monetary Officer Paul Shoukry has been appointed president, efficient instantly, and he’s anticipated to turn out to be the agency’s subsequent CEO someday throughout fiscal 2025.
As soon as the deliberate succession course of is full, Shoukry would turn out to be the fourth chief government within the firm’s historical past, following Paul Reilly within the position. Reilly, in accordance with the agency’s announcement, will stay on the corporate’s board as government chair, whereas Shoukry will retain his present duties till he transitions to the CEO position.
Commenting on the information, Reilly known as Shoukry an “distinctive chief” and a “main contributor to Raymond James’ regular development and monetary stability.” He added that Shoukry’s expertise because the agency’s CFO, in addition to his expertise overseeing the important thing banking section, place him properly to keep up Raymond James’ dedication to protecting the monetary advisor on the heart of the enterprise plans.
“Along with Paul, we have now an excellent management crew who equally embrace our imaginative and prescient for the long run and are well-equipped to fulfill the calls for of a dynamic market,” Reilly mentioned.
As a part of the agency’s succession plans, Raymond James additionally introduced different key management adjustments and appointments. Jeff Dowdle has introduced that he can be retiring and stepping down from the chief working officer position on the finish of the fiscal 12 months, and as a part of this modification, Raymond James Monetary non-public shopper group president Scott Curtis will turn out to be COO of Raymond James Monetary.
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