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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 grow to be the agency’s subsequent CEO someday throughout fiscal 2025.
As soon as the deliberate succession course of is full, Shoukry would grow to be the fourth chief govt 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 govt chair, whereas Shoukry will retain his present obligations 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 progress and monetary stability.” He added that Shoukry’s expertise because the agency’s CFO, in addition to his expertise overseeing the important thing banking phase, place him nicely to take care of Raymond James’ dedication to protecting the monetary advisor on the heart of the enterprise plans.
“Along with Paul, we have now an impressive management group who equally embrace our imaginative and prescient for the longer term and are well-equipped to satisfy 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 will probably 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 alteration, Raymond James Monetary non-public shopper group president Scott Curtis will grow to be COO of Raymond James Monetary.
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