Raymond James Monetary Chairman Emeritus Thomas A. James says he’s retiring from the agency’s board on Feb. 22, having served for 48 years as a director — together with 40 as CEO. 

He’ll, nonetheless, maintain an workplace at its headquarters “and proceed in a number of advisory roles each enterprise and charitable, working part-time on the agency,” in keeping with an announcement.

“At age 81, it’s time for me to cut back my time with agency duties and spend extra time with my spouse, Mary, exterior of enterprise,” James added. “We’ve a wonderful board and administration crew, and I’m pleased with their accomplishments.”

CEO Paul Reilly, who took the reins from James in Might 2010, defined that the agency “will proceed to use the administration rules Tom exercised as CEO and taught innumerable ranges of previous and present management from his first day as CEO in 1970 to right now.

“Our management crew and I’ll proceed to worth his mentorship and recommendation as we proceed to nurture the client-first tradition he so thoughtfully and intentionally established, and construct on the agency’s development and success,” Reilly added.

Raymond James at present works with about 8,700 monetary advisors and a few $1.24 trillion in consumer property. 

James’ Legacy

Tom turned CEO of Raymond James Monetary in 1970, succeeding his father Bob James. Below Tom’s management, Raymond James not solely constructed a profitable public firm, but additionally an enormous tent for advisors.

Mike Hines, founder and CEO of Consolidated Planning Corp. in Atlanta, joined Raymond James in 1975 as a result of it was “financial-planning oriented,” he stated. “When Tom got here on board,” stated Hines, “he modified every little thing.”