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Deals Of The Day: The Latest In Wealth Management M&A – Raymond James, SumRidge

Editorial Staff July 6, 2022

Deals Of The Day: The Latest In Wealth Management M&A – Raymond James, SumRidge

The latest corporate deals, transactions and acquisitions in the North American wealth management industry.

Raymond James, SumRidge
Raymond James has completed its previously-announced purchase of SumRidge Partners, a business founded in 2010.

Based in Jersey City, New Jersey, SumRidge Partners operates within the firm’s fixed income capital markets business and is led by SumRidge’s co-founders, Tom O’Brien and Kevin Morano. 

SumRidge Partners’ institutional market-making operation sits alongside and complements Raymond James’ core client-facing business.

The acquisition adds market-making operations and trading technology to Raymond James’ fixed income capital markets division, the New York-listed firm’s chief executive and chairman Paul Reilly, said.

Piper Sandler served as exclusive financial advisor and Gunderson Dettmer was legal counsel to SumRidge Partners. The financial terms were not disclosed.

Raymond James has total client assets of $1.19 trillion.

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