The new top economist for the US-listed firm is taking over from a man who has been at the business since 1993.

The chief economist of wealth management group Raymond James, Scott J Brown, PhD, is leaving the firm on Friday after having told the firm late last year that he intended to retire.

Dr Brown, who joined the firm in 1993, has advised clients with his analysis and thought leadership on economic affairs for more than 28 years.

The Florida-based group has appointed Eugenio Alemán, PhD, as Dr Brown’s successor, taking up the role from Monday next week. He will be joining from the US Department of Energy’s Energy Information Administration where he was also chief economist.

“Scott has been a valuable contributor to the firm’s growth, providing insights and context through a wide range of economic scenarios and helping clients understand how policy, unprecedented events and market volatility shaped their financial plan,” Haig Ariyan, head of Global Wealth Solutions and president of Alex. Brown, said. “We thank him for his nearly three decades of service and for leaving a strong legacy of economic insight through our investment strategy platform.”

Prior to the EIA, Dr Alemán was with Wells Fargo for 16 years, first as a director and senior economist for Wells Fargo Securities, where he covered the US domestic consumer profile, contributed to the analysis of the global economy, and researched the commodities, energy and metals' markets. In 2019 he joined Wells Fargo Bank as a vice president and international economist in the corporate economics group. 

Dr Alemán has worked previously with IHS Markit and Shell Argentina in addition to being a professor or adjunct professor of economics at numerous universities. Dr Alemán holds a bachelor’s degree in political science from the Universidad Del Salvador in Argentina, an MBA from Inter-American University in Puerto Rico and a master’s and PhD in economics from Florida International University.