The firm is one of the largest players in its segment within wealth management in the US and certain other countries such as the UK, Canada, France, Germany and Switzerland. 

This week, the Raymond James Financial board of directors officially appointed president Paul Shoukry as CEO of the company, effective February 2025. This completes the succession plan outlined in the March 2024 leadership announcement.

Shoukry will take over from Paul Reilly who will step down from his CEO responsibilities and become executive chair, the firm said in a statement.

“Paul Reilly and the rest of the board fully agree the time is right to move forward with our long-term succession process,” said Jeff Edwards, lead independent director. “Paul Shoukry is a gifted leader who is exceptionally qualified to partner with our strong senior leadership team. We are pleased that Paul Reilly will remain as a full-time executive chair, similar to how Tom and Bob James executed and supported their succession plans.” 

“Reflecting his understanding and commitment to all of our businesses, Paul Shoukry has spent the months since our leadership change announcement traveling, meeting with and listening to hundreds of financial advisors and associates across the country,” said Reilly. “He has also been involved in virtually every critical meeting and decision I have made during this time, and this has only reinforced our appreciation for the attributes that made him an ideal CEO candidate,” he added.

“My confidence in our outlook lies in our people – our leadership team, the financial advisors and associates who are all aligned on our mission of helping clients achieve their financial objectives,” Shoukry said.

Listed on the New York stock exchange, Raymond James Financial is a diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities, with total client assets of $1.54 trillion.