Raymond James has hired Dan Connolly as Senior Managing Director and Head of Technology & Services Investment Banking, adding a veteran dealmaker with nearly three decades of investment banking experience to lead the firm’s technology advisory platform.
Connolly will oversee the strategic direction and continued growth of Raymond James’ Technology & Services Investment Banking business, with responsibility for strengthening its advisory capabilities and expanding relationships across the technology sector.
He joins Raymond James after spending 27 years at William Blair, where he held several senior leadership positions across mergers and acquisitions, software, and technology investment banking.
His previous roles included co-head of global M&A, global head of technology M&A, global head of software investment banking, and co-founding member of William Blair’s technology investment banking team.
Over the course of his career, Connolly has completed more than 300 public and private mergers and acquisitions transactions and financings.
That experience gives Raymond James an executive with a substantial transaction history across technology companies and financial sponsors as the firm continues investing in its Technology & Services platform.
Connolly will be based in Chicago.
His appointment comes as technology businesses and private equity investors navigate an active transaction environment spanning software, digital infrastructure, IT services, cybersecurity, artificial intelligence, and other technology-focused sectors.
Technology companies can require investment banking advice across different stages of development, including private capital raising, acquisitions, strategic sales, public offerings, recapitalizations, and other financing events.
Connolly’s background across both M&A and software investment banking provides experience relevant to those different situations.
Raymond James said his industry relationships and transaction experience will support the continued development of its sector-focused advisory model.
The firm’s Technology & Services platform is built around senior bankers with industry-specific expertise and relationships with corporations, private equity firms, and other financial sponsors.
Connolly’s responsibilities will include setting strategy for the group and helping coordinate its next phase of growth.
His arrival also reinforces Raymond James’ broader investment in senior investment banking talent.
Raymond James Investment Banking provides capital formation and financial advisory services to corporate clients, privately held companies, and financial sponsors across multiple industries.
The platform includes more than 750 investment banking professionals working from more than 20 offices across the United States, Canada, the United Kingdom, and Europe.
Since 2021, Raymond James Investment Banking has participated in raising approximately $400 billion of capital for corporate clients.
During the same period, the firm has completed more than 1,100 advisory assignments, including approximately 900 buy-side or sell-side M&A advisory engagements.
Those figures give Connolly an established investment banking platform from which to expand the Technology & Services business.
His appointment follows Raymond James’ continuing efforts to increase specialization within its investment banking operations and build leadership teams around industry verticals where deep sector knowledge can influence transaction execution and strategic advice.
Technology investment banking has become increasingly specialized as business models, valuation frameworks, recurring revenue economics, AI adoption, cloud infrastructure, cybersecurity requirements, and private capital markets evolve.
Clients may also require advice that spans multiple transaction types as companies remain private longer, private equity firms become more active in technology, and software companies pursue consolidation strategies.
Connolly’s career at William Blair placed him across many of those areas, particularly technology M&A and software transactions.
Raymond James is also expanding at a time when its broader financial services platform has reached significant scale.
Raymond James Financial had approximately $1.97 trillion in total client assets at the time of the announcement.
The company’s businesses include private client services, capital markets, asset management, banking, and other financial services.
Connolly earned a Bachelor of Business Administration from the University of Notre Dame and an MBA from Harvard Business School.
His recruitment gives Raymond James a new senior leader for one of its important investment banking industry groups while adding nearly three decades of technology transaction experience to the firm’s existing team.
KEY QUOTES:
“Dan’s arrival marks an important step in the continued evolution of our Technology & Services platform. He brings exceptional industry knowledge, a distinguished advisory track record and deep relationships across the technology ecosystem.”
Steve Hufford, Senior Managing Director And Head Of Investment Banking At Raymond James
“His leadership will be instrumental as we continue to enhance our advisory capabilities and build on the strong momentum of our Technology & Services franchise.”
Steve Hufford, Senior Managing Director And Head Of Investment Banking At Raymond James
“Raymond James has built a highly regarded Technology & Services Investment Banking platform distinguished by its deep roster of senior bankers with in-depth sector expertise, longstanding corporate and private equity relationships, and a consistent track record of delivering successful outcomes for their clients.”
Dan Connolly, Senior Managing Director And Head Of Technology & Services Investment Banking At Raymond James
