Raymond James has established an ESOP Advisory investment banking practice and hired Mark Buchanan to build and lead it, expanding the firm’s Investment Banking division and adding dedicated capability for employee stock ownership plan transactions.
Buchanan will lead ESOP-related M&A transaction advisory and execution for privately held institutional clients. He will also support Raymond James financial advisors and their business-owner clients seeking ESOP-focused guidance. The new practice will focus on tax-advantaged ESOP and related ownership-transition transactions for family-, founder-, and employee-owned companies seeking to transition ownership, while also providing corporate finance and investment banking advisory services to existing ESOP-owned businesses pursuing growth initiatives or recapitalizations.
Raymond James said the move responds to increasing demand for tax-efficient ownership transition strategies as more companies remain private for longer periods. Steve Hufford, senior managing director and head of Investment Banking at Raymond James, said the ESOP Advisory practice will give clients added flexibility in pursuing their goals and that Buchanan’s experience will help deliver results.
Buchanan joins Raymond James from Stout, where he led the firm’s ESOP investment banking effort for three years. His prior investment banking experience includes roles at Macquarie Capital, BMO Harris Bank, and Credit Suisse. Based in Dallas, he joins Raymond James as a managing director and head of ESOP Advisory. He holds an MBA with Honors from The University of Chicago Booth School of Business and an undergraduate degree from Oakland University.
Raymond James Financial, Inc. is a diversified financial services company offering private client group, capital markets, asset management, banking and other services. The firm reported total client assets of $1.77 trillion and is publicly traded on the NYSE under the symbol RJF.
KEY QUOTES
“Establishing the ESOP Advisory practice gives clients a powerful new way to achieve their goals with greater flexibility,” said Steve Hufford, senior managing director and head of Investment Banking at Raymond James. “As more companies choose to remain private longer, the need for tax-efficient ownership transition strategies is growing. Mark’s extensive experience in this unique space will help deliver meaningful results to clients.”
Steve Hufford, Senior Managing Director, Head Of Investment Banking, Raymond James
“I have had the great pleasure of serving business owners as well as employee owners in solving unique challenges, particularly surrounding growth, succession planning and monetization,” said Buchanan. “With Raymond James now offering ESOP Advisory services to complement its comprehensive suite of services for business owners, I look forward to building the practice and helping clients and their employees grow wealth in a meaningful way.”
Mark Buchanan, Managing Director And Head Of ESOP Advisory, Raymond James
