Raymond James Financial is implementing a series of senior leadership changes across its banking and asset management businesses as part of the firm’s long-term succession planning.
Bank Segment President Steve Raney will transition into an executive consulting role on January 1, 2027, after 21 years leading Raymond James’ banking business. Chief Operating Officer Scott Curtis will assume leadership of the Bank Segment.
Raney has overseen a period of substantial growth for the banking operation. Annual net revenue increased from approximately $41 million in fiscal 2006 to nearly $1.8 billion in fiscal 2025, making the Bank Segment an increasingly significant component of Raymond James’ broader financial services platform.
Although Raney is moving out of his current operating role, he will remain closely involved with the business.
He will work with Curtis and the existing Bank Segment leadership team during the transition and will continue serving as chairman of the Raymond James Bank board. Raney will also remain a member of the TriState Capital Bank board, the firm’s two trust company boards and select bank committees.
Curtis has served on the Raymond James Bank board since 2019 and will take responsibility for the Bank Segment while retaining several of his existing duties.
He will continue overseeing Raymond James Investment Management, Marketing, Corporate Real Estate, and Office and Procurement Services.
Raymond James is also adjusting leadership of its Asset Management Services division.
Chief Strategy Officer Tarek Helal will begin overseeing Asset Management Services on January 1, 2027, in addition to his existing responsibilities.
The realignment comes as Raymond James invests in technology and other capabilities intended to support growth across both the Bank Segment and Asset Management Services.
The company said the leadership structure should provide greater management focus as those businesses pursue additional strategic opportunities.
Raymond James operates across private wealth management, capital markets, asset management and banking.
The company reported approximately $1.93 trillion in total client assets and has been publicly traded since 1983.
The transition preserves continuity by keeping Raney involved while shifting day-to-day leadership to Curtis, an executive who already oversees several important operating functions across the company.
KEY QUOTES:
“Under Steve’s leadership, the business has grown from approximately $41 million in annual net revenues in fiscal 2006 to nearly $1.8 billion in fiscal 2025, while becoming an increasingly important part of how we serve advisors and their clients.”
Paul Shoukry, CEO of Raymond James Financial
“The Bank Segment has significant opportunities ahead, and I have great confidence in Scott and the leadership team as they carry the business forward.”
Steve Raney, President of the Bank Segment at Raymond James
“We are making meaningful investments in technology and other capabilities to support growth plans for the Bank Segment and AMS, and this realignment will provide additional leadership focus and better position both businesses to execute on strategic opportunities.”
Paul Shoukry, CEO of Raymond James Financial
