Haig Ariyan, president of the Alex. Brown division of Raymond James and head of its global wealth solutions group, is leaving the firm effective July 15.
The firm gave no explanation for the departure.
Following Ariyan’s transition, Michael Tormey, the chief operating officer of Alex. Brown and of global wealth solutions, will report to Tash Elwyn, the president and CEO of Raymond James & Associates. Alex. Brown managing directors John Sutton and Brett Kellam also will report to Elwyn, Raymond James said in a press release Wednesday.
Replacing Ariyan as head of global wealth solutions will be Bill Seugling, managing director of the firm’s investment solutions group. He will report to Scott Curtis, president of the Raymond James private client group.
“Haig has been instrumental in the successful integration and subsequent growth of the Alex. Brown business following the acquisition of the US Private Client Services Unit of Deutsche Asset & Wealth Management in 2016,” said Paul Reilly, CEO and financial chair of Raymond James. “I have every confidence in the continued success of both Alex. Brown and our Global Wealth Solutions team, and wish Haig well in his future endeavors.”
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
A new PitchBook analysis unpacks sticking points relating to liquidity, costs, and litigation risk for would-be investors and plan sponsors.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
The collaboration will give RIAs yet another access point into the alternatives space through a new unified managed account capability.
A drop in interest rates and easier access to capital has reignited appetite among private equity-backed consolidators, who accounted for 53% of RIA deals so far this year- their highest share since 2021 according to DeVoe & Company.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
