It took a while, but Raymond James is finally building its own base in the ETF space.
On Thursday, Raymond James Investment Management, RayJay’s global asset management unit, revealed that it has appointed Mo Sparks as head of exchange traded funds.
The leadership hire is a strategic move ahead of the investment business, which reports $102.7 billion in assets managed, as it looks to expand its product offerings to include ETFs next year.
That move will result in an expanded toolkit for advisors working with Raymond James, with new exchange-traded funds to pair with its existing mutual funds, separately managed accounts, and institutional mandates.
Sparks, with nearly 15 years of experience in the ETF industry, will focus on developing the platform to expand investor access and support the firm's growth.
"We are excited Mo will be leading our expansion into the ETF space – one more avenue that we can provide as part of our overall goal to give broader choice to select, high-demand investment strategies," said Bob Kendall, president of Raymond James Investment Management, in a statement Thursday.
Sparks previously led new business development for ETFs at the New York Stock Exchange and managed relationships with more than 125 ETF issuers. He also held product management and strategy roles at The Vanguard Group, where he was involved in the development and oversight of Vanguard’s global ETF and mutual fund lineup, and played a leading role in developing, launching, and overseeing ETF Central.
“Mo’s passion for putting clients first and bringing strong products to market aligns with our culture and goals for this platform,” said Matt Johnson, head of product management and marketing for Raymond James Investment Management.
Johnson also underscored Sparks’ “strategic business mindset and thoughtful nature” as ideal qualities for a leader to build out the firm’s ETF product suite.
“ETFs are a technology that allows investors unparalleled access and control over today’s investment landscape,” Sparks said.
“I am eager to build this platform at such a respected organization in support of evolving investor needs – and excited to pair the capabilities of RJIM and its boutique investment managers with the access and tax efficiency that the ETF wrapper provides,” he said.
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