Raymond James Investment Management taps Summit Trail’s Ringdahl as new president

Raymond James Investment Management has tapped Summit Trail Advisors executive Jeff Ringdahl as its next president, filling a key leadership role as the firm ramps up its product lineup and ETF ambitions.

Ringdahl will step into the job Jan. 5, overseeing strategy and growth for the $118.5 billion asset manager, which sits inside Raymond James as a wholly owned subsidiary. He will be responsible for business direction, key initiatives and expansion across the multi-boutique platform, which includes managers such as Eagle Asset Management, ClariVest Asset Management, Cougar Global Investments, Reams Asset Management, Chartwell Investment Partners, and Scout Investments.

The move comes roughly six months after Ringdahl joined $23.6 billion RIA Summit Trail Advisors as president and chief operating officer, where he was brought in as a partner to help scale the firm’s ultra-high-net-worth offering. Before that, he spent more than 14 years at Resolute Investment Managers’ American Beacon business in CEO, president and COO roles and served on its board.

Scott Curtis, chief operating officer at Raymond James, said the hire is intended to build on recent growth rather than reset the strategy.

In the announcement on Monday, he pointed to Ringdahl’s experience with multi-boutique managers and his familiarity with both wealth and institutional markets, saying those traits give the firm confidence in his ability to lead Raymond James Investment Management’s “next leg of growth.”

Ringdahl’s appointment follows a period of turnover and reshuffling at the unit. In July, former president Robert Kendall left to become global head of investment management at William Blair, where he now oversees portfolio management, client service and operations. Kendall previously led efforts at Raymond James Investment Management to expand client assets, roll out strategies in active ETFs and private credit, and guide the business into the United Kingdom.

At the same time, Raymond James has been leaning harder into the ETF market. The asset management arm launched its first three active ETFs in October on the New York Stock Exchange, all run by Eagle Asset Management investment teams and aimed at income-focused strategies spanning fixed income, dividend-paying equities and municipal bonds.

Matt Johnson, head of product and marketing, said then that the ETF platform was crafted around an “advisor-first approach,” designed to sit alongside the firm’s mutual funds, separately managed accounts and other vehicles.

Leadership around that effort has also evolved. After an earlier stint by Vanguard veteran Mo Sparks as the business’s first ETF head, Raymond James Investment Management installed Allianz alum Johan Grahn in August as head of ETFs. Grahn previously helped build more than 40 defined outcome ETFs at Allianz and developed a risk-managed multi-asset lineup at MetLife that grew to over $35 billion.

Against that backdrop, Ringdahl is stepping into a role that sits at the intersection of product, distribution and multi-boutique manager oversight. In Monday's announcement, he described Raymond James Investment Management as a firm with “rich history” and a “highly regarded and respected culture,” and said he looks forward to building on its “strong growth trajectory.”