Raymond James taps Allianz alum in continued push into ETF space

Raymond James Investment Management has named Johan Grahn as its new head of exchange-traded funds, a move that signals the firm’s ongoing commitment to building out its ETF platform for advisors and investors in the US.

Grahn will work closely with Matt Johnson, head of product and marketing, and Susan Walzer, president of the firm’s family of funds, to further develop the ETF lineup, according to an announcement from the broker-dealer giant Thursday.

With more than two decades of experience in product innovation, portfolio management, and distribution, Grahn joins Raymond James from Allianz Investment Management, where he was instrumental in building and growing the firm’s ETF business, launching more than 40 defined outcome products.

His background also includes developing a risk-managed multi-asset fund lineup for MetLife, which grew to over $35 billion in assets under management. Grahn’s experience spans work with institutional investors, broker-dealers, RIAs, and financial advisors.

“Throughout his career, Johan has showcased an ability to drive product innovation through a strategic lens and an unwavering client-centric mindset, which will directly complement our firm’s deep knowledge of advisor needs and our dedication to creating a tailored ETF platform,” Johnson said in the announcement.

He added that Grahn’s expertise in both ETFs and portfolio management will foster dynamic collaboration between Raymond James’ product and investment teams.

The appointment comes as Raymond James continues to expand its presence in the ETF market, following more than a year of planning. After hiring Vanguard veteran Mo Sparks from the New York Stock Exchange last year as its first head of ETFs, RJIM submitted a filing with the Securities and Exchange Commission in January to launch four initial offerings.

Sparks' tenure at RJIM was short-lived, as he was announced as chief product officer at Direxion ETFs in April.

RJIM's ETF initiative is designed to complement its existing suite of mutual funds, separately managed accounts, and institutional mandates, providing advisors with additional tools to meet evolving client needs.

According to a recent report by Cogent, ETFs have accounted for roughly one-third of advisor AUM this year, compared to just 23.6% in 2023. Over the same period, mutual fund allocations have declined from 26.5% to just under a fifth of advisor allocations.

Pending regulatory review, RJIM expects to make its initial suite of ETFs available to wealth managers and investors by the end of 2025.

The new offerings are intended to be a “powerful addition” to Raymond James’ existing investment products, according to Grahn, who said he looks forward to supporting the development of “carefully curated ETFs” for the firm’s clients.

“Raymond James Investment Management is in a pivotal moment in terms of product expansion, and I’m excited to have the opportunity to join a company that is defined by its connectivity to advisors, its strongly embedded firmwide values, and its commitment to creating thoughtful products across asset classes,” Grahn said.