Raymond James has given a timeline for the succession of Paul Shoukry to the chief executive officer role in 2015.
The firm announced in March that current CEO Paul Reilly would step down from the role sometime in the next year to be replaced by CFO and 14-year-veteran of the firm Paul Shoukry who was immediately made president.
Plans for Shoukry to take over as CEO were firmed up Wednesday by Raymond James’ board of directors, with the date set as February 20, 2025. At that time, Reilly – who is also the firm’s chair - will transition to an executive chair role.
“Paul Shoukry is a gifted leader who is exceptionally qualified to partner with our strong senior leadership team,” said Jeff Edwards, lead independent director. “I know that he will build on the firm’s remarkable track record and legacy of world-class client service that began with Bob and Tom James and has flourished under Paul Reilly’s leadership. We are pleased that Paul Reilly will remain as a full-time executive chair, similar to how Tom and Bob James executed and supported their succession plans.”
Shoukry’s rise through the ranks of Raymond James began in 2010 when he joined the firm’s Assistant to the Chairman program before becoming senior vice-president of finance, treasurer, and head of investor relations from 2012-2020. He was appointed CFO in 2020.
Previously in his career he was a strategic consultant for financial services clients at Baldwin Bell Green and a commercial banker at BB&T. He earned an MBA with honors from Columbia University.
“Raymond James has an extraordinary history and has been built on time-tested values that we will always embrace. I am honored to have the trust and support of Paul, Tom James and the board and am excited about our future,” Shoukry said. “My confidence in our outlook lies in our people - our leadership team, the financial advisors and associates who are all aligned on our mission of helping clients achieve their financial objectives.”
Reilly joined the firm in 2009 as president, becoming CEO a year later and succeeding Tom James who had led the firm for 40 years. Reilly was previously chairman and CEO at Korn Ferry International and CEO at KPMG International.
“Reflecting his understanding and commitment to all of our businesses, Paul Shoukry has spent the months since our leadership change announcement traveling, meeting with and listening to hundreds of financial advisors and associates across the country,” said Reilly. “He has also been involved in virtually every critical meeting and decision I have made during this time, and this has only reinforced our appreciation for the attributes that made him an ideal CEO candidate. His wisdom, insightful perspective and acute understanding of our business combine with a commitment to a business grounded in both excellent client and advisor service. With Paul and our proven leadership team, I couldn’t be more confident in the future of the company.”
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