Raymond James announced on Wednesday that President John Carson is retiring at the end of the year and Paul Allison, head of Raymond James Ltd., the company’s Canadian subsidiary, is stepping down.
Carson, who joined Raymond James in the Morgan Keegan acquisition in 2012, will also step down as head of the Fixed Income and Public Finance divisions. He will be succeeded as president of Fixed Income by Horace Carter, executive vice president of Fixed Income Capital Markets. Gavin Murrey, executive vice president and head of Public Finance and Debt Investment Banking, will continue to run Public Finance. Carson will remain with the firm as a vice chairman during the transition, the company said.
Allison, who will become RJL Executive Chairman on stepping down, will be succeeded by Jamie Coulter, currently executive vice president, Wealth Management.
“I’m deeply grateful to John (Carson) for his leadership, counsel and the many tangible contributions he has made to Raymond James during his nearly 10-year tenure,” said Chairman and CEO Paul Reilly. “When we purchased Morgan Keegan, where John was CEO, in 2012, we knew we were also bringing in an outstanding leader and visionary who could help us continue to grow and adapt to evolving client needs. His skill as a business leader is eclipsed only by his compassion and thoughtful approach to working with people. He will be sorely missed.”
Reilly added that Allison “has been a phenomenal leader during a remarkable period of organic and acquired growth in Canada over the past 13 years. We are fortunate to continue to benefit from his deep expertise as we strive to deliver world class wealth management solutions for our Canadian clients and their families and best-in-class executions for our Capital Markets clients.”